Lloyd’s mulls axing support for LOF salvage contract
Salvors among those said to be ‘in shock’ as Lloyd’s proposes to close Salvage Arbitration Branch, subject to an abrupt consultation process due to end next week
Already weakened by animosity from quarters of the marine insurance sector, the world’s foremost salvage contract could be facing the final blow if Lloyd’s proceeds with its proposed closure of the SAB, which provides the contract’s support framework
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