MAREN

* We have received reports that Container Ship, MAREN ran aground off the Black Sea coast of Turkey, near the town of Kerempe, on 1 April 2023.

* The vessel sustained extensive damage as a consequence of the grounding, including a breach of the hull over a length of approximately 20 metres and water ingress to several holds. The vessel was therefore unable to continue the voyage to the intended destination port(s).

* It is reported that salvage operations are continuing to be performed by professional salvors, involving the discharge of containers stowed on board the vessel with the assistance of a floating crane and barges.

* We understand that discharge operations of those containers stowed on deck has been completed. It is reported that a total of 490 containers stowed with vehicles, electronic devices and valuables had been discharged from the vessel as at 1 June 2023.

* Discharge of those containers stowed to holds that are not directly affected by flooding is continuing slowly, dependent on the prevailing weather conditions.

* Containers discharged from the vessel are being transferred to Samsun, Turkey for inspection and on-carriage to the intended destination, where warranted. We are advised that the vessel's operator, CMA CGM, proposes to share the Inspection Reports of damaged containers with cargo interests in order that cargo owners may consider the merits of agreeing to the on-carriage of cargo to final destination or abandonment of the cargo at Samsun.

* Those containers remaining in the flooded holds are likely to be significantly affected by water damage and cargo stowed therein may ultimately be deemed to be a Constructive Total Loss.

* Should any damage be advised to cargo you are concerned with, WKW may be able to assist with surveys.

* It is likely that Recovery issues will arise a result of this casualty.

* We therefore recommend that you contact us urgently if you are concerned with any cargo affected by this incident so that we can immediately start taking steps to protect your interests.