chapter  35
10 Pages

Ice; Navigation; Insurance

Baltime form 35.9 Clause 3 of the Baltime form requires the owners ‘‘to provide and pay . . . for insurance

of the Vessel’’. More specific provisions are then made so far as concerns war risks insurance in Clause 20(D). Sub-paragraph (i) allows the owners to insure against war risks, the basic premiums or calls being for their account. Sub-paragraph (ii) supplements this by providing that if the underwriters of these risks require additional premiums or calls because ‘‘pursuant to the Charterers’ orders, the Vessel is within, or is due to enter and remain within, any area or areas which are specified by such Underwriters as being subject to additional premiums because of War Risks, then such premiums and/or calls shall be reimbursed by the Charterers to the Owners at the same time as the next payment of hire is due’’. The equivalent provisions of the STB tanker form, in Lines 501 to 508, are more specific and more restrictive.