X-PRESS PYXIS

* We have received reports that containership X-PRESS PYXIS (IMO: 9967536) experienced a failure of the stern tube system whilst en route from Busan, South Korea, to Yokohama, Japan, on 29 August 2024.

* The vessel was unable to complete its voyage under its own power as a consequence of the failure and was subsequently taken under tow to Yokohama Port, Japan.

* It is reported that an underwater inspection of the vessel identified damage to both the stern tube and propeller, necessitating significant repairs to the vessel to be effected in drydock. We understand that the cargo stowed on board therefore requires to be discharged from the vessel to effect the necessary repairs.

* The vessel's owners have now declared General Average in light of the extra-ordinary costs to be incurred for the safety of the maritime adventure. Accordingly, General Average security will be required from all cargo interests prior to the delivery of their cargo and we are likely to be able to assist in that regard.

* We are already liaising with certain cargo insurers concerned with cargo stowed on board the vessel and we may be able to offer certain economies of scale in respect of any third party costs which may need to be incurred to investigate the cause of the casualty.

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