------------------UPDATE-------------------

* Further to our original Casualty Report concerning the fire on board container ship, TSS PEARL, we can advise that professional salvors have been instructed to render salvage services to the vessel under the terms of Lloyd's Form of Salvage Agreement. Consequently, Salvage Security will be required to be provided on behalf of cargo interests by a party acceptable to the Salvors or the Council of Lloyd's and W K Webster may be able to assist in that regard. Security provided by WKW is acceptable to the Council of Lloyd's and is a widely preferred option by professional Salvors.

* It is likely that General Average will also be declared by owners, in which case, General Average security may be required from all Cargo Interests prior to the delivery of their cargo and we may also be able to assist in that regard.

* For the purposes of providing security, we shall be using our online document portal for the submission of instructions and documents. The portal can be found here: https://wkwccmdocs.azurewebsites.net/Vessel/NewClaim?id=10. We would strongly encourage our clients to use the portal as this will result in a faster turnaround time for the submission of guarantees, and in turn the release of cargo in due course. Emailed instructions will still however be received and processed.

*There is also likely to be significant damage to cargo affected by the fire and firefighting operations which will result in recovery issues upon which we can also assist.

*Please contact us urgently if you are concerned with any cargo on board this vessel so that we may assist you.

------------------ORIGINAL-----------------

* We have received reports that container ship, TSS PEARL experienced a major fire on board whilst navigating the Red Sea, in a position north west of The Farasan Islands, Saudi Arabia on 5 October 2022.

* Reports indicate that the fire is burning in container stacks at the stern of the vessel immediately forward of the accommodation block. Consequently all crew have abandoned the vessel.

* It is likely that General Average / Salvage issues will arise and Recovery issues may also arise in respect of fire, heat, smoke and/or water damage to cargo.

* If General Average is declared, General Average security may 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.

* Salvage Security may also be required to be provided by a party acceptable to the Salvors or the Council of Lloyd's on behalf of cargo interests and we may be able to assist in that regard also. Security provided by WKW is acceptable to the Council of Lloyd's and widely preferred by professional Salvors.

* We have already instructed a fire engineer to investigate the cause of the fire and we may be able to offer certain economies of scale in respect of any third party costs which may need to be incurred. We also have local cargo surveyors on hand to ascertain the extent of damage to any cargo stowed on board the vessel, when discharged.

* 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.