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1. Shipowner
a. Over the value of the vessel, (even if chartered and the charterer agreed to pay the shipowner the value of the vessel in case of loss, however, the shipowner can recover only the amount not recoverable form the charterer). However, if the ship is hypothecated by a
bottomry loan, the insurable interest is only up to the excess of the value of the vessel over the loan.
b. Over expected freightage.
2. Cargo owner/shipper – Over the cargo and expected profits.
3. Charterer
a. Over the vessel up to the extent of the amount he is liable to the shipowner, if the ship is lost or damaged during the voyage.
b. Over his expected profits or freightage if he accepts cargoes from other persons for a fee.
c. Over his own cargo or his client’s cargo
a. Over the value of the vessel, (even if chartered and the charterer agreed to pay the shipowner the value of the vessel in case of loss, however, the shipowner can recover only the amount not recoverable form the charterer). However, if the ship is hypothecated by a
bottomry loan, the insurable interest is only up to the excess of the value of the vessel over the loan.
b. Over expected freightage.
2. Cargo owner/shipper – Over the cargo and expected profits.
3. Charterer
a. Over the vessel up to the extent of the amount he is liable to the shipowner, if the ship is lost or damaged during the voyage.
b. Over his expected profits or freightage if he accepts cargoes from other persons for a fee.
c. Over his own cargo or his client’s cargo
