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How is a time charterer’s interest in a common adventure determined?

By the value of his bunkers remaining on board at the termination of the voyage, plus any freight at risk, if he is the recipient of freight. (Where the time charterer actually owns the cargo there may not be any freight at risk.)

 

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    Can there be general average where a ship is in ballast?

    Who would normally be the parties to a “common adventure”?