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

The shipowner; each cargo owner (however many); the owners of the ship’s bunker fuel (who are often time charterers); the recipients of the freight at risk (usually the shipowner or time charterers). Where cargo is owned by more than one party, each cargo owner is treated as a separate interest and bears his own share of any general average loss, no matter how small.


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

How are general average losses paid for?