In defence of Lloyd’s Open Form

Richard Janssen, of the International Salvage Union, discusses the future of LOF in the light of renewed support from Lloyd’s

Supported by a number of highly visible salvage cases, the Lloyd’s Open Form (LOF) salvage contract has been much in the shipping news in the past months. It was therefore a surprise move for the salvage and insurance industry that Lloyd’s announced in April a review to consider whether the services of the Lloyd’s Salvage Arbitration Branch (LSAB) should be stopped.