GRETA K

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

27 March 2023

* We have received updated information concerning the fire on board product tanker, GRETA K, that a Lloyd's Form of Salvage Agreement has been signed.

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

* The fire has been extinguished and the vessel has been taken by tow to anchor off the Port of Leixoes, Portugal. It is reported the vessel is to remain off port for at least 2 days until the tanker's pumps become functional again and it can then be taken to the terminal to transfer cargo.

* If General Average is declared, General Average security may also be required from all Cargo Interests prior to the delivery of their cargo, and we are also likely to be able to assist in that regard.

* We therefore recommend that you contact us if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.

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

* We have received reports that product tanker, GRETA K, experienced a fire whilst the vessel was in a position approximately two nautical miles off Porto, Portugal, on 21 March 2023.

* The fire is reported to be located at the stern of the vessel, likely in the engine room.

* Up to five tugs have been deployed to tow the vessel further from shore and to assist to extinguish the fire.

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

* If General Average is declared, General Average security may also be required from all Cargo Interests prior to the delivery of their cargo and we are also likely to be able to assist in that regard.

* We therefore recommend that you contact us if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.