What is the mindset of an entrepreneur looking to dip his toes
in a new venture? Profits? Maybe, certainty? Certainty is a factor
that all entrepreneurs look for in a business opportunity. However,
certainty is also the factor that is least available to them;
primarily, if they are dealing in a speculative industry such as
share market, or perhaps, the maritime sector. When a shipowner
charters his vessel out, he should consider numerous uncertain
factors that may cause obstacles in the future, like when the lay
days commence and end, when the bill of lading will come into
effect, when freight or hire becomes due and so on. Often the
underlying facts of a breach in the maritime industry do not
correlate to the obligations and liabilities of the parties as set
out in the governing bill of lading and this uncertainty leads to
disputes.
