(1) The average for the voluntary sacrifice of the ship, its accessories, the fuel, and the cargo units forming part of the cargo are assessed based on the current market value that these property items would have had at termination of the voyage.
(2) The average for the physical damage of the property items set out in subsection (1) is assessed based on the difference between the current market value of the property at termination of the voyage, and the current market value the property would have had if sold in undamaged condition at termination of the voyage. If property has been repaired following the general average act, then the operative assumption is that the costs expended for the repair of the property correspond to their depreciation.
(3) The average for the loss of a claim to freight corresponds to the amount that is not owed to the carrier as a result of the general average.
(4) If the property voluntarily sacrificed or damaged was the subject of a sale and purchase agreement immediately prior to commencement of the voyage, the operative assumption is that the purchase price itemised in the seller’s invoice corresponds to that property’s current market value.