Cargo pre-shipment surveys, also known as pre-loading surveys, are essential in ensuring the cargo’s condition meets the required standards in shipping contracts. These surveys are particularly important for shipowners and charterers to understand the condition of unusual commodities before shipment, providing insights during transportation by sea, rail, or road. 1. Objectives of cargo pre-shipment surveys
Today, we join the maritime sector in observing the notable World Maritime Day, a day of reflection and commitment to our oceans’ health and sustainability. This year holds particular significance as we commemorate the 50th anniversary of the groundbreaking International Convention, MARPOL, a pivotal framework formulated by the International Maritime Organization (IMO) dedicated to preventing
When working in the realm of marine insurance, prompt claims handling is a must. You want to ensure your clients feel supported when they need you most. In other words, when an event disrupts the flow of their business. In such circumstances, your customer satisfaction hangs by a thread. It’s all down to how swiftly
Insurance disputes are bound to happen when you are in shipping and trading. Find out which dispute resolution strategies help you solve them amicably.
When exporters or importers, or even freight forwarders, purchase insurance for chilled and frozen cargo, they may think they won’t have to worry about any issues arising during transport. As a policyholder, you tend to assume you’ve taken out comprehensive insurance. But this isn’t necessarily the case. Granted, the Institute Frozen/Chilled Food and Frozen/Chilled Meat
Understanding the doctrine of subrogation is key to pursuing successful recovery actions. Especially when there are plenty of aspects you, as an insurer, must take into account: The basis of subrogation in different jurisdictions. The steps to take over the rights and remedies of the assured. The distribution of recovery in case of partial indemnity.
Charterers and shipowners have clear obligations under charter party: The shipowner must ensure the vessel is ready to receive cargo and fitted for the service when it’s delivered to the charterer The charterer must redeliver the vessel in the same order and condition it was when it was first placed at their disposal, except ordinary
Marine surveyors are skilled, detail-oriented professionals. But they are also human and can’t be expected to be infallible. The issue is that, if they miss something while conducting their inspections, you may end up suffering dire consequences. In this article, we’ll explore 5 frustrating reasons why a surveyor may cause you financial loss. But, before
2022 has been a perfect storm for the shipping and marine insurance industries. The sector was plagued by uncertainty, with a number of geopolitical and economic challenges unfolding as the year went by. Looking ahead, there’s still concern about certain critical issues that are likely to take their toll on marine cargo loss and recoveries.