Well-ensured... let's go.
Anyone who occasionally sends a sea container over from the Far East will not often think about what can happen en route. We all know the examples of rebel shelling in the Red Sea, and there are also plenty of storms that pose a danger to a safe crossing. But what is not given much attention are the risks associated with engine failure or a ship running aground. High costs then arise for securing and sometimes towing the ship to its final destination. A good example is the container ship the Ever Given, which ran aground in the Suez Canal. Delays result in additional costs and, oddly enough, these costs are recovered by the shipping companies from the companies that have a container or several containers on board. The shipping companies pass on the salvage costs resulting from engine trouble or an obstruction to their customers.
A good example is the container ship the Ever Given, which ran aground in the Suez Canal. Delays result in additional costs and, oddly enough, these costs are recovered by the shipping companies from the companies that have a container or several containers on board. The shipping companies pass on the salvage costs arising from engine trouble or an obstruction to their customers.
Recently, a container ship was en route to Rotterdam where three clients of BF Global had a number of containers on board. This vessel suffered engine trouble more than 100 miles before arrival and spent several weeks offshore. For the costs of salvaging this ship, (think towing costs) a deposit had to be made by the companies that had cargo on board this ship. These costs were apportioned according to the value of the goods involved. So the more expensive the cargo, the higher the costs that were recovered. You also have to deal with other costs of late delivery, longer container hire, inability to keep appointments, or missing sales opportunities. Unfortunately, you cannot insure yourself for the latter risks, but for risks such as salvage costs and there is certainly the possibility of taking out a good transport insurance policy. This can prevent a lot of hassle. If you want to know more about insurance options, contact Peter Groenewoud, he knows almost everything about it.
