If news Marine

Common misunderstandings and mistakes when using Incoterms 2010: 15 December 2015; If News 9/2015 Marine. When doing trade it is in both parties interest to define rights, liabilities and obligations regarding transportation and delivery of the goods accurately. Who is to arrange transportation, who bears costs and which costs, who bears the risk of loss of or damage to the goods in transit and is there a requirement to insure the goods and what kind of insurance is expected.

Packing of goods - not just pretty wrapping: 13 April 2015; If News 3/2015 Marine. It sounds simple enough: goods are to be packed so that they withstand the ordinary incidents of the insured transit. Yet cargo underwriters frequently encounter questions regarding the sufficiency of packing, e.g. who is liable for packing, does the packing have an impact on the coverage and to what extent.

Strikes as Marine Cargo peril: 24 September 2014; If News 7/2014 Marine. Bananas and other perishable goods might rotten due to a strike. A vessel might need to change its destination and take the goods on board to another port due to a strike at the original destination. In extreme cases strikers might set a warehouse on fire or damage the goods in terminals. Additional expenses can occur to the owners of the goods in a number of ways as a consequence.

Acts of War and Cargo Insurances: 09 April 2014; If News 3/2014 Marine. Every now and then cargo owners and insurers are face to face with the question what war perils are covered and can be covered with cargo insurance. For obvious and very unfortunate reasons these questions are at the moment raised and hence it is worthwhile to have a little recap on this topic.

Containerized World and 18 000 TEU Challenges: 14 January 2014; If News 1/2014 Marine. We have seen a number of container vessels suffering serious incidents and averages during past years; MSC Napoli, Rena, MOL Comfort, Hanjin Pennsylvania, Hyundai Fortune and Amsterdam Bridge to name a few.

Human error risks in the delivery of raw materials: 17 June 2012; Human error can result in significant losses. Hence, insurance companies must pay more and more attention to the human factor in loss events. For example, the processing industries may suffer important losses due to human errors in the delivery of their raw materials.

The Revised Incoterms: 06 April 2011; Marine Newsletter 1/2011. The Incoterms are used daily by many different operators – salespeople, purchasers, forwarders, agents, bankers, insurers, lawyers, and so on. The individual clauses are used to define the parties in a transaction who take on the costs, risks, and responsibilities involved.

Breakdown of cold chain during pharmaceuticals transportation: 05 May 2010; Lessons from Losses 4/2010. Transport of temperature-sensitive materials such as medical products and foodstuffs has always been linked to increased risk of damage during transport of either complete or partial consignments.

Deliveries to exotic countries: 16 March 2010; Marine Newsletter 2/2010. Business is done where business is, and to many of our customers that means remote places and exotic countries all around the globe. Transportation risks can however be covered just about anywhere in the world.

If helps a successful industry put the wind beneath its wings: 13 January 2010; Marine Newsletter 1/2010. The world’s leading manufacturer of wind-turbine blades is LM Glasfiber, which has supplied blades for more than a third of the wind turbines in the world, saving some 70 M tons of atmospheric CO2 by the production of green power.

Institute Cargo Clauses 2009: 05 October 2009; Marine Newsletter 3/2009. A brief comparison of the 1982 and 2009 Clauses. As a consequence of the way that world trade has developed and to some extent changed its character as a result of more modern transport technology, there is an increased demand from insured parties for up-to-date, clearer, and more advantageous terms of insurance. Additionally, the constantly changing threats from terrorism and piracy have affected the demand for and creation of new clauses. In 2006, an examination of existing cargo clauses was initiated, and, at the beginning of 2009, the revised ICC clauses became available to the insurance market. Besides the Civil Clauses ICC (A), (B) and (C), the updated clauses cover the ICC War and Strikes Clauses.

Common misunderstandings and mistakes when using Incoterms 2010