Maersk Honam Highlights The Importance Of Cargo Insurance

- Mar 27, 2018-

iContainers, an online freight forwarder, said that the previous "Maersk Honam" fire incident reminded the industry people of the importance of cargo insurance.elbow reducer


Klaus Lysdal, vice president of sales and operations at iContainers, said that considering Maersk Line has now announced general average, it means that current stocks must cover a portion of ship damage, towing, clean-up and legal settlements.


iContainers stated that the incident “Maersk Honam” emphasized the importance of continuing investment in cargo insurance. According to the law, all transport companies are obliged to provide a minimum amount of insurance, but the insurance coverage is limited. Therefore, the shipper needs to invest in additional insurance to protect himself from the worst-case effects. FF flange


According to the latest incident update, "Maersk Honam" has been towed by Maersk Line to Jebel Ali in the United Arab Emirates, and its cargo will be unloaded. However, Maersk Line’s 2M alliance partner, Mediterranean Shipping, said that it is expected that the time of arrival of the ship at Jebel Ali is still to be confirmed and may arrive in two weeks.


iContainers added that prior to the vessel’s arrival in Hong Kong, the Port Authority will ensure that all fires on the ship have been extinguished and the status of the vessel is determined. This process may continue to delay the process of vessel porting.steel flange


Lysdal said that for insurance customers, filing a claim through insurance will help speed up the process of goods release. In addition, claims are usually processed more quickly through insurance companies.


Since Maersk Line has declared general average, it is likely that the owner who has not purchased general average insurance will be able to pay part of the amount of the loss in proportion. In the absence of cargo insurance, the cargo of these shippers may be seized until the relevant costs are paid.