CARGO INSURANCE – Sinadad Logistics

Cargo Insurance is an important aspect of global freight management – according to a survey by the World Shipping Council, an average of 1,390 containers are lost at sea every year

Your cargo is prone to many risks – damages or losses during storage, handling or transport – and can have a detrimental impact on your company.

Unfortunately sometimes due to circumstances beyond our control, in the event of an emergency, a cargo ship may voluntarily sacrifice part of its cargo. This is a principle of maritime law termed ‘General Average’, according to which all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole. In this example, the carrier will not be responsible for your share of General Average, so it is of the utmost importance you have Cargo Insurance in place.