Mike Yarwood, Managing Director Loss Prevention is joined by Manos Karanikolas, Senior Claims Executive, to discuss the risks and challenges surrounding uncollected or abandoned cargo.

Uncollected cargo is a perennial challenge for freight forwarders and NVOCC operators. The issue can result in considerable costs on container demurrage, detention, storage and disposal costs. Aside from the purely monetary risks, incidents of uncollected cargo demand a significant management resource to resolve and have the potential to affect commercial relationships.

Avoiding uncollected cargo incidents can be challenging, however, management controls and mitigation strategies can assist in reducing the frequency of incidents. Early identification of the risk and being empowered to mitigate the consequences will reduce exposures. All incidents are complex and will incur costs, prevention is therefore better than managing the incident effectively once it has happened. Crucial to prevention is maintaining management procedures to identify shipments, which present a heightened risk and taking evasive action to protect your business...

Contractual challenges interview series: distinctions between liability and cargo insurance

TT LiveBy TT ClubNov 17, 2020