The Link on Cargo Claims and Fleet Growth
Export Bananas Like A Real Pro!
July 14, 2023
Regulations Governing Marine Cargo Claims
July 14, 2023
A significant shift is on the horizon that could reshape the marine cargo industry’s landscape. [According to Alphaliner’s head analyst Jan Tiedemann] This shift not only carries implications for the shipping industry but also brings to light potential consequences for cargo claims and the recovery of damaged cargo. What is the specific link between cargo claims and fleet growth?
This shift in the container ship market is driven by several factors, including market saturation of containerization and the lack of new markets. The global fleet capacity has now reached around 26 million TEUs and will continue to grow in 2024. A staggering number of container ship deliveries are expected in the next couple of years.
The Growing Fleet: A Double-Edged Sword
As the shipping industry experiences fleet growth, it brings both opportunities and challenges. While an expanding fleet signifies increased capacity in global trade it also raises concerns about the potential rise in cargo claims.
The Impact on Cargo Claims: The Risks
The likelihood of incidents leading to damaged cargo also increases along with fleet growth. Potential risks include issues such as inadequate vessel maintenance, demand for increased speed of port operations, excessive transit times, more transshipment ports involved to transport cargo from origin t destination and congestion at ports. Understanding these risks is crucial for cargo owners and logistics professionals to proactively address potential challenges.
Strategies for Mitigating Cargo Claims
In the face of potential rising cargo claims, it’s essential to equip yourself with effective risk mitigation strategies. From proper packaging and secure stowage to robust documentation and tracking systems, discover the proactive measures that can make a significant difference in safeguarding your shipments.
As the container shipping industry undergoes this significant shift, we encourage you to focus on what you can control. Cargo claims is one of the areas where exporters can take initiative to collect documents and pursue recoveries from liable carriers actively.
Gain valuable insights from industry experts on Recoupex who specialize in cargo claims recoveries. We share practical tips and best practices to minimize the chances of cargo damage during transportation on our blog posts.
Recoupex is a hub of transport lawyers – experts in cargo claims. We assess your case quickly. We have successfully recovered claims from Maersk, Sealand, Hapag-Lloyd, Mediterranean Shipping Company – MSC, CMA CGM, and other carriers.
