Loss-free delivery of cargo whether it's grapes from South Africa to Northern Europe, high-tech machinery from Europe to Australia or even clothing from China to Brazil, all cargoes need adequate protection.
Lloyd’s Register (LR) has released what it said were the first Type Approval Requirements for components within Cyber Enabled Systems on board Ships – Procedure for Network and Network-related devices.
In this article for Ship & Offshore, Lars Lange, Secretary General of IUMI, discusses the significant impact global innovations such as digitalisation, increased
interconnectivity, and automation have on the marine insurance sector.
Calling it “a silk road to more global trade” IUMI president Dieter Berg has said in this month’s edition of IUMI Eye that, regardless of its long-term outcome, the Belt and Road Initiative in China sent “very strong signals to a global economy threatened by isolationism and protectionism”, adding that “international business based on openness and cooperation can benefit all stakeholders”.
More than 90% of import cargo moves to the US do not have any insurance, according to Steve Fodor, Director at Association For Trade Compliance. Writing in a recent blog, Fodor said that, while cargo insurance costs about 0.5% of a shipment’s value, most importers do not purchase this coverage.