In the U.S., anchorages along the East, West, and Gulf Coast ports continue to fill, and the number of waiting container vessels remains exceptionally high. According to MarineTraffic data, as of last week, the estimated value of cargo waiting offshore in these ports is more than $40 billion.
The bottlenecks are further tying up U.S. supply chains and are spreading from the docks to freight rail networks, adding new complications for importers trying to manage the flow of goods.
This raises obvious questions about delay, which generally is not covered under Cargo Liability policies but will lead to claims. In such cases, it’s important to defend or deflect the claims down to the carrier.
by Richard Kamppari Baker, World Insurance Claims Director, richard@worldinsuranceagency.com