Institute Cargo Clauses in Marine Insurance By SN panigrahi
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SN Panigrahi is an experienced professional with expertise in project management, supply chain management, procurement, and indirect taxes. He has conducted over 150 workshops and published more than 500 articles. Panigrahi holds certifications in project management, lean six sigma, and government schemes. He has shared his domain expertise at various national and international forums.
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Basic Shipping Documentation.
Basic Shipping Documentation.
- An induction on the container transport, and its driving forces.
- Outlines of the parties and sectors who involve in the business.
- Outlines of the operation, and
- Introduction of the various key documents associated with each sector of the business, and their significance.
What documents are produced in facilitating the shipment cycle:
- Apart from the physical transportation of the goods from the buyer to the seller, there are various kinds of documents involved.
- This presentation aims at providing a basic knowledge on the key documents.
- For details on the documents, you may need to refer to the relevant text.
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Cargo insurance provides coverage for physical loss or damage to goods during transit by land, sea, or air. It is important for shippers to purchase cargo insurance since carrier liability provides limited coverage. There are several types of cargo insurance policies including open cover policies for multiple shipments and specific policies for single voyages. Cargo insurance offers all-risk coverage and covers losses from events like damage during loading/unloading, weather, and theft. Shippers can ensure both goods and shipping costs are covered.
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INCOTERMS are a set of three-letter standard trade terms used worldwide in international and domestic contracts for the sale of goods. Learn their definitions and how they are used. AFC International can help you import your goods bound for the U.S. quick and easy. Visit http://www.afcinternationalllc.com/ to get started.
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The document discusses various options for designing supply chain networks and their characteristics. It describes manufacturer storage with direct shipping, in-transit merging, distributor storage with package carrier delivery, distributor storage with last-mile delivery, manufacturer/distributor storage with customer pickup, retail storage with customer pickup, and local storage at consumer pickup sites. For each option, it summarizes the performance characteristics in terms of cost factors like inventory, transportation, and facilities as well as service factors like response time, product variety, and customer experience.
Logistic insurance ch 5 marine intro
Marine insurance covers risks associated with transporting cargo by sea. There are different types, including cargo insurance, which insures goods being transported, and hull insurance, which insures ships. Marine insurance contracts are based on principles like utmost good faith between the insured and insurer, indemnity where the insured is compensated for actual losses, and insurable interest where the insured must have a stake in what is insured. Features of marine insurance policies include payment of premiums, coverage periods, disclosure of material details about insured cargo, and claims processes.
Recommended
Basic Shipping Documentation.
Basic Shipping Documentation.
- An induction on the container transport, and its driving forces.
- Outlines of the parties and sectors who involve in the business.
- Outlines of the operation, and
- Introduction of the various key documents associated with each sector of the business, and their significance.
What documents are produced in facilitating the shipment cycle:
- Apart from the physical transportation of the goods from the buyer to the seller, there are various kinds of documents involved.
- This presentation aims at providing a basic knowledge on the key documents.
- For details on the documents, you may need to refer to the relevant text.
Cargo insurance
Cargo insurance provides coverage for physical loss or damage to goods during transit by land, sea, or air. It is important for shippers to purchase cargo insurance since carrier liability provides limited coverage. There are several types of cargo insurance policies including open cover policies for multiple shipments and specific policies for single voyages. Cargo insurance offers all-risk coverage and covers losses from events like damage during loading/unloading, weather, and theft. Shippers can ensure both goods and shipping costs are covered.
INCOTERMS
INCOTERMS are a set of three-letter standard trade terms used worldwide in international and domestic contracts for the sale of goods. Learn their definitions and how they are used. AFC International can help you import your goods bound for the U.S. quick and easy. Visit http://www.afcinternationalllc.com/ to get started.
Marine Insurance Lecture
This document provides information about marine liability insurance and law courses offered at Newcastle University in October 2017 and January 2018. It includes the course modules, lecture and tutorial dates, assignment due dates, and exam information. The document also summarizes the key types of marine insurance including Hull and Machinery (H&M) Insurance, Protection and Indemnity (P&I) Insurance, and Freight, Demurrage and Defense (FD&D) Insurance. It describes the risks each covers and obligations of shipowners.
Containerization and India - Status
The document discusses containerization and the potential for India to develop hub and feeder ports. It defines containerization as a system of standardized shipping containers that can be loaded onto ships, trains, and trucks to efficiently transport freight over long distances. It outlines the major players in container shipping globally and some key metrics on India's container traffic and trade volumes. It analyzes the potential for India to establish hub ports at locations like Jawaharlal Nehru Port Trust, Mundra, and Vishakhapatnam that could consolidate container traffic due to their deep drafts and growing hinterland connectivity via rail and road networks. Developing hub and feeder systems in India could reduce transportation costs for exporters
Customer oriented logistics management
The document discusses logistics management and customer-oriented logistics. It describes logistics as the transport of goods to customers and logistics management as meeting customer demands through planning, control and implementation of movement and storage. The objectives of logistics management are outlined as cost reduction, capital reduction and service improvement. Key facilities decisions, warehousing functions and decisions are also summarized.
Design of supply chain networks
The document discusses various options for designing supply chain networks and their characteristics. It describes manufacturer storage with direct shipping, in-transit merging, distributor storage with package carrier delivery, distributor storage with last-mile delivery, manufacturer/distributor storage with customer pickup, retail storage with customer pickup, and local storage at consumer pickup sites. For each option, it summarizes the performance characteristics in terms of cost factors like inventory, transportation, and facilities as well as service factors like response time, product variety, and customer experience.
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Marine insurance covers risks associated with transporting cargo by sea. There are different types, including cargo insurance, which insures goods being transported, and hull insurance, which insures ships. Marine insurance contracts are based on principles like utmost good faith between the insured and insurer, indemnity where the insured is compensated for actual losses, and insurable interest where the insured must have a stake in what is insured. Features of marine insurance policies include payment of premiums, coverage periods, disclosure of material details about insured cargo, and claims processes.
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The document provides an overview of logistics in India with a focus on different modes of transportation. It discusses that India has the second largest road network at 3.3 million km carrying 65% of freight. The railway network spans 81,511 km and carries around two-thirds of its revenues from freight. It also highlights that India has 12 major and 184 minor ports, with the west coast handling around 70% of total cargo. Sea transportation accounts for 95% of India's trade by volume and 70% by value.
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Marine insurance is the oldest branch of insurance that covers marine cargo and marine hull. It provides protection to cargo during transit by road, rail, sea, and air. The insurance commences from when goods are dispatched and covers them until delivery at the final destination or for up to 60 days after unloading from a vessel. Major requirements for marine cargo export insurance include the invoice value and voyage details. Standard clauses set by Lloyd's of London are used worldwide in marine export and import policies.
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This document defines and explains 13 common international freight terms used in international trade. It provides brief definitions and outlines of key responsibilities for each term, including who is responsible for costs, duties, insurance, and when ownership transfers. Some of the key terms covered are EXW, FCA, FOB, CIF, CPT, CIP, DAF, and DDU.
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Intermodal (combined) transport
Intermodal transport involves using more than one mode of transportation for the same transport container to integrate advantages of different transport modes. It aims to achieve an effective combination of cost, delivery time, and service quality. Key features include using standard transport units that are suitable for loading, carriage, and unloading while maintaining compatibility across the transportation process chain.
Container shipping industry
The document discusses global container shipping, challenges, and marketing opportunities. It provides information on the history and evolution of container shipping. Key points covered include the types of container ships, major trade routes and ports, the role of container shipping in supply chain management, and the leading global freight forwarders. Challenges facing the shipping industry such as changing customer needs, capacity utilization issues, and talent retention are examined. The document concludes with suggestions for marketing opportunities in areas like sustainability, end-to-end services, customer-centric solutions, and innovative operations.
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The document summarizes the INCOTERMS 2020 rules for international commercial terms. It explains that there are 11 INCOTERMS rules divided into two classes: rules for any mode of transport and rules for sea and inland waterway transport. It provides diagrams and descriptions for each rule (EXW, FCA, CPT, CIP, DPU, DAP, DDP, FAS, FOB, CFR, CIF) detailing the obligations of buyers and sellers in terms of costs, risks, and delivery responsibilities under each rule.
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The document discusses INCO Terms 2010, which are a set of international commercial terms published by the International Chamber of Commerce that define the responsibilities of buyers and sellers for the delivery of goods. It outlines the main INCO terms groups and some key individual terms like EXW, FCA, CPT, CIP, DAT, DAP, and DDP, explaining the obligations and risks assigned to buyers and sellers under each term.
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This document discusses various types of commercial contracts related to shipping, including voyage charter parties, time charter parties, and bareboat/demise charter parties. It provides details on key terms and concepts in voyage charter parties, such as laycans, laydays, demurrage, dispatch, notices of readiness (NOR), and bills of lading. The document also summarizes a case related to the validity of a NOR when a vessel is anchored outside of official port limits while waiting for a berth.
Port tariff
Port tariffs are fees charged by port authorities for services rendered. There are many factors that influence the level of port tariffs, including competition between ports, the type and volume of cargo, trade routes, port costs and facilities, transport methods used, exchange rates, agreements between ports, subsidies and regulations, and marketing. Port tariffs include fees for vessel berthing and cargo handling, storage, equipment usage, security, and more. Tariffs vary based on ship size and type, cargo type and amount, container usage, passenger volume, and other considerations. Exemptions may apply to some goods in transit.
Marine Cargo Insurance
This document provides an overview of marine cargo insurance. It discusses key principles like insurable interest and indemnity. It also covers different types of marine cargo policies, clauses used in policies, factors considered in underwriting proposals, and a brief overview of claims handling. The goal is to educate on all aspects of marine cargo insurance and its importance in facilitating international trade.
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This document provides an overview of various modes of transportation for shipping goods, including sea freight, air freight, overland transport, and multimodal transport. It describes the key characteristics of different sea freight options like containerized, conventional cargo, charter shipping, and RO/RO. It also outlines the benefits of air freight and considerations for other modes. The goal is to help choose appropriate shipping methods based on factors such as cost, speed, reliability, and security needed.
Bunkering Industry
The document discusses the bunkering industry and its shipping tanker operations. It defines bunkering as providing fuel oil to vessels and includes logistics of loading and distributing fuel among bunker tanks. It describes different types of bunker fuels like heavy fuel oil, diesel oil, marine gas oil, lube oil, and LNG fuel. It outlines the typical 3-step bunkering operation procedure of preparation, performance, and wrap-up. It also discusses ship-to-ship and stern line methods of bunkering and explains that bunker C fuel is most commonly used, consisting of fuels like marine gas oil and heavy fuel oil.
INTERNATIONAL SHIPPING TERMS , INCOTERMS
INTERNATIONAL SHIPPING TERMS (INCOTERMS)
1. EXW – Ex Works (named place of delivery)
2. FCA – Free Carrier (named place of delivery)
3. CPT – Carriage Paid To (named place of destination)
4. CIP – Carriage and Insurance Paid to (named place of destination)
5. DAT – Delivered At Terminal (named terminal at port or place of destination)
6. DAP – Delivered At Place (named place of destination)
7. DDP – Delivered Duty Paid (named place of destination)
8. FAS – Free Alongside Ship (named port of shipment)
9. FOB – Free on Board (named port of shipment)
10. CFR – Cost and Freight (named port of destination)
11. CIF – Cost, Insurance & Freight (named port of destination)
Dangerous Goods Awareness Slides 03062015.ppt
The document provides an overview of transportation of dangerous goods regulations. It defines dangerous goods as items that can pose health, safety or environmental risks. Nine classes of dangerous goods are described, including explosives, gases, flammable liquids and solids, oxidizers, toxics, radioactive materials, and corrosives. The regulations require dangerous goods to be properly classified, packaged, labeled, documented, and transported. Personnel must be trained in handling dangerous goods safely and be aware of requirements.
Presentation of ocean transportation
1. Flag
By international convention, each vessel engaged in international trade must be registered in a spesific country, and therefore flies a spesific country’s flag. In many ways vessel is an extention of the territory of this country, and the flag state has the authority and responsibility to enforce regulations over vessels registered under its flag, including those relating to inspection, certification, and issuance of safety and pollution prevention documents.
Apart from that, the flag also determines the cost of operation and crew. The flag of developed countries tend to impose very substantial regulations on the way a ship is operated, in such areas as the composition of the crew on board, its minimum training requirement, its nationality, the work rules on board, the vacation time earned by the crew and so on. In addition, taxation can be significantly higher. In contrast, regulations and taxes for some developing countries are minimal. For example, operation costs of a cargo ship flying the US flag were 22.053 USD$ per day, whereas the same ship flying a developing country’s flag were 7.454 USD$ per day. Also same for crew cost, the US-flagged ship had to pay 13.655USD$ per day, but the foreign-flagged ships only paid 2.590 USD$ per day for 22 crew member.
These cost differences are also available for annual tax.
2. The term “flag of convenience” refers to registering a ship in a sovereign state different from that of the ship's owners.
Ships registered under flags of convenience can often reduce operating costs or avoid the regulations of the owner's country. To do so, a vessel owner will find a nation with an open registry, or a nation that allows registration of vessels owned by foreign entities. A ship operates under the laws of its flag state, so vessel owners often register in other nations to take advantages of reduced regulation, lower administrative fees, and greater numbers of friendly ports.
Countries attempt to influence, as much as possible, the flags of the ships that enter their ports. Although they cannot outright ban certain nationalities, they can prevent ships not registered in the country from carrying certain freight. Such as cabotage rules.
3. Shipping lines will charge container shipper either by published tariff rates or with negotiating contract rates with large volume shippers. Rates are determined per package or by weight, including cargo shipped in containers on a less-than-container-load (LCL) basis. In addition to the freight rate there are additional charges which the international logistic professional must be aware.
4. The Hague Rules of 1924 is an international convention to impose minimum standards upon commercial carriers of goods by sea. It restricts the liability of the carrier to SDR 666,67 per package or per customary freight unit. In 1968 the Hague Rules were slightly amended to become the Hague-Visby Rules.
Containerization
Containerization involves transporting goods in standardized steel containers that can be loaded onto ships, trains, and trucks for intermodal transfer without opening. Major players in container transport include shipping lines like Maersk and ports around the world.
In India, container traffic is growing due to increasing international trade and containerization of goods. This presents an opportunity for hub and feeder ports in India to capture cost savings currently going to ports abroad. Potential hub ports are Jawaharlal Nehru Port near Mumbai, which has strong rail connectivity despite constraints, and Mundra and Vishakhapatnam, which have the deepest drafts to accommodate larger ships. Hinterland connectivity and capacity will be key factors for
03 Carriage of Goods.ppt
The document discusses various modes of international cargo transportation. It introduces maritime transport, air transport, railway transport, and road transport as the main modes. Each mode has different requirements and features that suit different types of freight. The modes can compete or complement each other based on factors like cost, speed, and safety. Maritime transport is then discussed in more detail, covering topics like liner transport, shipping by chartering, and liner freight rates and surcharges.
Types of commercial ship
The document discusses different types of ships, including container ships, bulk carriers, tankers, roll-on roll-off ships, passenger ships, offshore vessels, fishing vessels, specialty vessels, high-speed crafts, and dredgers. Container ships transport cargo in containers of various standardized sizes. Bulk carriers transport unpackaged dry cargo like grains, ores, and coal. Tankers transport liquid cargo like crude oil, liquefied gas, and chemicals in bulk.
Marine insurance
1. A vessel carrying segregated gasoline and gasoil cargoes was found to have off-specification gasoil upon arrival at the discharge port due to a contaminated flash point.
2. Testing revealed the double valve segregation between cargo tanks was not in place, allowing for a vapour phase contamination from the gasoline to impact the higher flash point gasoil.
3. Further gas chromatography–mass spectrometry testing of cargo samples identified the source of contamination as vapors from the gasoline cargo affecting the gasoil through the common inert gas system when segregation was breached.
Logistic insurance ch10 practical marine insurance
This document discusses marine cargo insurance. It provides information on choosing a marine insurance policy, including criteria to consider like coverage amounts and policy conditions. It describes the process for obtaining a policy, including submitting an application form with cargo details, getting a premium quote, paying the premium, and receiving the policy document. It also discusses considerations like insurable interests, covered risks, exclusions, duration. Finally, it provides an overview of Incoterms, the international commercial terms used in sales contracts to clarify delivery responsibilities and risks.
export import procedure
This document provides information on marine insurance and ISO 9001 certification. It discusses key types of marine insurance policies like voyage, time, mixed, valued and unvalued policies. It also outlines the scope of marine insurance such as hull, cargo, freight and liability insurance. The document then describes the procedure to obtain marine insurance and complete a guaranteed remittance form for exports. It concludes with an overview of ISO 9001 certification including the benefits for organizations and customers, as well as the procedure to obtain ISO 9001 certification.
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Marine Insurance
Marine insurance is the oldest branch of insurance that covers marine cargo and marine hull. It provides protection to cargo during transit by road, rail, sea, and air. The insurance commences from when goods are dispatched and covers them until delivery at the final destination or for up to 60 days after unloading from a vessel. Major requirements for marine cargo export insurance include the invoice value and voyage details. Standard clauses set by Lloyd's of London are used worldwide in marine export and import policies.
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This document defines and explains 13 common international freight terms used in international trade. It provides brief definitions and outlines of key responsibilities for each term, including who is responsible for costs, duties, insurance, and when ownership transfers. Some of the key terms covered are EXW, FCA, FOB, CIF, CPT, CIP, DAF, and DDU.
Logistics and Transportation
Supply chain management involves efficiently managing the processes involved in meeting customer demand for a product or service, from sourcing raw materials to delivering the final product to customers. Logistics is the part of the supply chain that plans, implements, and controls the efficient flow of goods and services and related information from point of origin to point of consumption. It aims to deliver the right product in the right quantity, condition, and packaging to the right customers at the right time and place at the right cost. Effective logistics management is important for businesses to satisfy customers and maximize profitability.
Intermodal (combined) transport
Intermodal transport involves using more than one mode of transportation for the same transport container to integrate advantages of different transport modes. It aims to achieve an effective combination of cost, delivery time, and service quality. Key features include using standard transport units that are suitable for loading, carriage, and unloading while maintaining compatibility across the transportation process chain.
Container shipping industry
The document discusses global container shipping, challenges, and marketing opportunities. It provides information on the history and evolution of container shipping. Key points covered include the types of container ships, major trade routes and ports, the role of container shipping in supply chain management, and the leading global freight forwarders. Challenges facing the shipping industry such as changing customer needs, capacity utilization issues, and talent retention are examined. The document concludes with suggestions for marketing opportunities in areas like sustainability, end-to-end services, customer-centric solutions, and innovative operations.
Incoterms2020 Presentation in english
The document summarizes the INCOTERMS 2020 rules for international commercial terms. It explains that there are 11 INCOTERMS rules divided into two classes: rules for any mode of transport and rules for sea and inland waterway transport. It provides diagrams and descriptions for each rule (EXW, FCA, CPT, CIP, DPU, DAP, DDP, FAS, FOB, CFR, CIF) detailing the obligations of buyers and sellers in terms of costs, risks, and delivery responsibilities under each rule.
Inco Terms PPT
The document discusses INCO Terms 2010, which are a set of international commercial terms published by the International Chamber of Commerce that define the responsibilities of buyers and sellers for the delivery of goods. It outlines the main INCO terms groups and some key individual terms like EXW, FCA, CPT, CIP, DAT, DAP, and DDP, explaining the obligations and risks assigned to buyers and sellers under each term.
Legal ,Commercial , Shipping contracts, Hague rules
This document discusses various types of commercial contracts related to shipping, including voyage charter parties, time charter parties, and bareboat/demise charter parties. It provides details on key terms and concepts in voyage charter parties, such as laycans, laydays, demurrage, dispatch, notices of readiness (NOR), and bills of lading. The document also summarizes a case related to the validity of a NOR when a vessel is anchored outside of official port limits while waiting for a berth.
Port tariff
Port tariffs are fees charged by port authorities for services rendered. There are many factors that influence the level of port tariffs, including competition between ports, the type and volume of cargo, trade routes, port costs and facilities, transport methods used, exchange rates, agreements between ports, subsidies and regulations, and marketing. Port tariffs include fees for vessel berthing and cargo handling, storage, equipment usage, security, and more. Tariffs vary based on ship size and type, cargo type and amount, container usage, passenger volume, and other considerations. Exemptions may apply to some goods in transit.
Marine Cargo Insurance
This document provides an overview of marine cargo insurance. It discusses key principles like insurable interest and indemnity. It also covers different types of marine cargo policies, clauses used in policies, factors considered in underwriting proposals, and a brief overview of claims handling. The goal is to educate on all aspects of marine cargo insurance and its importance in facilitating international trade.
Shipping and inco term
This document provides an overview of various modes of transportation for shipping goods, including sea freight, air freight, overland transport, and multimodal transport. It describes the key characteristics of different sea freight options like containerized, conventional cargo, charter shipping, and RO/RO. It also outlines the benefits of air freight and considerations for other modes. The goal is to help choose appropriate shipping methods based on factors such as cost, speed, reliability, and security needed.
Bunkering Industry
The document discusses the bunkering industry and its shipping tanker operations. It defines bunkering as providing fuel oil to vessels and includes logistics of loading and distributing fuel among bunker tanks. It describes different types of bunker fuels like heavy fuel oil, diesel oil, marine gas oil, lube oil, and LNG fuel. It outlines the typical 3-step bunkering operation procedure of preparation, performance, and wrap-up. It also discusses ship-to-ship and stern line methods of bunkering and explains that bunker C fuel is most commonly used, consisting of fuels like marine gas oil and heavy fuel oil.
INTERNATIONAL SHIPPING TERMS , INCOTERMS
INTERNATIONAL SHIPPING TERMS (INCOTERMS)
1. EXW – Ex Works (named place of delivery)
2. FCA – Free Carrier (named place of delivery)
3. CPT – Carriage Paid To (named place of destination)
4. CIP – Carriage and Insurance Paid to (named place of destination)
5. DAT – Delivered At Terminal (named terminal at port or place of destination)
6. DAP – Delivered At Place (named place of destination)
7. DDP – Delivered Duty Paid (named place of destination)
8. FAS – Free Alongside Ship (named port of shipment)
9. FOB – Free on Board (named port of shipment)
10. CFR – Cost and Freight (named port of destination)
11. CIF – Cost, Insurance & Freight (named port of destination)
Dangerous Goods Awareness Slides 03062015.ppt
The document provides an overview of transportation of dangerous goods regulations. It defines dangerous goods as items that can pose health, safety or environmental risks. Nine classes of dangerous goods are described, including explosives, gases, flammable liquids and solids, oxidizers, toxics, radioactive materials, and corrosives. The regulations require dangerous goods to be properly classified, packaged, labeled, documented, and transported. Personnel must be trained in handling dangerous goods safely and be aware of requirements.
Presentation of ocean transportation
1. Flag
By international convention, each vessel engaged in international trade must be registered in a spesific country, and therefore flies a spesific country’s flag. In many ways vessel is an extention of the territory of this country, and the flag state has the authority and responsibility to enforce regulations over vessels registered under its flag, including those relating to inspection, certification, and issuance of safety and pollution prevention documents.
Apart from that, the flag also determines the cost of operation and crew. The flag of developed countries tend to impose very substantial regulations on the way a ship is operated, in such areas as the composition of the crew on board, its minimum training requirement, its nationality, the work rules on board, the vacation time earned by the crew and so on. In addition, taxation can be significantly higher. In contrast, regulations and taxes for some developing countries are minimal. For example, operation costs of a cargo ship flying the US flag were 22.053 USD$ per day, whereas the same ship flying a developing country’s flag were 7.454 USD$ per day. Also same for crew cost, the US-flagged ship had to pay 13.655USD$ per day, but the foreign-flagged ships only paid 2.590 USD$ per day for 22 crew member.
These cost differences are also available for annual tax.
2. The term “flag of convenience” refers to registering a ship in a sovereign state different from that of the ship's owners.
Ships registered under flags of convenience can often reduce operating costs or avoid the regulations of the owner's country. To do so, a vessel owner will find a nation with an open registry, or a nation that allows registration of vessels owned by foreign entities. A ship operates under the laws of its flag state, so vessel owners often register in other nations to take advantages of reduced regulation, lower administrative fees, and greater numbers of friendly ports.
Countries attempt to influence, as much as possible, the flags of the ships that enter their ports. Although they cannot outright ban certain nationalities, they can prevent ships not registered in the country from carrying certain freight. Such as cabotage rules.
3. Shipping lines will charge container shipper either by published tariff rates or with negotiating contract rates with large volume shippers. Rates are determined per package or by weight, including cargo shipped in containers on a less-than-container-load (LCL) basis. In addition to the freight rate there are additional charges which the international logistic professional must be aware.
4. The Hague Rules of 1924 is an international convention to impose minimum standards upon commercial carriers of goods by sea. It restricts the liability of the carrier to SDR 666,67 per package or per customary freight unit. In 1968 the Hague Rules were slightly amended to become the Hague-Visby Rules.
Containerization
Containerization involves transporting goods in standardized steel containers that can be loaded onto ships, trains, and trucks for intermodal transfer without opening. Major players in container transport include shipping lines like Maersk and ports around the world.
In India, container traffic is growing due to increasing international trade and containerization of goods. This presents an opportunity for hub and feeder ports in India to capture cost savings currently going to ports abroad. Potential hub ports are Jawaharlal Nehru Port near Mumbai, which has strong rail connectivity despite constraints, and Mundra and Vishakhapatnam, which have the deepest drafts to accommodate larger ships. Hinterland connectivity and capacity will be key factors for
03 Carriage of Goods.ppt
The document discusses various modes of international cargo transportation. It introduces maritime transport, air transport, railway transport, and road transport as the main modes. Each mode has different requirements and features that suit different types of freight. The modes can compete or complement each other based on factors like cost, speed, and safety. Maritime transport is then discussed in more detail, covering topics like liner transport, shipping by chartering, and liner freight rates and surcharges.
Types of commercial ship
The document discusses different types of ships, including container ships, bulk carriers, tankers, roll-on roll-off ships, passenger ships, offshore vessels, fishing vessels, specialty vessels, high-speed crafts, and dredgers. Container ships transport cargo in containers of various standardized sizes. Bulk carriers transport unpackaged dry cargo like grains, ores, and coal. Tankers transport liquid cargo like crude oil, liquefied gas, and chemicals in bulk.
Marine insurance
1. A vessel carrying segregated gasoline and gasoil cargoes was found to have off-specification gasoil upon arrival at the discharge port due to a contaminated flash point.
2. Testing revealed the double valve segregation between cargo tanks was not in place, allowing for a vapour phase contamination from the gasoline to impact the higher flash point gasoil.
3. Further gas chromatography–mass spectrometry testing of cargo samples identified the source of contamination as vapors from the gasoline cargo affecting the gasoil through the common inert gas system when segregation was breached.
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13 international freight terms that you should know
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Legal ,Commercial , Shipping contracts, Hague rules
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Similar to Institute Cargo Clauses in Marine Insurance By SN panigrahi
Logistic insurance ch10 practical marine insurance
This document discusses marine cargo insurance. It provides information on choosing a marine insurance policy, including criteria to consider like coverage amounts and policy conditions. It describes the process for obtaining a policy, including submitting an application form with cargo details, getting a premium quote, paying the premium, and receiving the policy document. It also discusses considerations like insurable interests, covered risks, exclusions, duration. Finally, it provides an overview of Incoterms, the international commercial terms used in sales contracts to clarify delivery responsibilities and risks.
export import procedure
This document provides information on marine insurance and ISO 9001 certification. It discusses key types of marine insurance policies like voyage, time, mixed, valued and unvalued policies. It also outlines the scope of marine insurance such as hull, cargo, freight and liability insurance. The document then describes the procedure to obtain marine insurance and complete a guaranteed remittance form for exports. It concludes with an overview of ISO 9001 certification including the benefits for organizations and customers, as well as the procedure to obtain ISO 9001 certification.
Mis And Org Behaviour2
Espair Insurance Company was incorporated in 2009 and aims to have a large market share in Ghana's insurance industry within two years. It currently has six branches nationwide and plans to expand nationwide. The presentation introduces Espair's leadership and staff members, who were selected based on personality traits matching their roles. Their vision is to provide excellent customer service and enhance clients' peace of mind.
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2) Major classes of general takaful are discussed including motor, fire, marine, and miscellaneous takaful along with some common types of coverage in each class.
3) The claims procedures section provides an overview of checking coverage, maintaining a claims register, and investigating claims as part of the claims process.
10 Questions To Ask Before You Buy Cargo Insurance
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Topic 8 – Risk Management & InsuranceBAFI 1016 Perso.docx
Topic 8 – Risk Management & Insurance
BAFI 1016 Personal Wealth Management
Introduction A financial plan must take into account the possibility of risks such as disability and premature death may occur and aim to:
Eliminate them, or
Minimise their effectA systematic approach should be taken to identify and manage these risks
Risk
Speculative riskArises where there is a chance of a loss or a gainExamples:
Gambling; Once the bet is placed, there can only be a win or a loss
Setting up a business; The business will succeed or fail
Risk continued
Pure riskArises where there is only a
possibility of loss or no lossCategories of pure risk
Personal
Property and (see next slide)
Risk continued
Liability
Common law – e.g. negligence
Statute law – e.g. faulty product
Contract – e.g. construction
Risk Management
Risk management process can be divided into 3 broad steps:
1. Identification and evaluation of potential risks
Identify possible losses and their costs
Risk Management continued
2. Management of identified risks
Seek to avoid and minimise risks
3. Program review
Regularly reassess to ensure ongoing protection
Personal Risk Management
1. Identification
Premature death
Prolonged illness or injury
Medical costs
Business risks
Personal Risk Management continued
2. Evaluation of personal risks
a. Lump sum costs in the event of premature death include:
Burial and associated expenses
Estate administration costs
Final medical and associated care
Debt clearing
Adjustment expenses
Personal Risk Management continued
b. Provision for dependents
The multiple approach
- Relatively simple to calculate
- Ignores individual resources and
commitments
- Assumes constant resources and
inflation
Personal Risk Management continued
The needs approach
- Requires relatively detailed dynamic budgeted information necessitating reassessment from time to time
c. Disablement costs can include:
Medical expenses
Other costs associated with the disability
Provision of an income to support
any dependants
Personal Risk Management continued
3. Control measures
Lifestyle factors such as fitness, diet, smoking and alcohol.
4. Financing measures
Retention: losses met from
individual’s own resources or via insurance excess
Transfer: financial responsibility
passed to another party – typically via insurance
House and Contents Risk Management
1. Identification
e.g. fire, storm, water damage, burglary, impact by vehicles and earthquake
2. Evaluation
Value only considered for building and contents as land will always remain
3. Control measures
Smoke detectors, burglar alarms, deadlocks etc
House and Contents Risk Management continued
4. Financing measures
Adequate insurance
Replacement value
Indemnity value
Consider value of contents
Consider impacts of a ‘co-insurance or average clause’ which seeks to pass on some of the financial impacts of underinsurance to insured
House and Contents Risk Management continuedExa ...
Hull & Machinery Insurance and Claims
This 2 day Hull & Machinery Insurance and Claims
workshop will provide participants with a key understanding of the essential protection for vessels against various forms of damage and how can ship owners and managers make their claims on such damages. The vessel itself, including the machinery and equipment, are all insured to the full value, with the following risks possibly indemnified as well
depending on the type of insurance cover:
• Total loss (actual or constructive) or expenses that
might be incurred in repairing / replacing damaged
parts of hull, machinery and other equipment
• Expenses paid for prevention, minimizing of
damages or calculation of loss, in case such
expenses are caused by an insured peril
• Missing vessel
• General Average contribution
• Salvage expenses
Logistic insurance ch2 insurance intro
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A supply chain is a Chain of Supplies -
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➢ GST is a comprehensive indirect tax on the supply of goods and services throughout India that replaced multiple cascading taxes levied by the central and state governments.
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Institute Cargo Clauses in Marine Insurance By SN panigrahi
- 2. 2 SN Panigrahi is a Versatile Practitioner, Strategist, Energetic Coach, Learning Enabler & Public Speaker. He is an International-Corporate Trainer, Mentor & Author He has diverse experience and expertise in Project Management, Contract Management, Supply Chain Management, Procurement, Strategic Sourcing, Global Sourcing, Logistics, Exports & Imports, Indirect Taxes – GST etc. He had done more than 150 Workshops on above Published more than 500 Articles; More than 60 Youtube Presentations He is an Engineer + MBA +PGD ISO 9000 / TQM with around 29 Yrs of Experience He is a certified PMP® from PMI (USA) and become PMI India Champion Also a Certified Lean Six Sigma Green Belt from Exemplar Global Trained in COD for 31/2 Yrs. on Strategy & Leadership GST Certified – MSME – Tech. Dev. Centre (Govt of India) ZED Consultant – Certified by QCI – MSME (Govt of India) Member Board of Studies, IIMM Co-Chairman, Indirect Tax Committee, FTAPCCI Empanelled Faculty in NI MSME He has shared his domain expertise in various forums as a speaker & presented a number of papers in various national and international public forums and received a number of awards for his writings and contribution to business thoughts. SN Panigrahi 9652571117 snpanigrahi1963@gmail.com Hyderabad
- 3. SN Panigrahi 3 Institute cargo clauses come embedded in a marine insurance policy which covers cargo in-transit. These clauses are there to specify what kind of items in the cargo is covered in case of any loss or damage to the shipment. It is interesting to note; institute cargo clause can cover anything from the cargo to the container that holds its value along with the transport mode which is used to ship the items. Mainly, there are three basic sets of institute cargo clauses; A, B, C. Your coverage is directly related to your insurance premium. It means, the higher the marine insurance premium you pay; the more would be coverage you get.
- 4. 4 Institute Cargo Clause A: It is considered to be one of the widest marine insurance coverages and therefore, you should be ready to pay the high premium for this as you would be getting the extensive cover. Institute Cargo Clause B: It is considered to be slightly a restrictive cover and therefore, the premium is moderate. The policyholder mainly asks for the coverage for some more valuable items or only a partial cargo. Institute Cargo Clause C: It is the most restrictive coverage, and you should be ready to pay the low premium. However, as the premium would be low, your coverage would also be less. Here are the three institute cargo clauses as detailed below:
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- 6. SN Panigrahi 6 In a case, where goods are insured during transport, irrespective of the fact whether it is by land, air or sea; in case cargo is lost or damaged during transit; the amount would be refunded or replaced to whom who holds its ownership. For example, the shipment receiver may not file a claim on their inventory until it receives it. In case, the shipper holds ownership, and the insured cargo gets damaged, the shipper would get the benefits of the insurance for their goods. In this way, buying a marine insurance getting the cargo insured is beneficial for both the parties. In any case, the above cargo clauses will not offer coverage in the following situations= Loss or damage happens due to wilful misconduct of the policyholder Loss or damage happen due to insufficiency or unsuitability of packaging Loss or damage happen due to delay Loss or damage happen due to insolvency or financial default of the operators of the vessel Loss or damage or expenses directly or indirectly arise due to nuclear fission, atomic activity, etc.
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