International trade in perishable cargo is a growth area for container carriers, now accounting for over 90% of world maritime reefer transport capacity and making inroads to airfreight as well. As ever, reward can be countered by risk.
While perishable cargo is high paying freight, it can also produce a high value claims. Shippers of such cargo - ranging from foodstuffs through to pharmaceuticals - will generally rely on specialist support throughout the supply chain process. If a booking is accepted correctly and the empty container is 'pre-tripped' properly and released to the shipper with the booked temperature/vent set correctly, the chance of the reefer breaking down in transit is low.
“While perishable cargo is high paying freight, it can also produce a high value claims”
The majority of perishable cargo claims occur due to confusion over Celsius and Fahrenheit setting, the temperature or vent is not set correctly and the container is not checked or plugged in throughout the supply chain. This article looks at some critical processes which - if done correctly - increase customer satisfaction and profitability or, conversely, lead to costly and time-consuming claims.
TT Club, the leading international transport and logistics insurance provider, today announces its financial results for the year ended 31 December 2015, maintaining its A- (Excellent) rating by agency AM Best for the 10th consecutive year.
Whilst perishable cargo is often valuable freight, it can also give rise to higher exposures, which should provide adequate incentive for extra care to be taken by all stakeholders.
Leading Insurance provider to the international freight transport industry, TT Club has published a mid-year trading update for the eight-month period 1 January - 31 August 2015.
Compliance with international regulation requires alertness to change. In international trade, compliance also needs sophisticated collaboration. It’s time to grasp opportunity.
