Global Marine
Cargo

Cargo owners and shippers alike share both the positive and negative consequences of the global movement of cargo in the current environment, from traversing various geopolitical environments, evolving economic pacts, and having cargo aboard ever-increasing vessel capacities.

With this rapid and widespread movement, threats impacting cargo whilst in transit and in storage at either ports or static locations, are subjected to various perils including natural disasters, and monitoring risks becomes a greater imperative.

Fast-paced global business growth, coupled with greater consumer demand and continued evolution of the transportation and logistics sectors, have fostered an environment focused on the mass movement of products relying on models of increasing cost efficiency. This has given rise to several new key vulnerabilities such as; mis-declared cargoes aboard vessels with accompanying vessel fires, and container aggregation aboard vessels and at ports. Shippers and cargo owners should be aware of the multitude of cargo volatilities on board and container labelling needs to be as accurate as possible. The increasing size of vessels and continued aggregation of cargo aboard vessels and ports have amplified the need to accurately track product movement by both cargo owners and shippers alike to ensure aggregation risk is fully understood and appropriately accounted for.

For businesses to successfully control and protect against these evolving challenges, quality data input and trade-specific risk management reporting needs to be regularly produced. The ability to track the location of goods in real-time, as well as the conditions that they are stored in, is paramount in mitigating risk.