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Why Insure Your Cargo?
ONE Apus Finally Departs Kobe
Container Cargo Vessel ONE Apus, after 98 days, has finally departed Kobe, Japan for Long Beach, California. The vessel is due to arrive on March 30, 2021.
On November 30, 2020, the vessel encountered gale-force winds and large swells resulting in the loss of an estimated 1800 containers that fell into the ocean. Numerous containers left on deck were damaged which necessitated the vessel to divert to Japan to complete the container discharge and make vessel repairs. The repairs had been ongoing since December.
Why do you need Marine Cargo Insurance?
It has been reported that insurance claims from this accident are anticipated to exceed $100 million.
What is General Average?
While ONE Apus has not declared a “General Average Declaration” on this voyage, shippers should have Marine Insurance to be protected, as a vessel general average is a principle of maritime law whereby all stakeholders in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole of the vessel in an emergency.
Contact a Western Overseas Representative to learn more about Marine Cargo Insurance and how to avoid the possibility of a General Average declaration, should a vessel holding your cargo declare it. It is best to ship cargo that is insured. Make the better decision and insure, insure, insure.
Photo source, click here.
