It could happen to you – abandoned cargo costs freight forwarders dearly
With COVID related port closures, business shut downs and delays in shipments, we are seeing more cargos being abandoned at destination by shippers and consignees, who seem to disappear into the ether when called upon to settle large container demurrage and storage accounts. The freight forwarder is often then left in the firing line to pick up the expenses, only to find out later that there is no or limited cover under their liability insurance policy.
This article by the TT Club outlines the problems that can be encountered and provides some useful tips on how to minimise exposure to such events.
Contact AlphaXO if you have any questions or concerns regarding abandoned cargo