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My company was notified that we had a container on the Ever Given, which has gone to General Average Procedures. We don’t have Marine Insurance. This is going to be fun!!!!
They should have had @Nan D. in charge of that, she would have made sure the container was insured at sea!
MAJOR finger pointing happening at the moment!
What's the big deal? Won't it just be a few days late?
Oh Jimbo! Oh it is soooooooooo much bigger than that. We get a percentage of the FINAL BILL the Ever Given incurs. I suspect we will abandon goods and wait to be sued. But it’s a huge HUGE thing. https://theloadstar.com/forwarders-should-move-quickly-on-ever-given-ga-but-legal-wrangle-looms/
Here's an interesting bit from the article: "However, the claim came amid reports that the Suez Canal Authority expected to file a damage claim for up $1bn." I hope your spreadsheet has room for a billion dollars! Maybe you can just get it to flash "We're screwed!"My work has been interesting as well, several very high up members of the leadership team have left with no notice this week. Literally a single email sent at 5:30 and nothing since then. In order to make us feel better they set up a huge zoom call where the replacement gave us a BS speech which was useful because he listed by name all our major competitors. I'm sure everyone on that call was copying those names.
I had a huge focus on a course about container ships. If one container on the ship catches fire, EVERYONE who had a container on the boat equally shares the cost. Same if a ship has an issue and has to chuck containers overboard (that happens more than you think). So yeah, this could REALLY suck. That billion dollars is ONLY estimate of the Suez Canal authorities fine. Doesn’t include all the delayed ships suing for damages, etc.
I have a friend who does international shipping logistics for her job, she's been working around the clock since that. It is unprecedented what happened, so it will be interesting to see how the fallout goes. I hope your company doesn't end up on the hook for too much! It's not like you had any control over the ship.
No but we had control over purchasing insurance.
ewwwwwwwwwwwwwwwwwwwwwwwwwwwwThat was one of the things I checked on when shipping our stuff home. It's hard to believe any company that does international shipping would not get a policy to cover that type of situation - it was not hugely expensive, when I checked on our options.
We still have a glimmer of hope. There is literally one person who will know if we did have coverage or arranged insurance through our partner. He is back in the office Monday.... so we have a 9am meeting that he will find on Monday.
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