Magazine Table of Contents
Digital technology, cyber threats, and Internet of Things are all in the forefront of the changing marine cargo scene which now boasts its own blockchain platform too. We drill deeper into the period of upheavals with 2018 seen as bringing greater relief.
A year ago, the container shipping industry was in the doldrums with oversupply of capacity and lay-up of 7% of the global fleet in capacity terms. Predictions were that the market would only fully recover in 2018. One year on, we speak to some insurance players for their sentiments on the marine cargo market.
We speak with Mr Akshat Arora, Senior Surveyor at the Loss Prevention division of the Standard Club in Singapore, for a P&I club perspective.
A continual increase in the number of containers on board the new generation of large container vessels, coupled with a rise in the number of containers carrying very high-value goods, has resulted in a significant increase in high-risk exposure that is causing concern in the industry. Mr Michael Hauer of Munich Re discusses these new challenges and measures to mitigate the risks involved.