Overseas Cargo InsuranceJust before 1 pm on Tuesday, January 14, 2014, while en route to service a windfarm, the work boat ECC Topaz caught fire in the North Sea, approximately 10 nautical miles East of the town of Lowestoft, Suffolk. The 3-man crew was forced to abandon ship via a life raft, and the work vessel presumably sank. The fuel and oil on board were believed to have burnt off during the blaze before the vessel went under.

Thanks to a skillfully coordinated rescue operation by the Humber Coastguard, along with a Dutch Coastguard aircraft and Lowestoft RNLI Lifeboat Spirit of Lowestoft standing by to assist if necessary, the crew members were successfully rescued and are not believed to have suffered any serious injuries. The men were winched to safety by a helicopter from RAF Wattisham and airlifted to James Paget University Hospital at Great Yarmouth as a precautionary measure.

According to Graham Dawson, Watch Manager at Humber Coastguard, “The fire was quite severe and the crew had no option but to abandon the vessel. The crew had the correct lifesaving equipment, and rescue resources were quickly on scene.”

Why Overseas Cargo Insurance is Critical

While it is fortunate that the vessel’s crew members were safely rescued, the vessel itself was lost entirely. And though this incident represents damage on a far lesser scale than that of international cargo shipping vessels, it still serves to highlight the absolute necessity for overseas cargo insurance when shipping goods across the ocean.

Here are two types of overseas cargo insurance that are highly recommended:

  • All Risk (including War Risk) via Air, Ocean and Truck

  • FPA (Total Loss/Catastrophic) Coverage

Without sufficient overseas cargo insurance coverage, one single mishap can have a severe negative impact to a company’s bottom line. It simply is not worth cutting corners by failing to implement this highly-important step in the overseas shipping process.

Overseas Cargo Insurance

ETC INternational Freight ShippingAt ETC International, or greatest concern is not only for the protection of our shipping customers’ merchandise, but also for the oceans over which that cargo is transported. We care about our clients, and we care about keeping our oceans clean – so we dedicate our utmost effort, time and expertise to ensuring that your overseas cargo safely reaches its intended destination.

But even with the most powerful equipment, state-of-the-art technology and utmost attention to detail and procedures, an uncontrollable act of nature or unforeseeable catastrophic event can still occur, and it is for this reason that we highly encourage anyone shipping containers across the ocean to obtain overseas cargo insurance. We make it simple to do so by providing all necessary information so our shipping customers may make the most informed decisions possible, and we assist in the process by enabling commercial and private parties to obtain cargo insurance through our company as part of our shipping services.

You can request a custom quote online for the All Risk (including War Risk) and FPA (Total Loss/Catastrophic) Coverage cargo insurance we make available by sending us a message with your questions and concerns. Click the button below to submit your message and we will promptly respond with detailed answers to your inquiry.

 

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