Container shipment can be accepted as one of the safest mode of transportation in international logistics along with air and rail shipments, but even containerized sea shipments are not free of accidents.
Every year around 750 containers lost at sea in minor incidents. When you include catastrophic events 2000-3000 containers lost in aggregate every year in international sea transportation.
If you add piracy, terrorism, war and strike risks, you will reach substantial risk amount not only for sea transportation, but also other modes of transport as well.
The only way to get rid of risks associated with transportation is to secure the shipment with an appropriate cargo insurance. Today I would like to explain the benefits of cargo insurance in international trade.
