8 Variations of Cargo That the Shipping Industry May Transport

What kind of cargo does the shipping industry transport, and what is the process for getting it across the continents? The shipping industry is the foundation of the world’s economy. This process incurs countless liabilities that export insurance and marine cargo/stock throughput coverage offer protection against.

The Cargo That The Shipping Industry Will Transport

Learn more about these risks and the eight different types of cargo that you may find on a cargo ship.

Why Marine Cargo/Stock Throughput Coverage Is Important

Throughput coverage is a unique type of insurance that protects companies in the cargo industry. It covers the value of a ship’s inventory, raw materials, and semi-finished products. In addition to this type of insurance, shipping companies should obtain an export insurance policy.

Food

Food is one of the most common types of cargo that gets transported via sea. It includes fresh food as well as frozen and packaged food goods, too. Food poses a challenge because of its vulnerability to spoilage.

Livestock and Animals

Animals and livestock are also commonly transported across international waters. It is common in the meat and animal breeding industries and industries that rely on animal byproducts.

Gas-Based Fuels

Statistics show 61% of the world’s crude oil production is transported via sea yearly. Indeed, marine cargo/stock throughput coverage includes oil products such as petroleum, LNG, and CNG. Liabilities for this cargo can be high because it is flammable.

Vehicles

Many auto manufacturers ship vehicles with cargo ships. The ship becomes a ferry and transfers the vehicles from one port to another. They used a specific type of ship called a RORO ship, which is short for roll-on and/or roll-off.

Machinery

Machinery shipments are some of the most lucrative cargo a ship can carry across the sea. It is especially true if the ship can carry many machinery parts in one trip. Shipping companies must be careful to protect these parts from rust.

Dry Bulk

Shippers can often package loosely or even store dry goods on a cargo ship without packaging. Marine cargo/stock throughput coverage is essential to protect the value of these goods — especially if the goods in question are precious metals or valuable minerals.

Liquid Bulk

Cargo ships may also carry liquid bulk products. It includes fruit juices, cooking oils, rubber, and other non-oil liquids. Any liquid that may spoil, such as juices, is best kept in a refrigerated portion of the ship. Many cargo ships can support refrigerated shipping containers.

Chemicals

Finally, chemicals are another common cargo found aboard a cargo ship. It may include hazardous and toxic chemicals that another company will eventually discard. Transporting chemicals is tricky because the risk of dangerous corrosion and leakage is high.

Invest in Marine Cargo/Stock Throughput Coverage

Shipping businesses must protect their investments and minimize the risk of liabilities. Regardless of the cargo, your ships may handle, marine cargo/stock throughput coverage is the best option.

About David G. Sayles Insurance Services

At David G. Sayles Insurance Services, we help our clients decide which of these options is best for them based on their current situation and risk factors.  Contact us at 1-855-977-1842 or insureme@dsayles.mysites.io for a consultation!