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Assessment for Shipping Business & International Trade

Decent Essays

Assessment 3

Buyer: The Theatre of Wine, in Greenwich, London, United Kingdom
Shipowners/Shippers: Carry Carefully, South Africa
The copy of B/L is attached.

A.
1. for the carriage of a consignment of wine from South Africa (which has incorporated the Hague-Visby Rules, under its own Carriage of Goods by Sea Act 1986) to London (the UK).
2. The wine was shipped and the master issued a clean straight bill for the goods, which contained a "no liability for loss or damage caused by negligent preparation of the vessel" clause.
3. The straight bill had to be presented for collection of the goods.
4. When the wine was discharged, The Theatre of Wine discovered that it had become contaminated by the ingress of rain and …show more content…

Marine insurance covers, among other things, the transportation of cargo on land, sea or air. Claims for loss and damage to cargo under a marine insurance policy, when paid, give rise to subrogation, by which the insurer gets an opportunity to try to collect back from the party(ies) responsible for the loss or damage. Through subrogation, the insurer gets to "stand in the shoes" of the insured, who is most often the owner of the cargo.
When the cargo owner (usually the insured) entrusts the goods to someone for storage or transportation, a bailment is created. If the goods move from or to the United States, internationally by ocean, that bailment relationship is controlled by the Carriage of Goods by Sea Act (COGSA), a statute of the United States. International shipments, not touching a U.S. port, may be controlled by other treaties, such as Hague-Visby or Hamburg Rules.
"BILL OF LADING": This is a key document for cargo claims. A bill of lading generally serves three purposes:
(1) document of title;
(2) a contract of carriage and
(3) a receipt for goods.
Ocean bills can be negotiable instruments and control possession of the goods.

According to South Africa shipping & maritime legislation there is no marine insurance act . Where appropriate the British Marine Insurance Act is used as a "persuasive" reference. However the Institute Cargo Clauses issued under the auspices of the Institute of London Underwriters

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