Insurance Claims on the Rise with Box Ships Forced to Brave Cape Weather

There has been a prolific rise in weather-related cargo loss and insurance claims since carriers have been forced to brave the extreme conditions round the Cape of Good Hope to escape Houthi attacks in the Red Sea.

Conventional wisdom has it that ships should avoid heavy storms where possible to minimize the risk of container loss, but the past 270 or so days of rerouting have seen vessels exposed to extreme weather off southern Africa.

In fact, between June 2 and September 6, there have been five incidents involving cargo loss or damage in the area, according to data from maritime claims consultant MK Webster.

Read more in an article from The Loadstar.