The shipping industry is such an important aspect of world trade. It makes the world a smaller by making goods and commodities more accessible. Shipping is the backbone of international trade. Loss and inefficiency of this industry can be detrimental to diplomatic relations. As an international industry, nations have come together to effectively operate it by setting regulations and standards. These are adopted, agreed, and implemented by every participating nation to guarantee safety, security, and efficiency.
This includes even the most basic household items that every person use every day. Most of which even come from different parts of the world. Here’s some of every person’s daily essential items which are shipped via cargo ships:
Salt is a mineral that every Filipino use in the kitchen. It’s also considered to be one of the body’s source for sodium and chloride ions. It is also essential for nerve and muscle function. One of the top salt exporting countries include the Netherlands, Germany, and Chile.
Whoever thought that cereal goes through a complex journey before reaching your bowls of milk? According to IMO’s Code for Safe Carriage of Grain in Bulk, all grains must be safely transported through carrier ships with maximum stability and minimum wastage.
If you’re wondering how electricity is transported, then here’s the answer for you. Ships play a major role in supplying the world’s power plants by transporting copper, coal, and the like.
A component use to manufacture oil is transported through cargo ships – oilseed. Oilseeds can be likened to soybeans and cotton seeds which are used to produce edible oil. It’s residues, however, can be used as animal feed.
Canada is the largest producer of potash – a raw material used as an ingredient to produce soap. Can you imagine a life without it? Every person use soap daily. If transport of potash to those who have lower production on it is constrained, how can they produce soap?
Wood chips are used to manufacture paper and books. Major producers of wood chips and wood pulp, Australia and Brazil, export to other countries like China and United States.
Iron and steel products
Iron and steel products are vital to every country’s economy. Construction of roads, bridges, building, and other government projects are bound to be halted should there be any shortage on these products.
These are just some of the items shipped from one country to another. Any problems with these shipping initiatives could result to shortage. Unexpected incidents as well, may affect projects of either private companies or public government.
This makes marine insurance all the more necessary. Goods like these involves money. Any seafaring company should assure safe transport of these important items and protect exporters from major financial loss by availing marine insurance. Malayan Insurance, leading non-life insurance company in the Philippines, with its Open Marine Cargo Policy can ensure just that.