Misdeclared cargo: tackling hidden risks through collaboration

Jorge Pecci, of the National Cargo Bureau, and Joakim Enström, of The Swedish Club, discuss the risks of misdeclared cargo and the importance of an insurer-industry collaboration to address the problem

Container shipping's pursuit of efficiency has delivered vessels far larger than many imagined even 20 years ago. With that scale has come concentration of risk. Modern container ships carry towering stacks, operate to tight schedules and depend entirely on the accuracy of cargo documentation. When declarations are wrong or incomplete, risk multiplies.