Property damage and business interruption

23.8, tougher fines, slowdown

Russia: container shipment in the Novorossiysk Sea Commercial Port was significantly reduced after the introduction of tougher fines for excess weight for the carriage of cargo by truck out of the port. The fines for violating the weight requirements took effect a week and a half earlier. Carriers were fined for per-truck excess of over 15% of 18-ton cargo while those responsible for the carriage also faced the fines with corporate carrier being fined more than individual carriers. Container removal from two of the port’s container terminals went down by 70% as at least three ships, unable to unload their cargo because of full warehouses, remained stuck in the harbour.