by Roger Howell
Page 49
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Container transport insurance
NEWS from OCL and ACT is that they have withdrawn their plans for a combined bill of lading and certificate of insurance covering traffic on their Australian service. This step has been taken after a thorough investigation dur ing which consultative meetings were held with the British Shippers' Council, the Institute of Shipping and Forwarding Agents and various trade associations.
Hard facts regarding proposed rates and conditions were included in questionnaires sent out simultaneously to consignors in both the UK and Australia. However, response was generally disappointing. More to the point, although opposition was only voiced by 141 companies, many of these were large firms with a high traffic throughput.
OCL and ACT have detailed what they consider the major constructive criticisms. Many larger companies stated that the insurance rates were uncompetitive with present levels on world-wide/general cover arrangements.
There was further objection to the mandatory nature of the scheme, and also to possible subsidizing of high cargo risks.
For the time being a "through bill of lading" of the type currently in use in the North Atlantic trade will be used. However, OCL and ACT will
continue to evaluate "through liabilityschemes including one identical in all respects
to the original, excepting that it is optional in that individual firms will be able to opt out totally.