- Pay $50 for unlimited insurance to repair the damage in Bangladesh
- Buy insurance worth $14 for $150 in the event of damage in Singapore
Container protection solutions from Maersk
According to Mr. Kazi Mahmud Imam Bilu, General Secretary of the Chittagong Customs Agents Association, in consultation with the association, Maersk introduced a product called Container Protect to simplify the settlement of disputes over damage fees. Fees vary from country to country. For example, in Bangladesh, for just $10 for this service, an importer can get insurance for up to $100 in damage repair costs. And when the importer pays $50, there will be unlimited insurance to repair the damage.
There are 2 options when using this service: charge it to the cost of the shipment or optionally add it. Specifically, in India, by default, the cost of “container protection” will be added to every shipment, so that the goods can be compensated for up to 30,000 Rupees (equivalent to $385). This will be included in the consignment order to provide coverage of up to 200 Euros in Italy. Meanwhile, in Singapore, buying insurance worth S$20 (equivalent to $14) will bring compensation up to $150 in the event of damage. However, in Bangladesh, the use of this service is optional.
Maersk says importers won’t need to wait for a repair bill if accrued costs are covered. At the same time, the business also adds: “If the actual damage charge of a certain container exceeds the insurance limit, you will be billed for the remaining amount.”
Dispute over container repair
Mr. Bilu pointed out that once a container had been damaged, both the importer and container owner needed to wait for various survey reports unless the situation was agreed amicably. So he said: “We find this “container protection” solution of Maersk convenient and handle the situation much faster.”
Not only a representative of the Customs Agents Association, but a shipper in Dhaka also praised: “Every day we have fights with C&F agents about repair charges. So, Maersk stepped ahead and fixed it to avoid any disputes.”
A Maersk spokesperson also said: “Generally there is very positive feedback from customers. They are appreciating and buying more of this product.”
It is known that the company has already introduced this solution in 27 countries, including India, Singapore, China, Thailand, and in various European countries including Italy, Poland, and Portugal.