Cargo Insurance - Important update on Baltimore Bridge incident

What is the General Average?

General Average is a maritime law principle that applies when a sacrifice is made to save a vessel and its cargo from a common peril. In this case, the expenses incurred due to the collision (salvage, repairs, etc.) will be shared proportionally among all cargo owners with cargo onboard the Dali at the time of the incident.

How Does This Affect You?

If you have a shipment on the Dali with an all-risk policy, your insurance provider will typically cover your share of the General Average contribution. Please note, you may still be required to provide a security deposit to Woodland Global before your cargo is released. We recommend contacting your insurance provider immediately to understand the specifics of your coverage and any necessary procedures.

What Should You Do Now?

Contact your insurance provider: They will be able to advise you on your specific coverage and next steps regarding the General Average contribution.

Monitor updates: Woodland Global will continue to receive information from Grace Ocean and Maersk. We will provide further updates as they become available.

We understand that this situation can be frustrating. Woodland Global is committed to keeping you informed and working to expedite the release of your cargo.