MARINE CARGO INSURANCE

Whenever cargo is transported to any destination, a wide variety of risks are present throughout the transport chain for the owner of the cargo -shipper-, trader or receiver. These risks range from loss and damage resulting from an accident, an act of God, inappropriate handling, robbery along with many other possible events.

When goods are carried by ship, there are also other risks involved like the risk of Particular Average and General Average, which are often not well known or understood. Often cargo loss or damage cannot be attributed to the person who actually caused it in the transport chain and Insurance cover against political and social risks is also becoming more vital.

The liability of the various cargo service providers – such as freight forwarders and freight carriers – is, as a rule, very limited and may, in some cases be completely absent. The only way to be sure of a rapid and full compensation in case of loss or damage to the cargo, is to work with a partner who is extremely familiar with this environment and can tailor a marine policy to fit your individual needs.

SOPISCO works with first class marine cargo insurance companies and our presence in the field is integrated with the international commercial insurance networks which are specialized in perishable cargoes with particular emphasis on bananas and other fruit. This gives us the capability to carry out risk assessments on all aspects of your transportation needs.

We can offer insurance policies that are specifically focused on your needs when moving perishable cargoes such as fruits, vegetables, flowers, or frozen food. SOPISCO can help cover all modes of transport and combined transports. In addition to the general and special terms and conditions of marine cargo insurance, we can help insure you for a number of extra coverage possibilities. Examples include:

• Damage due to delay
• Possibility of inherent defect (decay)
• Waiver of recourse
• Internal transits
• Costs of removal of debris and destruction
• Costs for recovering transportation
• Costs to the port of origin in case of goods not accepted at a port of destination

Part of this package is the recourse – recovering the damage – against the carrier. Officially, this is the insurers job to whom your “Right of Recourse” transfers once the damage compensation has been paid out. In practice we take care of the recourse against the carrier. Keeping the number of claims compensated down and the amount low, prevents increases to premiums and can even lead to lower premium rates.

Drafting of an individual insurance solution with an optimal price/performance ratio using our represented companies market knowledge and purchasing power.

Developing international insurance programs while taking into account local circumstances and tax and regulatory requirements.

Worldwide access to our represented companies’ marine insurance know-how.

Pro-active and client-focused claims processing by professionals working with us having substantial authority to settle.

Using the information gained from claims processing to complete analyses and evaluations of claims data as a basis for risk management measures.

Educating clients on subjects such as marine insurance, marine risk management, international commercial terms, claims processing, etc.

We can help give you peace of mind no matter which kind of cargo you intend to insure and the origin or destination.

For more Information on how we can help you with your insurance needs contact SOPISCO at: sopisco@sopisco.com

MARKET INTELLIGENCE

For over twenty years SOPISCO NEWS has been synonymous with reliable, consistent information and market intelligence on the banana and reefer-shipping industry. Among our valued readers we have all the major operators in the fruit and reefer industry, including the major banana exporters and traders. Also, the FAO, the World Bank, the European Community, Wall Street Analysts, Growers and Exporters Associations, Banks, Insurance Companies, Embassies and Traders rely on the information we provide.

As a subscriber you will benefit from up-to-date access to what is happening in the transportation of refrigerated cargoes and cool logistics with emphasis on the banana trade. Be the first to find out about vessels loading at origin, -on demand, we may inform when they will transit through the Panama Canal- and when they will arrive at the selling markets. You will also get the latest information about freight rates paid for vessel’s fixed in the Reefer Market and banana selling prices in different regions.

SOPISCO NEWS is available in a weekly edition 52 times a year, accessible online on your laptop, notebook, tablet, smartphone, etc wherever you are in the world, or alternatively by e-mail. Our news letter provides regular monthly, quarterly, semiannual and annual reports about the banana trade and the refrigerated shipping market, keeping our subscribers up to date with important and independent data and information that is valuable for understanding both the past and present market and to assist in decision making.

Our Reports are also very helpful in knowing banana prices and freight rates at a particular date for claims involving damages, insurance, etc. Such reports are also available on demand for the topic that better suits your needs. We have a comprehensive database of international banana trade information and intelligence available that can be purchased also on demand. More information on all type of reports is available on the SOPISCO NEWS website.

Whatever the subject, you can rely on our accuracy and credibility supported by our experience as independent analysts within the industry for almost 25 years. You can also rely on our absolute discretion with your requests and requirements.

For more information on how to order or how to subscribe to the newsletter contact us at admin@novamedia.ws

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FRUIT PROCUREMENT

When it comes to the international trade in bananas, pineapples, citrus, apples, pears, kiwi, grapes, and other tropical fruits our customers can count on us to guide them in sourcing fruit in Latin America and other regions of the world.
Supply of tropical products, including bananas and pineapples is one of the cornerstones of SOPISCO FRESH PRODUCE. We partner with growers and exporters in Ecuador, Costa Rica, Guatemala, Colombia, Nicaragua, Honduras, The Philippines, Chile, Argentina, and Uruguay, among other countries.

We can introduce you to growers and exporters with the highest reputation for quality, level of experience, and delivery reliability to ensure that only the greatest tasting fruit reaches your market. We follow closely the intermediate stages in produce storage and logistics operations guaranteeing that all your fruit reaches its final destination in the best condition.

SOPISCO FRESH PRODUCE, As “Your Eyes and Ears in Central and Southern America”, keeps close tabs in market trends and make you aware of potential product scarcity or quality issues. We pay keen attention to the FOB asking prices to be certain that our customers only pay market prices. We work closely with shippers to ensure all parties are kept abreast if supply situations change. We source bananas in Ecuador, Costa Rica, Guatemala, Colombia, Honduras, Nicaragua and the Philippines. Apples, pears, cherries, prunes, plums, apricots, grapes, peaches, nectarines, citrus, kiwi, from Chile, Argentina, Uruguay and New Zealand. We also supply any kind of fruit and garlic from China.

SOPISCO FRESH PRODUCE also provides assist in your transportation needs through SOPISCO Brokers and Agents and arranges for the smooth handling of logistics for the shipment of your fruit.
We further assist, in cooperation with companies involved along the supply chain, in providing the following services:

• Survey
• Certifications
• Insurance
• Market intelligence

For further information, contact: fresh@sopisco.com

BROKERS AND AGENTS

SOPISCO PANAMA is a BIMCO member company based in the Panama Republic and handles a wide variety of vessels throughout all the country’s ports, offering these services:

SOPISCO PANAMA transits and booking arrangements

• Serving all ports throughout the country
• Close attention to solid and liquid cargo operations
• Coordinating ship repairs, freshwater supply and lubricating oil delivery
• Coordinating delivery of provisions and stores
• Coordinating garbage, slop and sludge disposal
• Arranging customs clearance, transportation and delivery onboard of ship´s spares and stores
• Arranging the necessary permits, visas, transportation, lodging for joining crew and coordinating respective repatriations
• Bunkering full assistance
• Drug and alcohol tests for international toxicology laboratories
• Ship to Ship (STS) coordination (Tankers and LPG vessels)
• Quick, accurate, detailed PDAs
• Prompt communication
• Efficient dispatch of cargo documents and D/As
• Local knowledge on line-ups/special requirements
• Understands your trade/cargo requirements
• Funds handled locally/Port Agency Representation
• Provides Security Personnel
• Clearance and Delivery of Ships Spares
• Attendance to Sick/Injured Crew
• General Ship Husbandry Services
• General Port agency
• All documentation services
• Supply of Stevedoring quotes/services at all ports
• Cargo Management

Charterers Nominated Agency (CNA)

SOPISCO PANAMA offers a full agency service, covering all cargo requirements and documentation, inward and outward clearance, ordering of pilot, tugs, stevedores and other services for and on behalf of the Charterer, with the disbursement account being sent to the appointing party.

Owners Nominated Agency (ONA)

Similar in nature to the Charterers Nominated Agency (CNA) service but provided for and on behalf of the ship owner. ONA includes full agency services like CNA.

Owners Protecting Agency (OPA)

A full supervisory service to protect the Ship owner’s interests in monitoring and reviewing the Charterers’ agency function and overseeing all the port activities.

Owners Husbandry Agency (OHA)

A comprehensive Owners’ Husbandry Agency service to ensure dry docking, repairs, spares and stores, crew matters, cash to Master and other Owners’ husbandry requirements are met.

If you would like to make an enquiry or require any further information, please contact: sopisco@sopisco.com