April Newsletter

ICAL’s Insurance Policy
In light of the current situation, we would like to remind you about the importance of insuring your cargo, ascertaining the cover is adequate for the risks involved and compliance of insurance conditions are met.

Shipping lines, Airlines and Carriers a like tend to limit their liability for the loss of, or damage to cargo through contractual arrangements; either as standard terms and conditions of trading, or by contracts of carriage.

The collapse of Hanjin shipping line in 2016 demonstrated that insurance policies don’t often cover the ‘bankruptcy of shipping lines’. If you already have an insurance policy in place, we recommend reviewing the policy to ensure you are adequately covered.
If you don’t have insurance, please get in contact with your ICAL representative to discuss further. 
ICAL offers a door to door insurance policy, which can be arranged on a shipment by shipment basis. As little as AU$120.00 can cover an insured value of up to AUD$25,000 (depending on the commodity, origin and destination).
ICAL’s insurance policy covers;

  • Damages caused by packing/unpacking the container/cargo
  • Any pillage or loss from collections from your overseas supplier right up to delivery in Australia
  • Concealed damage for up to 90 days after arrival
  • No excess on new cargo except machinery

Airline CTO Fee Annual Increase

Effective immediately, all three airline CTO’s have announced their annual rate increase to all terminal and document fees of just over 6%. Increases will be reflected on all import and export invoices as of April 20.