Marine Cargo Insurance
Insurance coverage that protects goods transported via ocean or inland waterways against loss or damage.
Definition
Insurance coverage that protects goods transported via ocean or inland waterways against loss or damage. Marine cargo insurance typically covers risks such as sinking fire theft and weather-related incidents. Shippers often secure marine insurance to mitigate financial risks in global trade
Related Terms
Marine Surveyor
A professional inspector who evaluates ships cargo and port facilities to ensure they meet safety and regulatory standards.
Master Air Waybill (MAWB)
A document issued by the airline that functions as a contract of carriage for air shipments.
Measurement Ton
A unit of volume used to calculate shipping rates for light yet bulky cargo.
Merchant Haulage
A freight service where the shipper arranges and pays for inland transportation independently rather than using the carrier's inland services.
MPS (Merchandise Processing Fee)
A fee charged by U.S. Customs for processing imported goods.
Multimodal Transport
A logistics strategy that involves multiple modes of transportation (e.g. sea air road or rail) under a single contract.
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