Dry cargo shortage insurance claims in Cai Mep and Phu My ports have nearly tripled between 2020 and 2024, according to Gard P&I Club and reported by Safety4Sea. Affected cargoes include soybean meal, corn, and fertilisers, with claims are generally low value but high frequency, raising cumulative risk
Key issues identified
- Multiple bills of lading issued for bulk cargoes often lead to more individual claims, as receivers assess shortages against their own portions rather than total cargo.
- Barge discharge and warehouse transfer procedures create gaps in accountability, with limited ability to conduct accurate draft surveys and track distribution by the receiver.
See also: Vietnam Seaports