As I’m sure you’ve all seen, on the 26^th March, the cargo vessel Dali struck the Francis Scott Key Bridge in Baltimore, USA. The investigations into the incident are well under way and the legal wranglings will last for a long time to come.

It very publicly highlights again the vulnerability of global supply chains and the importance of the logistics industry. Over the last few years, we’ve seen the Evergreen running aground and closing the Red Sea canal, the escalating current issues in the Middle East and the Panama Canal running low on water, all causing significant logistical problems for many.

There are many lessons to be learned, two which immediately spring to mind are risk management and cargo insurance. Anyone involved in a supply chain should always have a plan B because, well, you just never know! Risk management is often an area of business which can be overlooked and yet the risks in some areas such as cyber security and the threat of terrorism have never been higher.

Cargo insurance I feel speaks for itself and yet 25 years’ experience in the logistics industry tells me that many see it as an unnecessary additional expense for an event that probably won’t happen. But when you’re faced with the unforeseen it’s worth every penny and premiums can in some cases literally be pennies. It’s something I urge you to look into. If you have a spare five minutes, check out a very good article on cargo insurance on our Espace TV YouTube channel

On the subject of increased costs and current news, our UK based customers will have seen the headlines of the introduction in April of the Common User Charge for SPS goods (generally products of plant or animal origin) arriving or transiting the Port of Dover or Eurotunnel which will account for checks at border control posts. These were highlighted in the Border Target Operating Model published last year and yet still came as a surprise for many.

There are still more changes to be introduced this year, some, which as international traders will affect you directly and some indirectly. We’ll be sure to bring them to you in good time and help you with any preparations needed. Talking of changes, we’re making our own at Espace House, keep your eyes peeled for an exciting announcement in the coming weeks.

Best wishes,

Geoff.