Finance & Insurance / Real Estate Finance
Insurance cover for transport equipment and cargoes during transport
Goods transport is exposed to manifold risks. Depending on the type of cargoes being transported and the equipment used, the general and specific risks of the transport, and among others, adequate insurances are essential to insure against any damage. Insurance companies look after risk analyses, administration of policies and handling of insured damage claims. The insurance market offers a broad range of solutions – there’s barely any transport risk that cannot be insured. Marine liability and comprehensive marine are two types of insurance, others can cover transport, exhibition, clothing or baggage.
Tailormade financial solutions for logistics companies
Hamburg is Germany’s top ship financing centre. Finance experts in many Hamburg banks, issuing houses and law firms specialize in meeting the requirements of the port and logistics sector. They support companies in planning and financing of logistics real estate or ship financing. The range here extends from traditional financing of a single-ship company to participation as trustees in fleet funds. Such experts prepare the contract documents for fund projects, draw up sale or purchase contracts and register vessels and credits.
Assistance from lawyers in disputes
Even if smooth functioning of processes is the fundamental aim of those involved in freight transport and sea traffic – there’s no shortage of problems. Difficulties of this kind can rapidly become legal disputes. Hamburg is one of the centres where international trade flows are concentrated. So several lawyers specializing in international trade and maritime trade law have opened offices here. They advise companies in the maritime sector on legal questions involving marine and maritime trade law, and especially charter and ship management agreements, bills of lading, shipwrecks and accidents at sea, insurance and re-insurance, shipbuilding, international trade law, transport and logistics. They also handle court hearings. The International Tribunal for the Law of the Sea is also located in Hamburg.