24/05/2024
Etienne Dacosta would like to tell you more a challenging case in Togo.
Amongst the thousands of claims the DPS Group handles every year, we came across a challenging case in Togo. We were entrusted with a case related to a lost/rejected container of SWAN TIMBER wood, originating from Togo and destined for the China market.
Our mission was to evaluate the physical condition of the wood and determine if it could be sold for salvage in order to mitigate the loss for our principals, the cargo insurers.
It is worth mentioning that the container had spent several months in transit at the port of Lomé, Togo, without being shipped to its intended destination in China.
This case presented several challenges, including the need to evaluate the condition of the wood after prolonged storage in the container, finding a buyer willing to purchase the cargo “as is, where is,” and negotiating a price that would mitigate the insurance company’s financial loss.
We quickly mobilized to assess the condition of the wood and devise a strategy for salvaging the container. Through our extensive salvage network, meticulous evaluation, and negotiation, we identified a potential Cameroonian buyer in August 2021 who agreed to buy the container at a very good price “where is, as is.”
By successfully selling the container at a reduced price, we effectively avoided a substantial financial loss for the insurance company, demonstrating our commitment to delivering tangible results for our clients. Additionally, we showcased our ability to find salvage buyers in another country, as the cargo was sold to a Cameroonian buyer who initially had no geographical connection to the shipment.
Through our dedication to excellence, professionalism, and proactive approach, we continue to set the standard for effective loss mitigation and damage survey operations in the insurance industry.
