Ship looting may lead to major insurance losses

Millions of dollars in insurance claims are likely to be triggered after a barge owned by U.S. based Trailer Bridge Inc. saw most of its cargo looted after running aground Nov. 11 in the Bahamas, Khaborwala reported. Almost all of the 192 containers the vessel was carrying were looted at a value of $50,000 to $200,000 per container.