The Chief Executive Officer of the Ghana Shippers’ Authority, Ransford Gyampo, has raised alarm over increasing risks in global cargo transportation, revealing that between 1,500 and 2,000 shipping containers are lost at sea each year.
Speaking at a sensitisation seminar on mandatory local insurance for imports on Wednesday, April 8, Prof. Gyampo urged importers to prioritise cargo insurance to protect their goods against potential losses during transit.
He noted that global trade depends heavily on maritime transport, with about 80 to 90 percent of goods by volume transported by sea—largely through container shipping—making the sector particularly exposed to disruptions.
“When broader risks such as piracy, terrorism, conflict, and industrial actions are considered, it becomes evident that substantial risks exist not only in maritime transport but across all modes of cargo movement,” he said.
Prof. Gyampo explained that these threats extend beyond sea transport and affect all forms of cargo movement, underscoring the importance of strong risk management strategies within the import and export sector.
He emphasised that cargo insurance remains the most reliable way to reduce financial losses linked to these risks and called on stakeholders to comply with policies aimed at boosting local insurance participation in international trade.
