Risk Management

Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters.

There are different types of risks that a firm might face and needs to overcome. Widely, risks can be classified into three types: Business Risk, Non-Business Risk, and Financial Risk.

Key risks areas associated with shipping industry

• Freight tracking
• Cargo capacity monitoring decides the cost
• Communication
• Contracts, documentation.
• Data and information management
• Technical, Geographic and Weather hazards
• Transportation issues
• Dispute in payments