Posted on 03/27/2022 5:12:55 PM PDT by FarCenter
CHONGQING -- Aiming to soften the blow from the Ukraine war, Chinese operators are offering financial incentives to users of transcontinental freight trains connecting to Russia and Europe.
An operating company affiliated with Xi'an in March began covering war insurance payments for shippers transporting goods into and out of the Chinese city via the China-Europe Railway Express, or China Railway Express. This applies to all Russian and European destinations along the network.
War insurance is being taken out for freight going through Russia, Belarus and Poland -- all neighbors to Ukraine. The policies hedge against the increased risk of damage or detention from military operations.
Although war insurance is not mandatory, the idea is to encourage the use of the China-Europe express by mitigating costs and concerns among cargo owners.
Also this month, the China-Europe express operating company in Chengdu has started to cover war and other insurance for shipping clients. This applies to routes going through Russia, Belarus, Poland and elsewhere.
All post-departure costs that the client is not responsible for are covered. Costs are shouldered if a train is turned back because of sanctions.
An operating company under the city of Chongqing has begun considering war insurance payments as well. Xi'an, Chengdu and Chongqing handle more than half of the cargo on the China-Europe express.
(Excerpt) Read more at asia.nikkei.com ...
Map of Belt and Road routes:
https://commons.wikimedia.org/wiki/File:China_Belt_Road_Initiative_Landkarte_Projekte_2018.jpg
All the through routes go through Russia.
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