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Consider the transportation of iron ore from mines in Australia to steel mills in China. A single vessel can carry hundreds of thousands of metric tons of ore, representing a cargo worth millions of dollars A single vessel can carry hundreds of thousands of metric tons of ore, representing a cargo worth millions of dollars A single vessel can carry hundreds of thousands of metric tons of ore, representing a cargo worth millions of dollars A single vessel can carry hundreds of thousands of metric tons of ore, representing a cargo worth millions of dollarsh stakes bulk. Should an accident occur, such as a shipwreck or piracy attack, the economic impact could be devastating. Insurers, shipowners, and charterers all have a vested interest in ensuring that such incidents do not happen.