ANGOLA – NEW RULING ON RELEASE OF CARGO WITHOUT BILLS OF LADING

Friday, July 24, 2015
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Carriers and shippers to Angola will be relieved to note that as of 10 July 2015, Angolan receivers are once more required to tender original bills of lading to take delivery of cargo. Earlier this year, Angolan banks had insufficient foreign currency to honour letters of credit, precipitated by the knock to the economy caused by low oil prices. Port congestion skyrocketed, as many Angolan receivers found themselves unable to pay for cargo.

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