International markets expand through better communication and transport technology. Transport networks are at the heart of the supply chain and are the foundation of any countrys economy. Transport is a foundation of the European integration procedure. The present framework of international carriage law is made up of a collection of conventions. The legal document establishing the contractual link between the parties involved in the contract of carriage is the bill of lading. Ocean bills of lading have an inherent value as security to banks that finance the sale of the underlying cargo or the documents themselves, and they enable their lawful holders to sell the cargo whilst in transit by transfer of the document. Containerisation brought about a revolution in the transport industry. All transport conventions set diverse liability limits and mirror dissimilar communities of interest among different transport modes. A carriers liability limitation in international carriage conventions is a consequence of international trade practice. The transport systems have become a source of environmental and social costs. The author discusses these issues and more in this important book on international markets and transportation.
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