Comment by franze
My sister is a ship insolvency lawyer in Hamburg. Not only is each ship a company (legal person) but also quite often a single shipping transfer is its own company - owned partially by the ship and/or other entities. And when they exchange cargo at a far away port it can get complicated. Also nearly all global long distance shipping transfers have some kind of "Schwund"
IANASL (i am not a shipping lawyer)
Much corporate and insurance law has deep roots, if not origins in, shipping.
Turns out that these are high-cost, high-risk ventures with a highly probabalistic profit/loss distribution, and spanning multiple borders and jurisdictions.