Final answer:
A negotiable ocean bill of lading means that the cargo can be transferred to another ship. This enables the change of cargo ownership during transit and is crucial for international trade logistics.
Step-by-step explanation:
An ocean bill of lading is negotiable. This means that the cargo can be transferred to another ship. In terms of trade and logistics, a negotiable bill of lading allows for the transfer of goods ownership by endorsing the document to another party. It is an essential document in international trade that facilitates the buying, selling, and transfer of cargo while in transit. However, being negotiable does not exempt the cargo from customs inspection, nor does it mean that the cargo is insured by default. These are separate considerations that must be handled independently of the bill's negotiable status.