Not a bike, but steel coils. I work in the steel industry and we used to get steel coils in from overseas all the time. They were always wrapped in "cans", paper and generally heavy grease. Some coils would be perfect, others trashed. All depends where the package was placed on the ship. If on top and ran through some rough weather, water in a container would do this. If it was in the bottom of the ship and again took on some water - ruined product. Sucks but like several said, should have been oiled, greased, wrapped in waterproof paper or plastic and then put in a water tight container.
