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Archives for June 2013

TT Club Championing Cargo Safety at Rotterdam Conference

June 19, 2013 by

Specialist liability insurer for the international transport and logistics industry, TT Club is keen to focus industry attention on the risks associated with the incorrect packing and securing of cargo in containers and the debate over the accurate weighing of containers. 

London 19th June, 2013

The TOC Container Supply Chain Conference in Rotterdam, which takes place next week (25th – 27th June www.tocevents-europe.com) will be a major forum for critical players in the industry to discuss and hopefully reach a consensus on two major issues that are central to operator safety and cargo loss and damage in the handling of containers and their cargo.  To this end TT Club will be hosting two Round Table discussions on the first day of the Conference

  • ·         Container packing: How can safety and security be improved?
  • Container weighing: who bears responsibility for weight accuracy?

It is no surprise that the correct packing of containers is high on the agenda for industry bodies, regulators and insurers, as the consequences of unsafe and badly secured cargo are very serious. In fact, of all claims made by TT Club’s Members (policy holders), some 65% feature cargo loss or damage, and of these, over one-third result from poor packing.  Yet international research has demonstrated that there is little awareness of the international guidelines for packing cargo.  As various UN Organizations seek to tackle this, the TT Club is determined to focus the industry’s attention.  This Round Table is one such effort.

TT Club’s Risk Management Director, Peregrine Storrs-Fox, who will lead the debate emphasises the practical scenarios, “How often do those involved in packing cargo transport units (CTUs) – in the main trailers and containers – struggle to get a heavy item in and then believe that the cargo will never shift? How often are packages covering the majority of the floor of CTU not secured in the belief that, since there are few gaps, they will not move ‘much’? There are many examples of such inadequate awareness of the dynamic forces involved in international and intermodal transport”, he points out.  “This inadequate awareness occurs far too frequently, many times associated with fatal consequences.  It does not matter whether the cargo is classified as a ‘dangerous good’ or not; any cargo that is not properly packed and secured in the transport unit is a potential killer.”

In relation to container weighing, there is general consensus that the inaccuracy of weight declaration in the unit load industry compromises safety and efficiency. There is rather less agreement on how to implement changes that are appropriate and proportionate. TT Club will be hosting a second Round Table at the Rotterdam Conference to allow the debate to continue.

That the true weight of a high percentage of the 130 million TEU shipped around the world last year was not accurately known is in little doubt. What remains a matter of debate is the extent of these inaccuracies, the consequences regarding safety and dangerous incidents, and how regulations can be imposed to redress the situation.

“The Club is eager to engage all industry participants’ knowledge and appreciation of both these important and inter-related issues.  Promoting good practice and initiatives to enhance safety is beneficial to the industry, not just in reducing injuries or damage but also in improving efficiency and supply chain sustainability”, concludes Storrs-Fox.

ENDS

About TT Club:

The TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services.  As a mutual insurer, the TT Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.

Customers include some of the world’s largest shipping lines, busiest ports, biggest freight forwarders and cargo handling terminals, to companies operating a handful of vehicles.  TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Operators, Marine Terminals, Stevedores, Port Authorities and Ship Operators.

www.ttclub.com

 

Filed Under: TT Club

Evergreen Launches East Black Sea Service (EBS)

June 18, 2013 by

June – 18 – Evergreen Line is pleased to announce the launch of its new East Black Sea (EBS) service, aimed at improving the line’s service coverage in the region, particularly to/from the port of Poti (Georgia).

Evergreen will operate this new weekly service jointly with United Feeder Services (UFS).  The partners will operate two vessels, the 971teu BFP MELODY and the 1,155 teu MURAT K respectively.

The first sailing of the BFP MELODY is planned from Piraeus week commencing 17 June; the service’s port rotation subsequently being Istanbul, Poti, Novorossiysk and Piraeus.

Poti is a significant addition to Evergreen’s global port network serving as it does the country of Georgia and the surrounding territories. Located between the Black Sea and the Caspian Sea, Georgia provides a natural corridor to the markets of neighbouring countries’ thanks to its improved road and rail connections.

According to the IMF’s World Economic Outlook report published in March, Georgia is forecast to attain economic growth rates of 6% in 2013 thus encouraging Evergreen’s strategy of network expansion to/from this part of the Black Sea region.

In addition, the EBS service will offer a second weekly Evergreen call at Novorossiysk; the other already provided by the line’s BSF service, which also links the Russian port with Istanbul and Piraeus.

Filed Under: Evergreen Line

ModusLink Helps Cricut® Meet Global Demand and Enables European Expansion

June 17, 2013 by

—Cricut’s strategic growth plan focuses heavily on e-commerce and strong execution of logistics —

WALTHAM, Mass. and SOUTH JORDAN, Utah—June 17, 2013—ModusLinkGlobal Solutions™ Inc. (NASDAQ: MLNK) and Cricut® have announced a significant operational expansion, making Cricut’s highly innovative craft, hobby and educational products more readily available in Europe. ModusLink will help Cricut manage numerous supply chain and logistics functions including regional warehousing, distribution and order fulfillment. ModusLink will also support e-commerce, payment and local tax processing and order support in more than 35 countries.

“Cricut is seeing strong growth and high consumer demand for our crafting supplies across Europe, especially among the young and technology-savvy demographic,” said Simon Faulkner, executive vice president and general manager for EMEA at Cricut. “These customers want quick and easy access to our products through online channels and expect the quick shipping options that are available to them with other goods such as clothing and electronics. ModusLink has the logistics operations in place and the regional expertise that is helping us quickly expand our business and increase brand loyalty in this key market.”

In addition to driving an exceptional purchasing experience for Cricut’s customers, ModusLink’s current product distribution infrastructure in Europe is expected to save Cricut considerable freight costs and help reduce the associated carbon footprint of long-distance shipping.

“ModusLink is eager to play a role in Cricut’s current growth by providing global supply chain and e-commerce support that helps build the business in a highly efficient and cost-effective way,” said Scott Crawley, president of global operations, sales and marketing at ModusLink. “Taking the right approach to growing a company’s presence in new regions often requires a knowledgeable local operations partner and our goal is to help clients expand in a carefully planned manner that yields revenue and satisfied customers, without disrupting or overhauling their existing business.”

In addition to the collaboration in Europe, Cricut has also recently extended its engagement with ModusLink for U.S.-based logistics services.

Additional Resources

About Provo Craft/Cricut

Provo Craft is a creative crafting products company and world leader in personal electronic cutting machines that enables people to achieve their creative best. For 40 years, Provo Craft has sold millions of products worldwide that bring crafting tools to the masses, including the Cricut® personal electronic cutter, the Cricut Craft Room® design software, and the Cricut Cuttlebug™ die cutter and embosser. The Cricut launched in 2005 and revolutionized the paper crafts industry. Today, millions of people use Cricut products to create projects that range from greeting cards, scrapbooks, home décor, school projects – anything that allows people to capture their memories and share these with their loved ones. For further information, visit www.cricut.com.

About ModusLink Global Solutions

ModusLink Global Solutions Inc. (NASDAQ: MLNK) executes comprehensive supply chain and logistics services that improve clients’ revenue, cost, sustainability and customer experience objectives. ModusLink is a trusted and integrated provider to the world’s leading companies in consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company’s operating infrastructure annually supports more than $80 billion of its clients’ revenue and manages approximately 451 million product shipments through more than 25 sites across North America, Europe, and the Asia/Pacific region. For details on ModusLink’s flexible and scalable solutions visit www.moduslink.com and www.valueunchained.com, the blog for supply chain professionals.

###

 

This release contains forward-looking statements, which address a variety of subjects including, for example, the expected benefits of the business relationship between ModusLink Global Solutions and Provo Craft. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: We are not designated as this client’s sole supplier of the services referenced in this press release; We frequently sell to our clients on a purchase order basis and without contractual minimums and therefore our sales are subject to demand variability; Our success depends on our ability to execute on our business strategy and the continued and increased demand for and market acceptance of our solutions and services; We may not be able to expand our operations in accordance with our business strategy; We may experience difficulties integrating technologies, operations and personnel in accordance with our business strategy; We derive a significant portion of our revenue from a small number of customers and the loss of any of those customers would significantly damage our financial condition and results of operations; Increased competition and technological changes in the markets in which we compete; and risks associated with international operations. For a detailed discussion of cautionary statements that may affect ModusLink Global Solutions’ future results of operations and financial results, please refer to our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and  Quarterly Report on Form 10-Q. Forward-looking statements represent management’s current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.

CRICUT is a trademark of Provo Craft & Novelty, Inc., South Jordan, Utah.

ModusLink Global Solutions is a trademark of ModusLink Global Solutions Inc. All other company names and products are trademarks or registered trademarks of their respective companies.

 

ModusLink Contacts:

Media:  Teresa Osborne

ModusLink Public Relations

781-663-5153

teresa_osborne@moduslink.com

 

ISIS Communications for ModusLink

info@isiscomms.com

 

Filed Under: Modus Link

Geodis Wilson wins award for Project Cargo Forwarding

June 17, 2013 by

Hong Kong, June 17th, 2013 

Geodis Wilson, one of the world’s leading freight management companies, has been awarded the Best Logistics Service Provider – Project Cargo, at the 27th Asian Freight & Supply Chain Awards (AFSCA).  SK Yeung, Managing Director Geodis Wilson Greater China, and Bill Guo, Sales Director for Hong Kong & China, received the Award during the ceremony in Beijing.

“We are thrilled that Geodis Wilson has been recognized by the industry, and we much appreciated the support our customers and industry colleagues gave by voting for us” commented SK Yeung, Managing Director, Central Eastern Northern China. “This is a huge honour for Geodis and we extend our congratulations to all colleagues and staff worldwide in winning this prestigious award.”

The key criteria for award entrants for this particular category were to provide bespoke solutions for cargoes outside the normal product range; effective and easy to us IT systems, including tracking of cargo, backed by efficient and professional customer services systems; and the ability to “think outside the box”.

Geodis Wilson design in advance all project operations and have a dedicated team on-site to ensure that each project runs smoothly.  One such project operation took place earlier this year when 3 sets of blades needed to be delivered from inner Mongolia to Hebei province. At the point when the cargo was ready, heavy snow hampered access to the wind farm park. Geodis proposed some minor civil engineering works and obtained a more appropriate trailer, therefore avoiding costly repairs to the road and delaying the operation further.

Geodis Wilson beat an impressive line-up of awards entrants and received the majority of the votes from customers and industry related experts.

ENDS

About Geodis Wilson and the Geodis Group

Geodis Wilson is a leading global freight management company. With 7.700 employees in more than 50 countries the company delivers tailor-made, integrated logistics solutions to customers enabling them to operate as ‘best in class.’ Geodis Wilson is the freight-forwarding arm of Geodis Group which became part of the French rail and freight group SNCF in 2008. With its 47.600 employees in 60 countries ‘SNCF GEODIS’ ranks among the top 7 companies in its field in the world.

For more information about Geodis Wilson go to – www.geodiswilson.com

Filed Under: GEODIS

Shipowners’ Club 2013 Results Show Growth and Long-term Stability

June 17, 2013 by

The Shipowners’ Club, the specialist P&I mutual serving the smaller and specialist vessel sectors around the world, has achieved a very good result for the year ended 20th February 2013, in spite of still difficult economic conditions and an increasingly competitive market. 

London, Luxembourg, Singapore & Vancouver, 14th June 2013

The Club saw the number of vessels entered grow by some 4.6% in the year to nearly 33,000, their total tonnage rising by 10.8% to 21.9 million GT. This led to a 5.8% increase in gross premiums of USD 221.9 million. The Club’s Annual Report emphasised that the increase in premium had been achieved through organic growth without the need for substantial general increases.

As other clubs have also reported, Shipowners saw claims frequency and the average cost of claims per ton increasing, particularly with higher value claims.  However, there was an improvement in claims reserves from previous years and the overall underwriting surplus reached USD 8.9 million representing a combined ratio of 95.5%. The Club’s investment portfolio performed very strongly with a 7.8% absolute return helping to achieve an overall surplus of USD 40.9 million, increasing capital and free reserves to USD 275.3 million, over 17% up on the previous year.

In his review of the annual results Chairman Donald MacLeod emphasised that the Club continued to grow in a measured and sustainable manner. “What is particularly gratifying is the fact that these positive results have been consistently produced over multiple years,” he said.  “Over the past five years prudent underwriting and management practices in a highly volatile and competitive market place have resulted in an average combined ratio of 88.9%.”

The Club’s Chief Executive, Charles Hume was satisfied with another year’s surplus on the underwriting account which he said, “is consistent with the Board’s policy of maintaining a target combined ratio below the break even 100%.”  Hume also commented, “We firmly believe that the financial strength of the Club is of paramount importance to the Members. It is absolutely essential that the Club is very well funded to ensure its security and stability for the benefit of the membership long into the future.”

In addition, Hume concludes, “It is only by constantly anticipating, and regularly exceeding, our Members’ and brokers’ expectations that we will maintain the reputation of the Club for excellent service. That is our most important objective.”

Financial Highlights as at 20th February 2013 (vs 2012)

  • Net result:  Overall surplus of USD 40.9 million (USD 46.5 million)
  • Gross premiums earned: USD 221.9 million (USD 209.7 million)
  • Claims incurred, net of reinsurance:  USD 146.8 million (USD 118.2 million)
  • Combined ratio:  95.5% (85.0%)
  • Operating expenses: USD 44.3 million (USD 43.0 million)
  • Investment return net of tax:  USD 31.9 million gain (USD 18.0 million  gain)
  • Capital and free reserves: USD 275.7 million (USD 234.8 million)

A pdf of the full Annual Report 2013 is available for download at www.shipownersclub.com

ENDS

Notes for Editors:

The Shipowners’ Club is a mutual marine liability insurer, providing Protection & Indemnity insurance to smaller and specialist vessels since 1855. The Club currently insures nearly 33,000 vessels from over 6,000 Members worldwide and is a member of the International Group of P&I Clubs.

The Club has offices located in London, Luxembourg, Singapore and Vancouver.

Filed Under: The Shipowners' Protection Ltd

Following the Path of the Transport Revolution

June 6, 2013 by

TT Club, established to fill a gap in insurance as the freight container revolutionised trade, celebrates 45 years dedicated service to the transport and logistics sector.

In 1956, the first strengthened containers were loaded onto a spar deck of the converted tanker, Ideal X. This marked the fulfilment of a dream for American trucker Malcom McLean who had, since 1937, been working on how to reduce the long waiting hours for dockers to stow or unload his vehicles onto or off ships. The container age was quietly born.

It was McLean’s significant involvement that set the wheels in motion to put containerisation into practice, but it was not until 1968 that the first purpose-built cellular container ship took to the high seas. In the same year, the Through Transit Club, shortened to the TT Club, was formed with the principle purpose of providing shipowners with insurance protection for damage to the containers on both land and sea.

The onset of containerisation revolutionised international freight transport forever. Trucks were no longer unpacked at the docks, their contents stored in warehouses and loaded onto ships – the cargo could now be seamlessly moved from warehouse to warehouse in sealed steel containers that only needed to be opened once they had reached their final destination.

This however changed shipowner’s insurance requirements. Whereas before they only needed insurance cover ‘port to port,’ they began to assume responsibility for the transportation of the container, and the cargo inside, from ‘door to door’.

The TT Club’s formation was complicated, deftly squeezing between insurance giants, the P&I (Protection and Indemnity) Clubs and Lloyd’s of London.

The P&I Clubs made a policy decision at the time that they were going to remain water borne insurers and therefore they were not prepared to cover the containers ashore, either for the risks of cargo liability or third party damage. Additionally, they also avoided insuring the ‘hulls’ of containers as this would have been viewed as an intrusion into the hull market and a breach of the informal agreement between the hull market in Lloyd’s and the P&I market, whereby Lloyd’s did not become involved in liability insurance and the P&I Clubs stayed away from hull insurance.

Faced with more or less a closed door from the P&I Clubs, shipowners who were going into containerisation on the Atlantic trade were faced with either obtaining insurance from the commercial market or creating a mutual alternative. So the TT Club was established as a mutual non-profit insurer, similar to the P&I Clubs, using all premiums and investment income for paying claims, administration costs and building up reserves with the Board of Directors drawn from the Club’s membership. There were originally three joint managers all drawn from the P&I sector, although Thomas Miller assumed sole responsibility and remains the management company today.

The TT Club has maintained its tradition of responding to industry developments and customer’s requirements. In 1969 the TT Club expanded its initial insurance offering and introduced cover for container terminals and in 1988 launched its Port Authority cover to cover the landlord and non-operational risks.

In 1996 the TT Club created ClaimsTracTM, enabling the progress of individual claims to be monitored online and in 2005 in response to the lengthening global supply chain and changing role of freight forwarders the Club launched its Logistics Operator cover.

Geographically the TT Club, managed by Thomas Miller, has also reacted to market demands, opening an office in Sydney in 1976, followed by New York and Hong Kong the following year. 1995 saw offices in Genoa and Antwerp opened and, when the Asian market began to grow, the Singapore office was set up in 1997 with Shanghai, Beijing and Taiwan the next year.

The Club continues to listen to its Members to identify how its product should be developed. This approach that has served the Club so well resulted in the launch of the Cargo Product in 2010. This product enables freight forwarders to offer instant cover for their customer’s cargo.

As the Club celebrates its own trading milestone on 6 June, it seems appropriate that it has recently formalised a new brand positioning of “established expertise” demonstrating its 45 years unrelenting commitment to the industry delivered through superior underwriting, claims management and loss prevention services.

The TT Club is now the leading provider of insurance and related risk management services for the international transport and logistics industry specialising in the insurance of liabilities, property and equipment for intermodal operators. It is estimated that the Club insures over 80% of all maritime containers, nearly 45% of the top 100 container liners and has an insurable interest in nearly half of the top 100 ports in the world.

Charles Fenton, Chief Executive of the TT Club

Charles Fenton,Chief Executive, comments on the current position of the Club:

 “Serving the international transport and logistics industry for 45 years, helping our Members and insurance brokers overcome whatever challenging trading conditions they face, and putting service value at the forefront of our culture, has given us the right to say with pride that we do have established expertise.”

Its history, and response to change, has shown why TT Club now insures shipping lines, port authorities, cargo handling terminals, freight forwarders and logistics companies across the world and offers them not just cover, but superior claims handling together with expert risk management and loss prevention assistance.

Today the TT Club has over 800 members, 20 offices worldwide and over 100 highly specialised and knowledgeable employees working at what they do best – providing bespoke insurance solutions for international transport and logistics operators.

Back in 1956, McLean was far from thinking about the gap in insurance he had inadvertently created as he watched his containers being lifted onto Ideal X. However, surely he would have approved of the way the TT Club has risen to the challenge, navigating its own way to hold such a special insurance role and become a powerful and financially secure brand for its customers.

 

Filed Under: TT Club

”K” Line Receives Port of Long Beach Green Flag Award for 8 Consecutive Years

June 6, 2013 by

The Long Beach Board Port Authority announced top ocean carriers in compliance with its voluntary ship speed reduction program in designated coastal zone for the purpose of reducing exhaust gas from their vessels as “Green Flag” commendation ocean carriers in 2012.

On 30 May 2013, Kawasaki Kisen Kaisha, Ltd. (“K” Line) received the prestigious Green Flag award from the Port Authority based on its total of 248 annual port callings meeting 99.2% compliance rate within 20 nautical miles from the port and 98% compliance rate within 40 nautical miles during 2012. Reducing fuel-oil consumption rate helps decrease CO2 emissions.

The Port Authority is asking calling vessels to comply with the speed limit of 12 knots within 20 miles (about 37 kilometers) from the port in order to reduce emissions of exhaust gas, with the same speed limit within 40 miles (about 74 kilometers) from the port. The Green Flag is awarded to shipping lines that have achieved high rates of compliance with this program and had a large number of ships call at the port. “K” Line actively participates in this program, achieving an extremely high rate every year. In this year, we were awarded the “Green Flag” from the port authority for eighth consecutive year.

The “K” Line Group is making every possible effort to successfully implement its own environmental program, as well as cooperate with any other environmental preservation objectives being introduced by other parties, and will continue to actively contribute to protection of the global environment.

Filed Under: "K" Line

“K” Line Enters Long-Term Time Charter with Construction of 2 LNG Carriers

June 5, 2013 by

Kawasaki Kisen Kaisha, Ltd. (“K” Line) is pleased to announce the signing of two long-term Time Charter contracts which have been concluded with a subsidiary of INPEX CORPORATION (INPEX) and with a joint venture of INPEX and French Oil Major TOTAL S.A. (TOTAL)’s subsidiaries. “K” Line has also executed Shipbuilding contracts with Mitsubishi Heavy Industries, Ltd. (MHI) and Kawasaki Heavy Industries, Ltd. (KHI), respectively.

INPEX, TOTAL and other companies operate the Ichthys LNG Project (Ichthys Project) in Western Australia which is on track to produce its first gas by the end of 2016. Both vessels will engage in the transport of LNG from the Ichthys Project to Japan and Taiwan.

1. LNG Carrier for INPEX – serving Naoetsu, Japan

“K” Line and INPEX have formed a joint venture, Ocean Breeze LNG Transport S.A. (OBLT), with a stake of ”K” Line 70% and INPEX 30%.

OBLT has signed a long-term Time Charter with INPEX Shipping Co., Ltd. (subsidiary of INPEX) and has also executed a Shipbuilding contract with MHI. This vessel will engage in the transport of LNG from Ichthys Project to INPEX’s Naoetsu LNG Receiving Terminal in Niigata, Japan.

This vessel adopts “Sayaendo”, a unique structure integrating LNG tank cover with vessel hull introduced by MHI, which enables the vessel to improve fuel consumption through vessel’s weight reduction and hull line improvement.

2. LNG Carrier for INPEX/TOTAL – serving Taiwan

“K” Line has also signed a long-term Time Charter with IT Marine Transport Pte. Ltd., a joint venture of INPEX Shipping and a subsidiary of TOTAL, and has also executed a Shipbuilding contract with KHI. This vessel will engage in the transport of LNG from Ichthys LNG Project to CPC Corporation, Taiwan.

This vessel is the largest size of Moss-type LNG carriers newly designed and developed by KHI. This vessel is also the first Moss-type LNG carrier equipped with Duel Fuel Diesel Electric (DFD) propulsion system(※).

(※)DFD propulsion system is propelled by electric motors utilizing power generated by Diesel Generators being fueled by boil-off gas and/or marine fuel oil.

“K” Line has signed a long-term Time Charter contract for one vessel this April with Chubu Electric Power Co., Inc., thus it will be “K” Line’s second and third LNG Carrier awarded so far in 2013.

As committed under “K” Line’s mid-term management plan “Bridge to the Future,” LNG transportation business will contribute to the long-term stable earning structure and “K” Line further aims to expand its LNG transportation business by utilizing its expertise and worldwide network developed over the past 30 years since the delivery of S.S. “Bishu Maru” in 1983, the first LNG carrier owned by any Japanese shipping company.

Main Particulars of the Vessel:

　

For Naoetsu, Japan

For Taiwan

Shipyard

Mitsubishi Heavy Industries, Ltd.

Kawasaki Heavy Industries, Ltd.

　

Nagasaki Shipyard

Sakaide Shipyard

Delivery

End of Year 2016

LOA

About 288m

About 300m

Beam

About 49m

About 52m

Tank Type

Moss

Tank Capacity

155,300m3

182,000m3

Propulsion System

Reheat Steam Turbine
(Ultra Steam Turbine Plant)

DFD (Dual Fuel Diesel)

Speed

19.5knt

19.5knt

Boil Off Rate（※）

0.08% per day

0.08% per day

　(*)Boil Off Rate (BOR)： Ratio of natural vaporized gas against maximum tank capacity to indicate

 capability of tank heat-insulation system. The vessel’s BOR 0.08% per day, improved twice as much

 from 0.15% of the conventional LNG carriers, is the lowest BOR among all LNG carriers in the world.

 

Filed Under: "K" Line