Transport communications

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Archives for August 2022

“K” LINE Conducts Trial Use of Marine Biofuel for Decarbonization on Supramax Bulker

August 30, 2022 by

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) is pleased to announce that we have conducted a trial use of marine biofuel which was supplied by pioneering marine biofuel supply company GoodFuels on Supramax bulker “ALBION BAY” with the cooperation of JFE Steel Corporation. This is second successful trial use of marine biofuel by “K” LINE vessel.

“K” LINE signed a deal for marine biofuel supply with GoodFuels. The vessel completed the loading operation of Hot Rolled Steel Coils at JFE Steel Corporation West Japan Works on July 24th, 2022 and started navigation to discharging port at Pakistan. The marine biofuel was delivered to the vessel at off Singapore on Aug 3rd, 2022. After leaving Singapore, the vessel conducted the trial use of the marine biofuel and safely arrived at discharging port on Aug 16th, 2022.

Marine biofuel has the potential to become an environmentally friendly alternative fuel generally. Bio-diesel will be able to reduce CO2 by about 80-90% in the well-to-wake (from fuel generation to consumption) process without changing current engine specifications. We conduct this trial by using marine biofuel blended with bio-diesel and fossil fuel.

In addition to this trial, “K” LINE is planning same kind of trial use of marine biofuel by cape size bulker for raw material shipment of JFE Steel Corporation and we aim to contribute the decarbonization of the entire marine transportation in our customer’s supply chain.

In “K” LINE Environmental Vision 2050 -Blue Seas for the Future- (Note1), we have set the 2030 interim target of improving CO2 emission efficiency by 50% over 2008, surpassing the IMO target of 40% improvement. Furthermore, we set our new target for 2050 as “The Challenge of Achieving Net -Zero GHG Emissions”. As an action plan, we will continue to work on the introduction of new fuels, which have a low environmental impact and take on the challenge of achieving the targets set forth.

(Note1) “K” LINE Environmental Vision 2050 “Blue Seas for the Future”

As an action plan for GHG reduction, we are introducing zero-emission fuels such as ammonia and hydrogen fuels, as well as carbon-neutral fuels such as bio-LNG and synthetic fuels.

https://www.kline.co.jp/en/csr/environment/management.html

Filed Under: "K" Line

“K” Line : Collaboration on vessel management in the offshore wind construction and maintenance fields

August 30, 2022 by

“K” Line Wind Service, Ltd. (KWS), a joint venture company between Kawasaki Kisen Kaisha, Ltd. (“K” LINE) and Kawasaki Kinkai Kisen Kaisha, Ltd., have signed a memorandum of understanding (MOU) with PENTA-OCEAN CONSTRUCTION CO., LTD. (POC), regarding future collaboration on vessel management etc., in the offshore wind construction and maintenance fields

In Japan, offshore wind power is expected to increase its supply capacity as a major source of renewable energy to commit to carbon neutrality by 2050. In this context, the entire country is witnessing a surge in momentum for offshore wind construction.

POC currently intends to own three offshore installation vessels in total: (1)Japan’s first offshore installation vessel equipped with a large crane, “CP-8001” (800t lifting capacity, operating since 2019), (2)The offshore installation vessel “CP-16001”(1,600t lifting capacity, scheduled to start operations in March 2023), currently under joint construction with Kajima Corporation and Yorigami Maritime Construction Co., Ltd., and (3)Another offshore installation vessel “Sea Challenger” (to be upgraded to 1,600t lifting capacity, scheduled to start operations in spring 2025), planned to be owned by Japan Offshore Marine Co., Ltd(hereinafter, JOM). JOM is a joint venture company between POC and a Belgian-based company DEME Offshore Ltd. In the years to come, we plan to expand our fleet varieties for cable laying vessels and others to the extent necessary, in order to further reinforce our competitive edge in offshore wind construction works.

KWS was established in June 2021 as a joint venture between Kawasaki Kisen Kaisha, Ltd. and Kawasaki Kinkai Kisen Kaisha, Ltd. to contribute to the field of offshore wind construction and maintenance works, by leveraging the proven track record of the Kawasaki Kisen Kaisha Group in the offshore vessel operations and offshore support vessel services both in Japan and overseas. Kawasaki Kinkai Kisen Kaisha and POC have been building a cooperative relationship through the construction and operation of the offshore support vessel “KAIKO” (6,000hp, operating since 2021) for POC’s “CP-8001”.

POC is a front runner in marine civil engineering and offshore wind construction, and KWS has extensive expertise and know-how in operating various types of carriers and offshore support vessels at home and abroad, as a member company of the Kawasaki Kisen Kaisha Group. Both companies will draw on their expertise in each respective area and ample management resources to collaborate on the management (operation, maintenance and crewing) of vessels used in offshore wind construction and maintenance works.

POC will outsource to KWS: (1) Reflagging the foreign-flagged offshore installation vessels to be owned by the subsidiary, JOM, to Japanese register, and (2) Subsequent management of vessel operation, maintenance works, and crewing. POC will also utilize offshore support vessels owned by KWS. In addition, both companies will cooperatively investigate the construction and co-ownership of Service Operation Vessel (SOV) and others required for Operation & Maintenance (O&M) works after start of wind farm operation.

Filed Under: "K" Line

GEODIS Signs Expanded Agreement with Locus Robotics to Deploy 1,000 LocusBots at Global Warehouse Sites

August 30, 2022 by

Nashville and Wilmington, Mass. [August 25] – GEODIS, a leading global transport and logistics provider, and Locus Robotics, the leader in autonomous mobile robots (AMRs) for fulfillment warehouses, today announced a new expansion agreement to deploy a total of 1,000 LocusBots at GEODIS’ worldwide warehouse locations over the next 24 months. This represents one of the industry’s largest AMR deals to date.

“As we continue to navigate industry-wide challenges such as skyrocketing e-commerce demand and labor constraints, it is crucial we remain committed to implementing the most innovative and effective robotics automation solutions available into our warehouses to allow us to best serve our customers,” said Eric Douglas, Executive Vice President of Technology and Engineering at GEODIS in Americas. “Locus’ collaborative multi-bot approach has proven its effectiveness and reliability at each of our sites, giving us the ability to easily scale performance while providing a safe, smart working environment for our teammates. This new expansion agreement reinforces our clear and ongoing commitment to cutting-edge technology to meet our exploding customer volumes globally.”

GEODIS has currently deployed Locus AMRs at 14 sites around the world, serving a wide range of retail and consumer brands, including warehouses in the U.S. and Europe. The agreement will expand that footprint significantly as new sites are deployed.

“Locus’ built-in flexibility, scalability and fast ROI are helping GEODIS to consistently meet and exceed their global customers’ expectations,” said Rick Faulk, CEO of Locus Robotics. “This strategic expansion enables GEODIS to meet the needs of today’s high-growth warehouses and we look forward to continuing to work together to drive operational efficiencies and growth.”

GEODIS and Locus Robotics first began partnering together in 2018 at an Indiana site, allowing the global third-party logistics company to implement Locus’ innovative technology into its operations to support its workforce with the complex picking process. Since then, the Locus Solution has provided improvements in productivity, flexibility and agility while enhancing the workplace environment for teammates by reducing tedious, repetitive tasks to increase retention across sites, ultimately allowing GEODIS to enhance its operations and best meet evolving customer needs.

With the explosion of e-commerce and the ongoing labor shortage, adding robotics automation has become a critical, strategic need to meet customer demands. LocusBots help GEODIS e-commerce warehouses efficiently manage order picking and inventory replenishment, significantly increasing throughput to speed delivery processes. LocusBots significantly reduce unproductive walking time, eliminate maneuvering heavy manual carts through warehouses, lower the physical demands on employees, and improve workplace ergonomics and quality.

To learn more about Locus Robotics, visit www.locusrobotics.com. To learn more about GEODIS, visit www.geodis.com.

About Locus Robotics

Locus Robotics’ revolutionary, multi-bot solution incorporates powerful and intelligent autonomous mobile robots that operate collaboratively with human workers to dramatically improve piece-handling productivity 2 – 3x, with less labor compared to traditional piece handling systems. This award-winning solution helps retailers, 3PLs, and specialty warehouses efficiently meet and exceed the increasingly complex and demanding requirements of fulfillment environments, easily integrating into existing warehouse infrastructures without disrupting workflows, instantly transforming productivity without transforming the warehouse. In 2021 Locus Robotics ranked 428 on the Inc. 500 and was named as Forrester’s AMR Company of the Year. For more information, visit www.locusrobotics.com.

About GEODIS
GEODIS is a global leading transport and logistics provider recognized for its commitment to helping clients overcome their logistical constraints. GEODIS’ growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), coupled with the company’s truly global reach thanks to a global network spanning nearly 170 countries, is reflected by its top business rankings: no. 1 in France and no. 7 worldwide. GEODIS employs over 44,000 people globally and generated €10.9 billion in revenue in 2021. Learn more at www.geodis.com.

Filed Under: GEODIS

Collaboration the Key to Safer Transport of Dangerous Goods

August 19, 2022 by

Further support to comprehensive safety guidance issued by a collective of organisations late last year has been received through its endorsement by the International Chemical Transport Association (ICTA).

Drawing on the combined expertise and experience in the movement of dangerous goods around the world, several global trade organisations — International Cargo Handling Coordination Association (ICHCA), International Vessel Owners Dangerous Goods Association (IVODGA), National Cargo Bureau (NCB) and World Shipping Council (WSC) – jointly issued a White Paper entitled, ‘Safety Guidance for Dangerous Goods Storage and Handling Facilities’¹ in December last year.

A number of influential industry stakeholders² have subsequently endorsed the Guidelines and now the International Chemical Transport Association (ICTA) can be added to the list. Richard Steele, CEO of ICHCA welcomed the additional support,

”To make a real difference to the standards of safety in supply chains that feature hazardous materials, it is vital to reach all involved and create a critical mass of like-minded partners. The endorsement of our work by such an authoritative voice as ICTA is therefore decidedly welcome.”

A pivotal element of the White Paper is a Warehouse Checklist. A practical management tool, the Checklist format is a significant addition to the other elements of the White Paper. Broken down into eight key functional areas of operation, its fourteen-pages are designed to be comprehensive yet easily digestible as an everyday device for maintaining safety management vigilance. 

For its part ICTA sees the White Paper and the safety efforts it represents as a step forward in guiding operators to improve their already high standards, “Chemical supply chains rely on an interplay of different actors to deliver dangerous goods safely across the globe,” commented Douglas Leech, Chair of the ICTA Transport & Security Committee. “Chemical distributors cooperate closely with logistical and warehousing companies to make this happen. These guidelines will help them to jointly prevent incidents in their warehouses – keeping workers, neighbors, and the environment safe.”

¹ Both the Dangerous Goods Warehousing White Paper and Checklist are downloadable from here https://ichca.com/warehousing-safety-guidance

² Baltic and International Maritime Council (BIMCO), Bureau International des Containers (BIC), Container Owners Association (COA), Council on Safe Transportation of Hazardous Articles (COSTHA), Danish Shipping, International Chamber of Shipping (ICS), International Federation of Freight Forwarders Association (FIATA), International Group of P&I Clubs (IGP&I) and Through Transport Mutual Insurance Association Ltd (TT Club).

About ICHCA International

Established in 1952, ICHCA International is an independent, not-for-profit organisation dedicated to improving the safety, productivity and efficiency of cargo handling and movement worldwide. ICHCA’s privileged NGO status enables it to represent its members, and the cargo handling industry at large, in front of national and international agencies and regulatory bodies, while its Technical Panel provides best practice advice and develops publications on a wide range of practical cargo handling issues.

Operating through a series of national and regional chapters, including ICHCA Australia, ICHCA Japan and plus Correspondence and Working Groups, ICHCA provides a focal point for informing, educating, lobbying and networking to improve knowledge and best practice across the cargo handling chain.

www.ichca.com

About ICTA

The International Chemical Trade Association (ICTA) represents the global chemical distribution industry and promotes safe and sustainable chemical supply chains. The chemical distribution industry has an important role in enabling chemistry to make a positive societal impact. Aside from taking responsibility for their own operations, chemical distributors interact with their customers and suppliers to help them to work more safely and securely. Based on their deep knowledge of chemicals and global markets, chemical distributors enable innovative chemical supply chains that deliver low-impact products invaluable for global welfare. For more information visit www.icta-chem.org.

Filed Under: ICHCA

Deadline for New UK Customs Import System Imminent

August 19, 2022 by

The long-heralded migration of import declarations from CHIEF to CDS comes to fruition on 30th September.  Importers in the UK must register on CDS prior to that date or face significant delays in customs clearance of their cargoes. Existing CHIEF system will be shut down as of that date.

C4T, the global customs solutions provider is increasingly concerned about the number of UK importers yet to register for, and become familiar with, the customs regulator HMRC’s news Customs Declaration Service (CDS).  The deadline for migration from the old CHIEF system is 30th September and declarations using CHIEF from 1st October onwards will not be valid.  At the beginning of this month HMRC drew attention to the urgent need for importers not yet registered for CDS to take action immediately.

Yesterday HMRC reported that it is seeing increased activity according to all its dashboard measures. The agency distinguishes two critical groups of declarants: the top 248 and 3000 others that should ‘ideally be ready’ (based on the assumption that these companies are currently using CHIEF for imports). Of the top group 225 are live on CDS, representing 77% of all declarations in the current CHIEF system.  400 of the group of 3000 are at least registered on CDS with a further 500 live on the new system.

C4T has clients based in the UK and other parts of Europe regularly moving freight into the country.  Pieter Haesaert is Founder and President,  “HMRC are making concerted strides to close the gap with a programme of pro-active contact to the balance of non-registered importers with the 3000 group.  Over 50% of this out-reach has been completed.” he reports. “In addition to these two critical groups, there are some 15,000 importers with direct debit accounts for the payment of import duty that HMRC states need to adapt to CDS.  They are also being contacted.”

“Despite this concentrated activity by HMRC, and others in educating and advising importers and brokers on the technical detail of the changes in data entry required by the transfer from CHIEF to CDS, there clearly remain major concerns over the lack of preparation by numerous companies.” 

C4T understands that HMRC is planning a further announcement on the progress of the migration to CDS in mid-September.

Whether registered or not there is also a significant lack understanding by importers over aspects of the CDS system.  Haesaert continues, “A poll taken during one of our own regular webinars offering advice on the changes suggested that over a third of respondents felt ‘not comfortable at all’ with the changes to the data fields required for custom’s entries.”

C4T is confident that the CDS technology is ready and capable of handling the change- over, believing it to be well designed and thoroughly tested over a lengthy period. It represents a much needed up-date to the thirty-year old CHIEF system and its final introduction is well timed to be synchronised with similar transfers to new systems that are planned in other European countries over the next two years. 

C4T, along with the majority of software providers, is well prepared to provide the necessary support to UK importers.  With its further established connections into the Dutch, Belgian, French and German customs infrastructures, C4T has the resource to also guide importers and exporters through the coming changes in these countries. 

However as Haesaert says, ”Our immediate focus is on the end of September.  We must continue to urge those companies not CDS compliant to get on-board and seek assistance if they are still not assured of a seamless transfer to the new system.  At C4T we stand ready to help and are prepared to adapt should HMRC feel it necessary to introduce a contingency plan to deal with imports accompanied by incorrect declarations post 30th September.”

About Customs4trade (C4T)

C4T has an unique team of customs experts and best-of-breed technology engineers and has developed CAS, a one-of-a-kind software solution for customs and trade compliance. Managed Customs Services have been added to this product offering, helping companies make the most of their software investment.

CAS is a collaborative hub, built on the Microsoft Azure platform and delivered as a service (SaaS). It is designed to manage regional and worldwide customs and trade compliance quickly and accurately, within one single platform. CAS provides customers with continual updates and feature enhancements, including the incorporation of any changes to legislation and compliance regulation—along with Azure’s signature accessibility, scalability, and security.

Forward-thinking companies are turning to C4T to help them navigate customs and trade with native-cloud software and managed services for their organisation’s highest strategic benefit.  

For more information or to contact the company, please visit www.customs4trade.com.    

Filed Under: Customs4trade (C4T)

GEODIS to acquire Need It Now Delivers to significantly strengthen its U.S. offerings

August 16, 2022 by

GEODIS, a world leader in transport and logistics, today announced that it has signed an agreement to acquire the American company, Need It Now Delivers. The acquisition will enable GEODIS to significantly increase its presence in the United States in the areas of contract logistics and last-mile delivery. The acquisition will also consolidate GEODIS’s position as one of the world’s ten leading logistics providers.

Marie-Christine Lombard, CEO of GEODIS, commented: “The acquisition of Need It Now Delivers is a key step through which we will strengthen and diversify our offerings in the U.S., providing our customers with a global and integrated end-to-end freight network in the United States, from international transport to last-mile delivery. This new acquisition represents an important milestone as we continue to progress on our strategic plan, Ambition 2023.”

Need It Now Delivers operates an expansive domestic road freight network with more than 65 company locations and 300 distribution points, providing strong national coverage, particularly in the eastern United States. To offer its customers complete port-to-door logistics solutions, the company specializes in distribution, last-mile delivery, and in multi-channel contract logistics across a wide range of high-growth industry verticals. Owned in part by management along with the private equity fund Palm Beach Capital, the New Jersey-based company employs approximately 2,000 people and is expected to reach revenues close to $750 million in 2022.

“Our U.S. supply chain business has consistently grown over the last 10 years,” said Mike Honious, GEODIS in Americas President & CEO. “With the services, capabilities, and the leadership team of Need It Now Delivers, we will expand our offerings and support the growth strategies of our customers.”

This acquisition will strengthen GEODIS’s American footprint and e-Commerce services portfolio, with customers able to benefit from the Group’s expertise in end-to-end supply chain expertise in freight forwarding, road transport, contract logistics and last-mile delivery.

Eric Mautner, CEO of Need It Now Delivers, said: “Since our inception in 1987, Need It Now Delivers has scaled rapidly to position ourselves as an industry leader with a special focus on omnichannel and last-mile delivery. Together with GEODIS, our teams can continue to build upon this momentum to provide customers with a more expansive network of flexible, efficient and reliable services that will ultimately allow us to successfully meet projected industry dynamics such as continued e-Commerce growth and increasingly complex supply chains that require the need for omnichannel capabilities.”

Once the transaction is completed, the GEODIS group will employ roughly 15,000 people across more than 200 locations in the U.S and exceeding 17,000 in the Americas. The combined organizations of GEODIS and Need It Now Delivers would have generated $3.7 billion for full year 2021 in the U.S.

The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of 2022. Both companies will operate as independent businesses and run their operations as usual until that time.

GEODIS – www.geodis.com 

GEODIS is a global leading transport and logistics provider recognized for its commitment to helping clients overcome their logistical constraints. GEODIS’ growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), coupled with the company’s truly global reach thanks to a global network spanning nearly 170 countries, is reflected by its top business rankings: no. 1 in France and no. 7 worldwide. GEODIS employs over 44,000 people globally and generated €10.9 billion in revenue in 2021.

PHOTOGRAPHS:

A Selection of photographs can be downloaded HERE

Filed Under: GEODIS

TT Club briefings pinpoint warehouse safety in graphic detail

August 15, 2022 by

Current supply chain focus is predominantly on cargoes on the move, however safety concerns at the multiple locations where goods are ‘at rest’, either at the interfaces between different modes or in longer term storage, are just as critical.

The international freight transport insurer TT Club has turned its attention to the safety risks at cargo storage facilities.  Some of these can lead to catastrophic incidents, though less startling events, together with near misses are more common in a congested supply chain world. Together these may have the potential to be just as damaging and disruptive.  In continuing its mission to mitigate such risks, TT has issued a new warehousing series of its graphic TT Briefs.

As per the example below, TT Briefs are designed to convey risk management advice succinctly in easily digestible form for operators to download* and utilise both in the workplace and throughout their organisations. In the case of the warehouse series, five crucial topics are addressed:

  • Choosing a storage warehouse
  • Operating a safe warehouse
  • Mitigating flood risk
  • Preventing warehouse fires
  • Operating a secure warehouse

“Whether located in port areas or inland, warehouses are a fundamental component of the global supply chain and arguably, they have become increasingly important nodes, as just in time supply chain models are being adjusted with a more conservative approach to longer-term inventory storage,” comments Mike Yarwood, TT’s MD of Loss Prevention. “We are keen to increase awareness of all key risks, however our role at TT is also to guide operators in the prevention of incidents. Our TT Brief series seeks to provide pithy messaging to support toolbox talks and good operational practices.”

Safety precautions begin with practical considerations for establishing a warehouse. These inevitably relate to location, size, availability of labour etc., but the first and most important decision will be whether to own or lease the property. There are considerable differences in responsibilities and liabilities and these must be fully understood to mitigate risk.

While there are more obvious physical measures such as perimeter fences, CCTV and barriers, effective security measures also include procedural aspects such as ensuring due diligence when hiring personnel.  A consideration of growing importance is that of climate change, risk of exposure to weather related losses and likelihood of flooding. A less obvious consideration might be the activities of adjacent facilities, including potential contamination risks from incompatible cargoes.

Perhaps the most significant in terms risk to life, damage and cost of claims, is fire. The primary causes of warehouse fires include electrical failures or malfunction, hot works, maintenance related issues and poor enforcement of no smoking policies. “As with much of our advice on loss prevention, preparation and planning are crucial,” says Yarwood. “Periodic risk assessment, effective maintenance and training, enforcement of policy and good housekeeping are all key as the TT Briefs highlight.”

* www.ttclub.com/loss-prevention/warehouse-risks

About TT Club

TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1100 Members, spanning container owners and operators, ports and terminals, and logistics companies, working across maritime, road, rail, and air. TT Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. It retains more than 97% of its Members with a third of its entire membership having chosen to insure with the Club for 20 years or more.

https://www.ttclub.com

Filed Under: TT Club

“K” LINE enters into Long-Term Time Charter with QatarEnergy for Seven Newbuilding LNG vessels

August 10, 2022 by

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) is pleased to announce the execution of seven long-term Time Charter contracts through joint venture companies (Note 1) with QatarEnergy (Note 2).   The joint venture companies have concurrently executed Shipbuilding contracts for 174,000m3 LNG carriers with Hyundai Heavy Industries Co., Ltd.

QatarEnergy is one of the world’s largest LNG producers and will allocate the newbuilding vessels to transport LNG around the world.

The newbuilding vessels will be equipped with X-DF 2.1 iCER (Note 3) and Air Lubrication System (Note 4) which will contribute to reduction of GHG emissions and realize the ease of environmental impact by lower fuel consumption in operation.

Since the delivery of “Bishu Maru” in 1983 as the first Japanese LNG carrier, “K” Line has been establishing expertise on LNG transportation and developing its worldwide network for nearly 40 years.

“K” LINE and QatarEnergy have had long-term relationship through several existing projects. The new contracts have been executed as a successful result of supervision of vessel’s construction with abundant experience, the high-quality ship management, and the highest level of safe and commercially optimized operation.

In our Medium-Term Management Plan published in May 2022(Note 5), “K” LINE has placed LNG business as one of the top priority areas in the future investment. “K” LINE will further expand long-term contracts and accommodate growing energy demands by responding to various customers’ needs.

(Note 1) It is sponsored by “K” LINE together with Nippon Yusen Kabushiki Kaisha, China LNG Shipping (Holdings) Limited.,　and MISC Berhad through its wholly-owned subsidiary, Portovenere and Lerici (Labuan) Pte Ltd.

(Note 2) QatarEnergy is a state energy company of Qatar.

(Note 3) X-DF 2.1 iCER is a low speed dual-fuel engine with gas at low pressure.

(Note 4) Air Lubrication System is technology to curb the resistance between the ship’s hull and seawater by generating air bubbles on the ship’s bottom.

(Note 5) Medium-Term Management Plan (Released on May 9, 2022)

https://www.kline.co.jp/en/ir/management/strategy.html

Main Particulars of the Vessel

ShipyardHyundai Heavy Industries Co., Ltd.
DeliveryFrom 2025 through 2026
LOAAbout 299m
Beam46.4m
Tank Capacity174,000m3
Propulsion SystemX-DF
Speed19.5knt
Filed Under: "K" Line

“K” LINE selected as a Constituent of FTSE4Good Index Series and FTSE Blossom Japan Index

August 9, 2022 by

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has been selected as a constituent of the “FTSE4Good Index Series”, one of the leading global indices for ESG investing, for the first time in two years, and “FTSE Blossom Japan Index” for six years in a row since the index was launched in 2017.

Created by the global index provider FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company), the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. (1,093 companies selected from developed countries, including 224 Japanese companies, and 566 companies from emerging countries). The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.

On the other hand, FTSE Blossom Japan Index reflects the performance of Japanese companies that demonstrate strong ESG practices (253 companies selected out of 1,395 constituents of FTSE Japan All Cap Index). This index has been adopted as a benchmark of ESG investing by Government Pension Investment Fund (GPIF) in Japan. 

“K” LINE has been addressing sustainability as a priority issue of its corporate management, and advancing various initiatives to respond flexibly to various needs. These include not only changing customer needs, but also the needs of nations and the global community, especially for the achievement of the UN Sustainable Development Goals, and measures to mitigate climate change. Going forward, “K” LINE will continue to pursue conservation of the global environment while helping to realize a sustainable society through proactive sustainability efforts. We will also remain steadfast in our pursuit of growth opportunities and greater corporate value.

Filed Under: "K" Line

TT Club announces new CFO appointment

August 9, 2022 by

With effect from 1 August 2022, EeLain Ong has taken over as Chief Financial Officer (CFO) of international freight transport and logistics insurer TT Club. Appointed in April 2022, Ong has shadowed the outgoing CFO Julian Chowdhury in his position for the intervening months prior to his retirement.

As CFO of the well-established specialist mutual insurer, Ong’s challenges will be to achieve business plan profit targets via operational efficiencies focussed on simplifying and automating processes along the insurance value chain.

In making the announcement Charles Fenton, CEO of TT Club comments, “TT is fortunate to have in EeLain someone of vast and varied experience so suited to the Club’s structure and nature of its business. Over her 27 year career she has held leadership positions within finance, treasury and tax at re/insurance companies, captives, mutuals, start-ups and Lloyd’s syndicates, and across multiple jurisdictions globally. She replaces a true professional in Chowdhury, who we thank for his long and tireless service of almost 30 years. We wish him a happy and fulfilling retirement.”

Ong is a graduate of Hull University and a Chartered Accountant (FCA). In addition to roles at re/insurance providers, she also had experiences as a regulator,  an auditor, and an M&A corporate financier – all of which has exposed her to structuring finite, legacy and traditional risk transfer deals within the realms of financial governance.

“I see the strength of TT as a reliable and expert risk management provider for organisations in the global supply chain sector which is continually undergoing disruption.  My role in part will be to help maintain TT’s agility to adapt to this changing trade environment, yet remain consistent in delivering renown service and claims efficiency,” says Ong.

About TT Club

TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1400 Members, spanning container owners and operators, ports and terminals, and logistics companies, working across maritime, road, rail, and air. TT Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. It retains more than 97% of its Members with a third of its entire membership having chosen to insure with the Club for 20 years or more.

https://www.ttclub.com

Filed Under: TT Club
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