Transport communications

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TT Club

Campaign for Greater Container Safety Must Focus First on Dangerous Goods

The recent reports of container ship fires has once more focussed those in the container supply chain on safety issues related to the incorrect processing of dangerous goods.  The nascent Cargo Integrity campaign initiated by the international transport and logistics insurer, TT Club has as a consequence gained renewed impetus. 

20 March, 2019

The recent fire aboard ‘Yantian Express’, details ofthe final judgment on the  ‘MSC Flaminia’ explosion in July 2012, and the ongoing investigation of the ‘Maersk Honan’ fire are currently making headline news.  Then just days ago news has come in of ‘Grande America’ sustaining a container fire in the Bay of Biscay and subsequently sinking.  These perilous incidents not only frequently cost lives, millions of dollars in cargo losses and ship damage, but also significant delays in cargo supply chains amounting to major disruption across numerous industries in these ‘just-in-time’ days.

Yet these incidents are merely the tip of a failing safety iceberg.  Taking the maritime segment of global supply chain, it is estimated that a major container ship fire at sea occurs on average every 60 days, albeit that there have already been four major cargo-related fire incidents in 2019.  Furthermore TT Club’s records indicate that across the intermodal spectrum as a whole, 66% of incidents related to cargo damage can be attributed to poor practice in the overall packing process; that is not just in securing but also in cargo identification, declaration, documentation and effective data transfer. The calculated cost of these claims in the Marine Aviation & Transport (MAT) insurance sector is in excess of USD 500 million a year.

Peregrine Storrs-Fox, TT Club’s Risk Management Director, is leading the Cargo Integrity charge, “We are endeavouring to focus all direct and indirect stakeholders on recognising and doing the right thing,” he states. “One particularly critical aspect of this is the correct declaration and handling of dangerous goods (DG).”

All types of cargo can be mishandled, however wrongly classified, labelled, packed or simply inaccurately identified dangerous commodities bring the greatest potential risk of disaster.  Estimating the degree of failure to comply with best practices in this regard is not straightforward.  ICHCA International, the cargo handling operatives association has calculated that of the 60 million packed containers moved each year, 10% or six million are declared as DG.  Information from published government inspections (which are invariably biased towards declared DG loads) suggests that 20% of these are poorly packed or incorrectly identified.  This translates into 1.3 million potentially unstable DG containers traveling around the world each year.

Storrs-Fox emphasises that this scale of risk is elevated when undeclared or misdeclared DG consignments are considered.  “In these cases an estimate of volumes is more obscure. An indication has been given through the work of one container carrier, Hapag-Lloyd, developing a profiling algorithm to search its booking system for potential misdeclaration of commodities.  Results from Cargo Patrol, when extrapolated to the carryings of all the lines, concludes a reasonable estimate in excess of 150,000 volatile containers in the supply chain each year.”

Container lines in particular are making efforts to mitigate the problem.  The Cargo Incident Notification System (CINS), in which many of the top lines participate, has been active for a number of years and has successfully identified a number of commodities that commonly cause problems during transport – not always limited to those formally identified as dangerous.  TT Club has additionally promoted, together with UK P&I Club and Exis Technologies, the Hazcheck Restrictions Portal, which is designed to identify and streamline the complexity of regulations and protocols imposed by carriers and ports around the world in relation to transporting declared dangerous goods.

However, as Storrs-Fox concludes, “There is very much still to be done in achieving true Cargo Integrity. Our diverse campaign is seeking significant cultural and behavioural change to say the least.  Certain elements may require legislative action, enforcement and inspection and there are great challenges in the field of technological development.  Above all there is a need for all involved in the supply chain to have a realistic perception of risk and a responsible attitude towards liability.”  

ENDS

Notes to editors

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

www.ttclub.com

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TT Club appoints new Senior Underwriter

TT Club, the international transport and logistics industry’s leading provider of insurance and related risk management services, has appointed Andrew Peers as the Senior Underwriter for its UK, Benelux and Nordic underwriting team.

Andrew joins the Club from RSA, where he spent 17 years and led a team of 12 marine liability and marine property insurance underwriters, delivering value to his clients and London market brokers. Andrew has also held senior positions at GE Frankona and Willis.

Reporting to the Club’s EMEA Regional Director Mark Argentieri, Andrew will head up an underwriting team focused on driving forward and providing continued support to TT Club’s core transport, logistics and ports business in the North European market. He will be working closely with the Club’s regional broker partners and industry contacts, whilst bringing key London market brokers to the Club.

Mark Argentieri says: “Andrew is a highly respected, well experienced marine insurance professional and his appointment further reinforces TT Club as the centre of expertise for the global container transport insurance industry.  His skills and contacts will undoubtedly be a great asset to the EMEA region and the Club as a whole in delivering real value to our membership.”

TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

www.ttclub.com

 

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Best Journalistic Newcomer Award Supported by TT Club

1218 Peregrine Storrs-Fox, TT Club presenting Seahorse Newcomer of the Year to Joseph Stewart, The Naval Architect

Peregrine Storrs-Fox, TT Club presenting the Seahorse Newcomer of the Year Award to Joseph Stewart, The Naval Architect

London, 10th December, 2018

Leading international transport and logistics insurer, TT Club has been an enthusiastic supporter of the Seahorse Club Journalist Awards for some years. The Awards are specifically for media professionals active in the maritime, air cargo and logistics arena. At the 2018 Awards presentation last week, TT Club again sponsored the category that encourages and celebrates new talent in the press ranks of freight transport. The Newcomer of the Year was announced as Joseph Stewart of The Naval Architect.

TT Club’s Risk Management Director, Peregrine Storrs-Fox presenting the award explained the Club’s thinking behind its support for the Award, “Effective communication through the media is an important priority in all walks of life. In this supply chain sector, TT Club wants to recognise and nurture those who have recently chosen to work in related media.”

The award entries were judged by a panel of international media and marketing communications professionals after editors of media outlets in the sector were asked to nominate journalists with no more than two years’ experience who show out-standing potential, demonstrating a clear understanding of the salient issues facing the modern freight transport industry. Furthermore, the editors were urged to identify candidates producing consistently high quality content, providing an informative read and a balanced view on the subject at hand.

This year the calibre of nominees’ writing was extremely high. The judges commented, “The scoring was very close, with the other short-listed entrants being Kate Jones of Carmar Media and Michael Juliano, who writes for Tradewinds quarterly, TW+. However, Joseph really shone as a clear winner. His article encompassed a very rounded discussion of a complex topic, presented with great understanding and a mature writing style.”

Joseph only joined The Naval Architect as Editorial Assistant last December, previously working on books about Lego for Dorling Kindersley, but has quickly developed a firm understanding of the complex issues that dominate discussion in the maritime industry.

As Storrs-Fox concluded, “We are keen to encourage young, enthusiastic and well trained journalists to thrive in the sector. I’m delighted to say that the standard of entrants for the Newcomer category was outstanding and their level of professionalism and balanced reportage was very impressive.”

ENDS

Notes to editors:

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. As a mutual insurer, 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 on a smaller scale but whose operations face similar risks. TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Operators, Marine Terminals, Stevedores, Port Authorities and Ship Operators. TT Club is managed by Thomas Miller.

www.ttclub.com

About Thomas Miller

Thomas Miller is an independent and international provider of insurance, professional and investment services. 

Founded in 1885, Thomas Miller’s origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations. 

Principal activities include:

  • Management services for transport and professional indemnity insurance mutuals
  • Investment management for institutions and private clients
  • Professional services including legal services, claims and captive management
  • Managing General Agency

www.thomasmiller.com 

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‘Play for Pink’ Fundraising nears Half a Million Dollars

A charity initiative by insurance services company Thomas Miller ( Americas) Inc  has very nearly broken the half a million dollars barrier in funds raised for the Breast Cancer ReseaPlay for Pink - Image 11rch Foundation over the last three years, thanks to the ‘Play for Pink’ Golf Day held last month.  A total of 112 players representing companies throughout the US maritime and insurance community and also from Venezuela and Panama participated at the Forsgate Country Club in New Jersey.

This was a corporate golf day with a difference and thanks to the generosity of the hosts, sponsors and guests, it will make a real difference in the fight against breast cancer.  $206,000 was raised to add to the ‘Play for Pink’ donations from the last two years in order to reach a total of just under $500,000. 

Thomas Miller is the manager of shipping and transport insurance mutuals, UK P&I Club and TT Club.  Mike Jarrett, president of Thomas Miller (Americas) Inc thanked all the participants, “The commitment of the UK P&I and TT Club members as well brokers, attorneys and industry consultants in supporting our fund-raising efforts is astonishing.  I’m proud to be able to bring together the maritime community in the US to help research into the eradication of breast cancer; a blight that has touched us all either directly or indirectly”.

Among the organisations participating (many representatives of which are highlighted in the accompanying images) were:

  • Royal Caribbean Cruises
  • Disney Cruise Line
  • Bouchard
  • Harley Marine
  • Phoenix Bulk
  • Seaboard Marine
  • US Shipping
  • Dunlap Towing
  • Mediterranean Shipping (MSC)
  • Chembulk Tankers
  • AP Moller-Maersk
  • Diamond S Shipping
  • OEC Group
  • Atlantic Container Line (ACL)

Thomas Miller Americas considers itself dedicated to this cause and its fundraising efforts will be on-going.  Organization of each event and recruiting of sponsors begins in May each year and the 2019 Play for Pink Golf Day is already on the calendar for 1st October.  “The maritime community in this part of the world is as altruistic as any industry group,” comments Jarrett, “And we look fo

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BSI and TT Club Issue Semi-Annual Global Cargo Theft Intelligence Report

First edition of a new regular report reveals violent truck hijackings account for 24% of cargo theft incidents globally; food and beverage sector most targeted at 27%.  Other detailed trends and risk mitigation advice included

BSI Supply Chain Services and Solutions and leading international transport and logistics insurer, TT Club launch the first joint 2018 Semi-Annual Global Cargo Theft Intelligence and Advisory Report. The report brings together threat and intelligence data from BSI’s supply chain security country risk intelligence tool, SCREEN and TT Club’s insurance risk management and loss prevention insights.

Several key findings from the TT Club/BSI report highlight the severe impact which cargo theft has on global supply chains. As highlighted in the report, the Food and Beverage sector suffers from the highest rates of cargo crime across the globe, accounting for 27 percent of all incidents; whilst Consumer Products and Hi-Tech Electronics industries suffer high rates of cargo theft as well. Transport by road is the most often targeted mode for cargo crime across the globe, attributed to over 75% of all cargo theft incidents, with warehousing being the second most vulnerable target 19 percent.

BSI and TT Club have authored this report to demonstrate their shared goal of educating the transport and manufacturing sectors about the dynamic cargo theft risks present across the globe. With the enhanced awareness of cargo crime trends across the globe, industry will be able to engage in a proactive approach in preventing cargo crime and also minimising the financial loss and brand reputation damage that results from cargo crime.

The report highlights key risk insights into the trends in the following cargo disruption-related topics, including:

  • Regional Breakdown
  • Countries of concern
  • Tactics and Trends
    • Targeted modes
    • Targeted Commodities
    • Top Locations of Thefts
    • Prevalence of hijackings
  • Incident Highlight and Analysis article

Furthermore, the report includes several pieces of loss prevention advice to counter the identified threats presented in the report. The risk mitigation advisory sections have been co-authored by BSI’s Advisory Supply Chain Security team and the TT Club’s claims and loss prevention team.

To download the BSI/TT Club Semi-Annual Global Cargo Theft Intelligence Report –2018, please click on this link- https://www.ttclub.com/loss-prevention/publications/tt-club-bsi-cargo-theft-report-h1-2018/

ENDS

About TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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

TT Club is managed by Thomas Miller.   www.ttclub.com

About BSI

BSI is the business improvement company that enables organizations to turn standards of best practice into habits of excellence. For over a century BSI has championed what good looks like and driven best practice in organizations around the world. Working with over 86,000 clients across 193 countries, it is a truly international business with skills and experience across a number of sectors including automotive, aerospace, built environment, food, and healthcare. Through its expertise in Standards Development and Knowledge Solutions, Assurance and Professional Services, BSI improves business performance to help clients grow sustainably, manage risk and ultimately be more resilient.

To learn more, please visit: www.bsigroup.com

About BSI Supply Chain Services and Solutions
BSI Supply Chain Services and Solutions is the leading global provider of supply chain intelligence, auditing services, audit compliance and risk management software solutions, and advisory services. Our mission is to help corporations, governments and associations identify, manage and mitigate global supply chain risks and maintain world class governance risk and compliance programs.  Our holistic supply chain risk management suite is designed to predict and visualize risk, and develop robust risk mitigation and compliance management programs to protect your supply chain, brand and reputation. Our intelligence-infused supply chain solutions and global network empower our clients to understand global supply chain risk with unequaled precision.

To learn more, please visit www.bsi-supplychain.com

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Young International Freight Forwarder Award Enters its Third Decade with Announcement of this Year’s Winner

181001 YIFFY Award Winner

(l to r) Thomas Sim, Chairman of FIATA’s ABVT Group; Award Winner Louis Perrin, Hemisphere Freight (UK); Michael Yarwood of Sponsor, TT Club; Huxiang Zhao, immediate past President, FIATA

The FIATA award programme, exclusively sponsored by freight insurance specialist TT Club, was completed with the 2018 Winner, Louis Perrin of Hemisphere Freight representing BIFA (UK), announced and presented with his award at the FIATA Annual Congress in New Delhi, India this week.

01 October, 2018

The future sustainability of professional standards of skill and knowledge in the global freight forwarding community depends on training and motivation of the young recruits to the industry. For twenty years FIATA has maintained its efforts to nurture such talent through its annual Young International Freight Forwarder of the Year campaign.

The competition is both challenging and rewarding for the candidates, who are nominated by their National Forwarding Associations to take part in the competition.

Each candidate is required to submit a 6,000 word dissertation outlining an import and export shipment from their native country. The four regional finalists are then 

invited to attend the World Congress to present their dissertations in person to a panel of judges. This experience provides each with an invaluable learning and networking experience. 

On this occasion the overall winner, Louis Perrin was joined by the three other regional finalists Tjaka Segooa representing SAAFF (South Africa), Kendyl Baptiste representing CIFFA (Canada) and Sarah Skrypec representing CBFCA (Australia).

As an organisation committed to encouraging the highest standards of best practice in the freight industry, specialist insurance provider TT Club has been supporting the award through its sponsorship for all of its twenty-year history. The award winner will be able to attend two one-week training sessions with the TT Club at one of their regional headquarters in London, New Jersey or Hong Kong.

TT Club’s Senior Loss Prevention Executive, Mike Yarwood on presenting the winner with his award commented, “In keeping with FIATA’s commitment to encourage professional skills development, we will continue to invest, through this programme and others in the training and education of logistics and supply chain professionals around the world. We are delighted that the YIFFYA programme grows in popularity with a total of 17 entries this year; ranging in content from the transport of live plants, super cars and aircraft components to Antarctic ice and even a rhinoceros. Long may our future logistics leaders learn, improve their skills and enthusiastically report in their achievements.” Mr Thomas Sim, Chairperson of the Advisory Body Vocational Training looked forward to next year’s participants and to reading the impressive dissertations that result from this competition. He invited all FIATA Association Members to participate.

To learn more about the YIFFY Award, please join us through the following social media platforms.

Twitter:       @yiffya

LinkedIn:     https://www.linkedin.com/groups/3670002

Facebook:  https://www.facebook.com/groups/252961425173993/

About TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

TT Club is managed by Thomas Miller.

www.ttclub.com

About FIATA

FIATA, the International Federation of Freight Forwarders Associations, was founded in Vienna, Austria on May 31st 1926.  It is a non-governmental organisation that today represents an industry covering approximately 40,000 forwarding and logistics firms, employing around 10 million people in some 160 countries. FIATA has consultative status with the Economic and Social Council (ECOSOC) of the United Nations (inter alia ECE, ESCAP, ESCWA, etc.), the United Nations Conference on Trade and Development (UNCTAD), and the UN Commission on International Trade Law (UNCITRAL) as well as many other UN related bodies, e.g. the World Bank. It is recognised as representing the freight forwarding industry by many other governmental organisations, governmental authorities, private international organisations in the field of transport and logistics, such as the European Commission (through CLECAT), the International Chamber of Commerce (ICC), the International Air Transport Association (IATA), the International Union of Railways (UIC), the International Road Transport Union (IRU), the World Customs Organization (WCO), the World Trade Organization (WTO), etc.

For further information, please go to: www.fiata.com 

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TT Club Emphasises Need for Cargo Integrity Ahead of IMO Meeting on Container Safety

London, 10 September, 2018

The International Maritime Organization’s (IMO) latest meeting of the Sub-Committee on Carriage of Cargoes and Containers (CCC) takes place in London this week and the international freight insurance specialist, TT Club is calling for more urgent action on issues pertaining to the safety of container transport.

For some time now the insurer has been drawing both industry and regulators’ attention to the need for greater ‘Cargo Integrity’, by which is meant the safe, secure and environmentally sound packing, handling and transport of all goods in containers and other transport units, in compliance with conventions (such as SOLAS[1]) and codes, including IMDG Code[2] and the CTU Code[3]

TT Club’s Risk Management Director, Peregrine Storrs-Fox comments, “Achieving such Cargo Integrity across the complex web of the international freight supply chain is a big ask and we are in little doubt that a comprehensive result will take time to achieve.  However many industry bodies are making significant strides, particularly in the areas of dangerous goods identification, declaration and handling as well as container weighing and packing.  We are calling on the regulators, in this case the IMO, to assist in taking action to identify appropriate legislative and behavioural change that will improve safety and certainty of outcome.”

A primary concern is the problem of mis-declared dangerous goods, with some sources suggesting that container fires occur on a weekly basis and that a major container cargo fire engulfs a ship at sea on average once every 60 days.  Such incidents are costing seafarer lives, result in loss and damage to goods and ships running into hundreds of millions of dollars, impact the environment and are significantly disrupting supply chains serving markets throughout the world.

TT Club has analysed data pertaining to such losses and contributed the aggregated experiences of those it insures, carriers, forwarders, ports, terminals and cargo owners, to help inform the cargo handling trade association, ICHCA, which benefits from consultative status at IMO, in its submissions to CCC sitting this week.

There are both general and specific issues addressed in these submissions, which are intended to urge the committee members to propose positive action.  Storrs-Fox emphasises just two of the more urgent initiatives required, “Reports by IMO member states of container inspections are woefully few; just seven countries submitting reports this year.  Furthermore, TT Club and ICHCA have submitted details of the Top 10 commodities that may lead or have led to incidents – not all of which are classified as dangerous goods.  Understanding in detail the parameters in force for the various stakeholders involved with such cargoes should inform how advances in safety can be achieved.”

In addition, there is a need for increased regulatory coordination and harmonisation.  The TT Club/ICHCA submission recognises the need for greater collaboration by all stakeholders in industry and government to engender consistency in the guidelines that all may follow and promote greater safety in transporting cargoes around the world.  “As a step towards the goal of true Cargo Integrity, we are calling on the IMO to initiate a correspondence group to advise on the best means of achieving such unified guidelines,” concludes Storrs-Fox.

For full details of the TT Club/ICHCA Submission to IMO please click here ICHCA CCC5    Further information on current regulations and codes of practice, please refer to TT Club’s latest newsletter, TT Talk www.ttclub.com/loss-prevention/tt-talk

[1] International Convention for the Safety of Life at Sea (SOLAS), 1974 as amended

[2] International Maritime Dangerous Goods Code

[3] 2014 IMO/ILO/UNECE Code of Practice for Packing of Cargo Transport Units

About TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

TT Club is managed by Thomas Miller.

www.ttclub.com

 

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Rising to the digital challenge in shipping

  • Joint TT Club & McKinsey report concludes that the future is digital
  • ‘Brave new world?’ examines two potential future digital scenarios, one of which is termed ‘Digital reinvention’

Industry experts, looking at the future for the container transport industry over the next 25 years, see the possibility of traditional supply chain service providers being significantly challenged. Increasingly digitally enabled services, which can directly control the flow of goods from factory to consumer, will become progressively more influential.

Indeed, these ‘Digital natives’, that apply technology to previously unsolvable challenges (as has been seen with Amazon and Alibaba), as well as ‘scrappy tech start ups’, fast-moving newcomers assuming an integrator role, could transform and re-shape the container transport industry.

In their ‘Brave new world? – Container transport in 2043’ report, leading international freight transport insurer TT Club, in conjunction with global management consulting firm McKinsey, have looked at the future of containerised trade, how value can be created and who the ‘winners’ could be within the industry by 2043.

Having carefully garnered the perceptions of leading figures from a cross section of the transport industry and beyond, the report highlights that an efficient containerised supply chain, acting like a conveyor belt from factory to consumer, could be one of the significant changes in the future outlook. 

It acknowledges the well-known paradox of cargo owners and end-consumers enjoying lower costs, while industry players struggle to share in the value-creation and highlights six potential sources of value creation.

180806 Six Sources of value creation

 

1.    Greater economies of scale – The exceptional expansion in ship sizes has reverberated through the rest of the container supply chain. A key question for the future is the extent to which customers prefer lower unit costs or greater flexibility
2.    Flexibility – Do customers value faster, more direct services? If so, scale would be deprioritised in favour of flexibility and modularity
3.    Supply chain reliability and predictability – The other side of the flexibility coin, as e-commerce changes consumer expectations, driving improved cycle-times and transparency
4.    Consolidation and integration – So far seen in limited segments of the industry, which is still fragmented compared to some comparable industries and with potential of optimisation through vertical integration 
5.    Automation and productivity hold the potential to improve reliability and service levels, while reducing structural cost#
6.   Environmental performance – Responding to the challenges relating to fuel and emissions but also the growing societal sensitivities towards protection of the environment

 

 

The container transport industry today is entering a period of incredible experimentation as different players try to find a winning formula to create value. The Digital Reinvention scenario goes some way to utilising the six suggested sources of such value creation, resulting in a 2043 landscape in which the incumbents of the container transport industry lead what is fundamentally a digital future, where trade developments may not be the key driver. In this world, flexibility, resilience and optimisation are paramount, applying the ‘last mile’ lessons to deep sea trades. Furthermore, vertical integration becomes the strategic imperative in order to build effective digital platforms and operating systems that both satisfy, and benefit from, end to end demand. Scale economies lose value, as flexibility and deep integration into customer supply chains  increase, providing transparency, predictive capability and high reliability.

In this 2043 scenario, as the report states, “Digital, data and analytics have indeed become the fundamental driver of value creation. Players with significant asset footprints lead the way, with proprietary data that allows them to out-compete any potential disruptive entrant. Data and technologies like blockchain are used in creative ways and many digital native suppliers of software and analytical solutions thrive.”

Charles Fenton, TT Club’s CEO highlights the thought-provoking nature of the research:

“The container transport industry faces a complex future. The industry experts in this research are generally agreed that the physical characteristics of the industry won’t change radically. However, automation holds enormous potential; digital, data and analytics will be central to competitive dynamics, and the business models of industry leaders in 2043 could look very different from today. Digital reinvention is just one of four potential scenarios that our report envisages.  Its in-depth challenge to our perceptions of the future is well worth close consideration. ”

To download a copy of ‘Brave New World?’ please visit: https://www.ttclub.com/news-events/brave-new-world/

ENDS

About TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

TT Club is managed by Thomas Miller.

www.ttclub.com

 

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Regional Winners of FIATA’s Young International Freight Forwarder of the Year Award Announced

London, 11 July 2018

In the year that leading international freight insurer TT Club celebrates its 50th anniversary, FIATA’s Young International Freight Forwarder of the Year Award (YIFFYA) also passes a significant milestone. The 2018 competition witnesses the 20th year of support and collaboration between TT Club and FIATA. Sponsorship of FIATA’s YIFFYA continues to be a priority for TT Club. 

TT Club believes the annual award and the associated entry process is crucial in identifying, recognising and encouraging young talent throughout the freight forwarding community around the world. 

The four regional finalists, selected this year from among 17 entries representing national forwarding associations globally, are:

Region Africa/Middle East:   Miss Tjaka Segooa, South Africa – SAAFF

Region Americas:   Mrs Kendyl Baptiste, Canada — CIFFA             

Region Asia/Pacific:   Miss Sarah Kate Skrypec, Australia — CBFCA           

Region Europe:  Mr Louis Perrin, UK – BIFA 

The entries this year were, as ever, of a high standard and drew from a wide range of dissertation topics. The work of the entrants demonstrated the complexity of processes carried out within the global supply chain and the logistics skills required to serve it.

The diverse subjects covered by the dissertations of this year’s entrants included live plants, super cars, flexi-tanks, aid shipments, aircraft components, Antarctic ice and a rhinoceros.   

Later this year the regional finalists will travel to FIATA’s World Congress hosted by the Federation of Freight Forwarders’ Associations India in New Delhi, India (26th – 29th September) in order to present their dissertations to the steering committee and for the final judging and announcement of the international award winner. 

The prize to be awarded to the winner principally consists of practical and academic training, including a week based at one of TT Club’s regional centres in London, Hong Kong or New Jersey plus a week in TT Club’s Head Office in London. Additionally, one year’s subscription to the International Transport Journal (ITJ) is granted to all four regional winners. 

Mike Yarwood, TT Club’s Senior Loss Prevention Executive and Chairman of the Award Steering Committee commented, “This award aims to contribute to the development of quality professionals in the freight forwarding industry and rewards young talent with valuable training. At TT Club, we are proud to have been a sponsor of the award since its inception and firmly believe in the importance of nurturing the talents and enhancing the skills of young individuals in freight forwarding.”

Thomas Sim, Chairman of FIATA’s Advisory Body Vocational Training, mentioned, “For an emerging young freight forwarder, the YIFFYA is a great platform to immediately be seen by such a wide audience and the press,  and the winning candidate receives generous support from the TT Club team and sponsor. I am extremely excited for this amazing opportunity to showcase young professionals in the pursuit of a successful career.”

ENDS

Notes to editors

TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

About FIATA

The International Federation of Freight Forwarders Associations (FIATA) was founded in Vienna, Austria on 31 May 1926. It is a non-governmental organisation that today represents an industry covering approximately 40,000 forwarding and logistics firms, employing around 10 million people in some 160 countries. FIATA has consultative status with the Economic and Social Council (ECOSOC) of the United Nations, the United Nations Conference on Trade and Development (UNCTAD), and the UN Commission on International Trade Law (UNCITRAL) as well as many other UN related bodies such as the World Bank. It is recognised as representing the freight forwarding industry by many other governmental organisations, governmental authorities, private international organisations in the field of transport and logistics, such as the European Commission (through CLECAT), the International Chamber of Commerce (ICC), the International Air Transport Association (IATA), the International Union of Railways (UIC), the International Road Transport Union (IRU), the World Customs Organization (WCO), and the World Trade Organization (WTO). Learn more at www.fiata.com.

Hans Guenther Kersten, Director General, kersten@fiata.com

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A Twenty-five Year Partnership in Safeguarding Russian Freight

1807 TT Club 50th Anniversary Dinner in Moscow

TT Club and its partner in Russia, the CIS countries and Baltics, Panditrans celebrate both TT Club’s 50th anniversary and their twenty-five year partnership in providing a unique insurance and risk management service to the freight industry.  TT Club insureds, both within the territory and those trading with the region, have enjoyed tailored extensive cover and accurate trusted advice on the special characteristics of this particular transport environment.London, Moscow 10 July, 2018

There has been a steady increase in importance of the container to Russian trade that began some twenty-five years ago and it was then, in 1993, that Panditrans became TT Club’s representative in Russia.  At this time the Club wanted to have experts on the ground in what was, and remains, a rapidly changing freight transport environment serving one of the largest potential consumer markets in the world. 

Panditrans, with its offices in Moscow, Russia and Odessa, Ukraine, as well as contacts throughout the region, has been a perfect fit with TT Club, serving the mutual’s membership of shipping lines, port and terminal operators and freight forwarding and logistics companies.

The fact is that Russia presents a number of particular challenges to freight traffic.  Customs clearance errors in documentation can result in the confiscation of cargo, while uninsured subcontractors, and even fake ones, remains an on-going problem.  It still can be quite difficult to find a subcontractor with appropriate liability insurance with the result that freight forwarders hire uninsured carriers without clearly understanding that there is little chance of holding it liable for any loss as it has very little capital and few assets.

In addition, the sub-standard nature of the region’s road and rail infrastructure causes more incidents that damage cargo and transport asset than might be expected to occur in other parts of the world.

“It is this type of circumstance that is very particular to the Russian transport environment,” comments TT Club’s Regional Director for EMEA, Kevin King.  “This makes it essential to have indigenous, extensive expertise at the disposal of the Members.  I’m very pleased to say that Panditrans has, by partnering with the Club for the past twenty-five years, provided that expertise. I hope that TT Club Members will benefit from our partner’s guidance in a challenging political, economic and legislative environment for a long time to come.” 

During this quarter of a century TT Club and Panditrans together have become adept at advising Members of the potential pitfalls in transporting freight to, from and around Russia and therefore been able to assess risk comprehensively and advise on appropriate cover. 

Throughout this period Panditrans has handled in excess of 20,000 claims, benefiting TT Club Members with its in-house surveying, legal and customs expertise, together with its knowledge of the market to allow the identification of the most appropriate option to investigate and defend a claim.  Furthermore, Panditrans’ extensive contacts with insurance and regulatory inspectorates, customs authorities and law enforcement bodies throughout the territory, are unique, enabling the complete legal and ethical position to be established.

To mark TT Club’s 50th anniversary and the 25th anniversary of this successful partnership, TT Club and Panditrans held a celebratory dinner at the iconic Metropol Hotel in central Moscow in April. Over 150 guests attended and included some of the five hundred companies insured by TT Club in the region from Belarus, Ukraine, Lithuania, Latvia, Estonia and of course Russia.  An honoured guest was Vladimir Tian, the General Director of Sovtransavto, TT Club’s first and oldest Member that began its relationship with the Club in 1989.

TT Club was founded in 1968 by some of the early adopters of the unitisation of cargo, the container. From its inception, the Club has had a philosophy of listening to its Members and sharing their experiences to make the industry safer and to minimise risk whilst lobbying for and embracing change when and where it’s required. The Club has marked its 50th anniversary by issuing a report entitled ‘Brave new world? – Container transport in 2043’. This is a wide-ranging, qualitative report, produced jointly with McKinsey & Company, summarising the thoughts and opinions of industry leaders on what the future holds for the container industry.

Kirill Berezov, Managing Director of Panditrans commented, “We are proud of our long and successful history with TT Club.  Both the number and variety of our guests at the celebration is testimony to the standard of service Panditrans and TT Club together have provided to the market.  Senior figures from both global carriers and forwarders, as well as Russian transport companies, ports and rail and road operators have supported us.  Brokers also have shown their appreciation of our services for which we are grateful.”

ENDS

About TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the 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.

TT Club is managed by Thomas Miller.

www.ttclub.com

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