TT Club

Though not a robust deterrent to determined thieves the humble seal plays a central role in identifying location, method and often perpetrators of cargo theft. Freight insurance specialist TT Club argues for greater emphasis on the container seal as part of a stronger security culture across the supply chain

Loss due to theft is among the top three causes of claims received on an annual basis by the international freight and logistics insurance specialist, TT Club. Identification of trends, spikes and hot spots surrounding this aspect of supply chain crime is a primary function of the insurer, as is the issuing of guidance to help mitigate such losses. In the latest of its ongoing series of Security Bulletins, TT focusses on the crucial importance of the container seal, as a fundamental tool in assuring the integrity of global cargo transportation.

Despite the existence of a wide range of security seal types, from basic plastic clips through to the frequently used bolt seals, and now sophisticated  digital options, many in the supply chain are ignoring their benefits in maintaining cargo integrity and promptly identifying theft.

Thieves have devised complex strategies, as well as traditional bolt cutters, to access a container’s cargo undetected.  These include recruiting insiders and manipulating seal numbers, either manually or using 3D printing so almost identical seals can be affixed once the cargo is stolen.

“Whatever sealing regime is employed its effectiveness crucially depends on how the process is managed,” emphasises TT’s Logistics Risk Manager, Josh Finch. “It is important for supply chain managers to be aware of the limitations of the various seal designs but also appreciate that whatever seal type is employed, their efficacy hinges on whether the information from the seal is accurately checked. A security culture must pervade operations at both loading and unloading points, as well as other key handling locations.”

Often personnel at the receiving warehouse view the seal as a nuisance, something that needs to be cut from the doors prior to them opening the container and unpacking it. However, identifying any tampering with the seal can be vital insofar as liability is concerned, helping to pinpoint exactly how the theft occurred, who was involved and where goods were damaged or stolen. “Moreover such knowledge clearly acts as guidance in taking steps to avoid future incidents,” comments Finch.

A vital consideration in expanding the use of seals is that almost all are currently either single-use or have an element that is plastic. Clearly, promoting their widespread usage involves consideration of sustainability, especially as the industry focusses increasingly on environmental, social and governance (ESG) issues. Speaking of this limitation, Finch comments “While there are clearly environmental concerns with many container seal solutions, we cannot ignore the societal implications of allowing cargo theft to thrive in the industry. TT sees innovation in all areas of the transport and logistics industry, and we see great potential in digital seals that increasingly appear on the market.”

Gathered together in this Security Bulletin is TT’s own loss prevention advice together with collaborative work undertaken with other like-minded organisations in this space. From basic descriptions of seal specification, performance characteristics and benefits to new e-seal and tracking technology, and from details of criminals methodologies to guidance on best practice to combat theft, the Bulletin outlines the crucial role seals should play in operators’ security processes and culture. It can be accessed free of charge HERE

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, more secure, and more sustainable. Founded in 1968, the Club has more than 1500 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.

www.ttclub.com

Kevin King has been confirmed as Chief Executive Officer of the specialist transport and logistics insurer TT Club, completing a planned move announced last year.  Acting as Deputy CEO to Charles Fenton over the last year, King and Fenton have worked closely to complete a smooth and efficient transfer of responsibilities. He has officially taken up this position from 1^st August.

Originally based in the United States, King has long held positions within Thomas Miller managed businesses, and transferred to London in 2015 to lead the Europe, Middle East and Africa region at TT.  More recently he served as the insurer’s Chief Operating Officer.

Out-going CEO Charles Fenton, in confirming the move, said, “Kevin is well-positioned to lead TT into a challenging future.  His vast experience of the mutual insurance model, vision in harnessing new technologies and well-honed management skills will ensure TT continues to evolve in step with both global transport developments and a dynamic insurance market.  The TT main board and I have every confidence in his leadership abilities and I welcome him to his new role.”

Fenton himself will remain close to the business.  He has been Chairman of Thomas Miller Holdings since 2021 and will continue as a member of the TT Club Board and in the promotion of the Club internationally.

Kevin King is eager to help guide TT through the next phase of its 56-year history saying, “It has long been a privilege to work for, and now lead, a purpose driven organisation. The Club’s mission to make the global transport and logistics industry safer, more secure and more sustainable guides everything we do. We are well positioned financially, technologically and especially with our established expertise around the world to succeed both as an insurer and a positive force for change in the industry. I am grateful to Charles for his mentoring and leadership over my career, and thankful he will remain close to the business.”

ENDS

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, more secure, and more sustainable. Founded in 1968, the Club has more than 1500 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.

www.ttclub.com

The British International Freight Association (BIFA) used the latest episode in its 2024 webinar series to deliver some key advice on the subject of safety in the container shipping environment.

Keynote speaker at the webinar was Mike Yarwood, managing director of loss prevention at TT Club, a global leader in providing insurance and risk management services to the international transport and logistics industry. He was supported by Robert Windsor, BIFA’s member policy & compliance director, with responsibility for advice and information on maritime, road and dangerous goods, BIFA Standard Trading Conditions (STC), as well as legal and insurance matters.

With their extensive expertise, Yarwood and Windsor guided attendees through crucial safety practices in the maritime containerised supply chain.

The webinar covered three key areas, including the proper packing, transport, and unpacking of cargo transport units (CTUs) with attendees gaining insight into best practices to ensure the safe handling of freight containers, an often-overlooked aspect in maritime transport compared to air freight.

Furthermore, in addressing the management of hazardous cargoes, the webinar highlighted the dangers of non-declared and mis-declared hazardous cargoes and attendees gained insights into the initial checking of documentation, methods for identifying non-compliant freight; and some steps for regularising cargoes.

Additionally, understanding the importance of accurately weighing cargo to establish the Verified Gross Mass (VGM) of the container was addressed as well as its significance to ensuring safe and compliant shipping practices.

BIFA took the opportunity to emphasise the importance of incorporating its Standard Trading Conditions (STC) into contracts to maximise their protective benefits.

Commenting on the webinar, Windsor said: “There have been several widely reported container fires aboard ships, where containerised cargoes may have been the cause of, or contributed to such fires.

“BIFA believes that consistent, widespread and diligent adherence to the CTU Code by all parties within global CTU supply chains would significantly reduce these types of incidents, some of which have resulted in fatalities and serious injuries amongst ships’ crews and shore-side staff.

“Other occurrences, such as container stack failures, vehicle roll-overs, train derailments, internal cargo collapses and incidents of invasive pest contamination, can also be traced to poor packing practices.

“Through activities like this webinar, we hope to foster a greater awareness of the CTU Code and the packing practices and techniques it contains and help to reduce such incidents.”

Yarwood added: “Raising awareness of the myriad risks that permeate the global supply chain, via webinars such as this, is fundamental in influencing the adoption of better practices that will increase the safety, security and sustainability performance of operators. TT Club is grateful to BIFA for providing the platform and access to an engaged audience”.

ENDS

Notes to editors

Webinar attendees were encouraged to download the following guidance documents to maximise their learning experience:

• IMO/ILO/UNECE Code of Practice for Packing of CTU Code | UNECE
• Cargo Integrity Group – CTU Code: A Quick Guide | TT Club

About BIFA:

The British International Freight Association (BIFA) is the trade association for UK-registered companies engaged in international movement of freight by all modes of transport – air, road, rail, and sea. BIFA represents over 1,650 member companies in the logistics and supply chain management sector. www.bifa.org

About TT Club:

Established in 1968, TT Club is a leading provider of insurance and related risk management services to the international transport and logistics industry, with a mission to make the industry safer, more secure, and more sustainable through comprehensive loss prevention initiatives and expert advisory services, including specialist underwriting, claims management and risk and loss management advice. www.ttclub.com

Geneva, 11 July 2024 – FIATA International Federation of Freight Forwarders Associations and TT Club, the market-leading international freight transport insurer, are excited to unveil this year’s outstanding regional achievers of the Young Logistics Professionals (YLP) Award 2024.

The 2024 regional winners are:

• Region Africa and Middle East: Nompilo Zulu, SAAFF, South Africa
• Region Americas: Rashaad Francisco D’Gama Rose, CIFFA, Canada
• Region Asia-Pacific: Thach Thao Nguyen, VLA, Vietnam
• Region Europe: Laura Cristin Egerer, DSLV, Germany

FIATA and TT Club proudly announce the winners of this year’s Young Logistics Professionals (YLP) Award, congratulating the four regional champions who have showcased exceptional talent and dedication in the logistics industry. This prestigious competition highlights the profound knowledge and honed skills of young professionals, who represent the future of global logistics.

The YLP Award plays a vital role in nurturing and inspiring the next generation of logistics experts. This year’s submissions were particularly noteworthy, with dissertations that delved deep into the complexities of the global supply chain, offering innovative solutions and demonstrating a strong commitment to excellence.

FIATA and TT Club remain steadfast in their commitment to celebrating the dedication and dynamism of young professionals in the logistics sector. The competition provides invaluable experience and exposure, paving the way for these talented individuals to shape the industry’s future positively. This year, we are thrilled to explore the Region Americas, hosting the regional winners at the FIATA World Congress in Panama.

Panama, with its strategic location as a nexus between North and South America, is a pivotal player in global trade and logistics. The FIATA World Congress in Panama offers the regional winners a unique opportunity to immerse themselves in the heart of the freight forwarding community. They will gain firsthand insights into the Panamanian logistics industry, enhancing their understanding of global supply chains and exploring new opportunities for collaboration and growth.

By participating in this event, the YLP Award winners will not only further their careers but also contribute to the broader logistics community. FIATA and TT Club are honoured to support these young professionals and eagerly anticipate the innovative contributions they will bring to the industry.

We extend our deepest congratulations to the winners and look forward to celebrating their achievements at the FIATA World Congress in Panama.

About FIATA

FIATA International Federation of Freight Forwarders Associations is a nongovernmental, membership-based organisation representing freight forwarders in some 150 countries. FIATA’s membership is composed of 113 Associations Members and more than 5,500 Individual Members, overall representing an industry of 40,000 freight forwarding and logistics firms worldwide. Based in Geneva, FIATA is ‘the global voice of freight logistics’ www.fiata.org.

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. The Club’s services include specialist underwriting, claims management and risk and loss management advice, supported by a global office network. TT Club’s mission is to make the industry safer, more secure and more sustainable.  Established in 1968, TT Club currently services more than 1400 Members – container owners, operators, ports, terminals and logistics companies. Its membership covers the entire logistics journey, working across maritime, road, rail, and air ranging from some of the world’s largest logistics operators to smaller, bespoke companies managing similar risks. The Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. Its average annual customer retention rate is consistently over 95%, with some Members having chosen to insure with the Club for over 50 years. 

TT Club is managed by Thomas Miller – an independent and international provider of insurance, professional and investment services.  www.ttclub.com

Ivca Kaiserova, Senior Manager EMEA Security & Loss Prevention at Amazon, is the 2024 winner of the ‘Young Supply Chain Resilience Professional of the Year’ Award, co-sponsored by the Europe, Middle East & Africa (EMEA) region of the Transported Asset Protection Association (TAPA) and TT Club, the independent provider of mutual insurance and related risk management services to the international transport and logistics industry.

In its second year, the award aims to recognise the outstanding young talent excelling in the supply chain security industry and help to promote careers in the sector.

Entrants were asked to produce a 1,500word submission on an innovative cargo security or supply chain resilience initiative they have developed or contributed significantly to, including addressing new or emerging security threats to supply chains.

Ivca’s winning entry was based on her work on ‘The Predictive Threat-Based Design’ – a solution using data sources and other external intelligence data to minimise supply chains losses. The tool analyses all absorbed data and, using machine learning, monitors trends to predict which loads and lanes need to be categorised as A, B or C risks. These
respective categories of risks are then matched with a pre-defined security
package.

“The need for resilient supply chains has never been greater and to make this sustainable, our industry needs to attract new talent, recognise their capabilities, and nurture the next generation of leaders. We are living in a world where economic, geopolitical, health and environmental challenges continue to present unprecedented and diverse challenges. We are also working in a world where the risks to cargo security and supply chain resilience are at their highest level for a generation. Through this award, we can identify people who are rising to these challenges and who are contributing to innovative solutions to tackle these risks, which also include the growing threat posed by organised crime groups,” said Thorsten Neumann, President & CEO of TAPA EMEA.

Josh Finch, Logistics Risk Manager, TT Club, added: “We congratulate Ivca on her great achievement. TT Club is proud to support TAPA EMEA in sponsoring this award. The entries demonstrated a vast array of innovative ideas and methods of ensuring supply chain resilience, all of which are to be commended. For TT, it is vital to celebrate young talent in the industry and we want to make sure that these individuals have the resources and encouragement to innovate, collaborate, and strive for ever greater levels of security throughout the supply chain sector.”

The application process for the 2025 ‘Young Supply Chain Resilience Professional of the Year’ Award will open at the end of Q1 next year.

About TAPA EMEA
TAPA EMEA was formed in 2000 to tackle the multi-billion euro problem of cargo thefts from supply chains. Today, it boasts over 900 member companies in the Europe, Middle East & Africa (EMEA) region, including many of the world’s biggest manufacturers and logistics service providers as well as leading SME freight forwarding and transport operators, insurers, law enforcement agencies, security service providers, and other stakeholders. TAPA EMEA is working to minimise cargo losses and increase supply chain resilience by helping its member companies top understand and manage risks.

TAPA EMEA achieves this through the development and application of its global supply chain Security Standards, collating and sharing of cargo crime incident intelligence, training, networking and through its support of, and collaboration with law enforcement agencies, governmental and regulatory bodies. For more information go to www.tapaemea.org

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. The Club’s services include specialist underwriting, claims management and risk and loss management advice, supported by a global office network. TT Club’s mission is to make the industry safer, more secure and more sustainable. Established in 1968, TT Club currently services more than 1400 Members – container owners, operators, ports, terminals and logistics companies. Its membership covers the entire logistics journey, working across maritime, road, rail, and air ranging from some of the world’s largest logistics operators to smaller, bespoke companies managing similar risks. The Club is renowned for its high-quality service, in-depth industry knowledge and enduring Member loyalty. Its average annual customer retention rate is consistently over 95%, with some Members having chosen to insure with the Club for over 50 years.

TT Club is managed by Thomas Miller – an independent and international provider of insurance, professional and
investment services.
www.ttclub.com

TT Club, the specialist liability insurance provider to the international freight and logistics industry, announces three new Members drawn from its membership of insured organisations to its controlling Board.

Rome & London, 27^th June 2024

As a mutual organisation TT Club’s Board, Through Transport Mutual Insurance Association Limited (Bermuda), abbreviated to TTB is made up of representatives of those it insures. The three new non-executive Board Members announced at the TTB’s meeting in Rome this week represent the broad spectrum from freight, logistics, cargo handling and intermodal container operators from around the world.

Nosiphesihle Mbongwa is based in Durban, South Africa and has been CFO of Bidvest Freight for the last six years having previously served the freight management and logistics group for 10 years as its Commercial Director and prior to that a financial director role at one of its subsidiary companies. Her career in the freight industry spans over 20 years with both distribution operations and a container terminal operator. She joins the TTB Board as of 20 June.

Wendy Chien’s appointment dates from March of this year. As Managing Director of Contract Logistics at the Dimerco Express Group in Taipei, Taiwan. She brings experience of a pan Asia-Pacific complete logistics, warehousing and distribution operation which employs multi-modal transport options.

Frans Caljé is CEO of PD Ports centred in Teesside in the Northeast of England. He manages one of the largest ports in the United Kingdom, which is well known for its expertise in port centric logistics, linking berth side handling of all types of cargo with ongoing delivery via the storage and distribution processes involving the use of all modes of transportation. Prior to his appointment as CEO seven years ago, he was MD of Unitised & Port Centric Logistics at the same organisation. He also has experience at container terminal operator APM. His appointment to the Board is effective 20 June.

TT’s CEO Charles Fenton commented on the new appointments to the TTB Board, “Our Board of Directors represents those organisations that we insure. They characterise every type of operator among our membership and come from every region of the world. Indeed, our structure means that every Member can input into the key decisions we make about the types of risk we underwrite and our strategic direction,” he said. “Appointments to the Board are recommended to the membership, who have voting rights, by the Nominations Committee, which seeks to increase gender and ethnic diversity in the Board, mirroring as closely as possible the underlying membership of TT Club. I’m pleased that our commitment to this diversity continues to be represented in TT’s governance.”

As a mutual TT does not have to concentrate on returning a profit for shareholders. Surplus funds fuel reserves that secure support for TT’s insured year after year. In particular, that support comes from TT’s loss prevention and risk management efforts, through investment in research to shine a light on the future of the logistics industry in order to respond to its Members’ needs and challenges. The elected Board of Member Directors plays a crucial role in guiding and overseeing this investment.

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 1200 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. www.ttclub.com

TT Club, the specialist liability insurance provider to the international freight and logistics industry, claims focus on a much overlooked aspect of supply chain operations can significantly reduce risk. Systemic stockholding, order flow and other inventory management processes need to be effectively controlled. 

London, 28^th May 2024

Utilising analysis of past claims relating to cargo theft within the warehousing and distribution arena in particular, TT has concluded that risks to goods escalate in environments characterised by confusion and disorganisation. Adherence to systematic processes is therefore paramount. Inventory management is so central that it defines the very system by which this effective organisation is maintained.

“A failure to exercise such systematic control can have enormous risk consequences for security, reputation and contractual liabilities,” says TT’s Josh Finch. “Inventory management is an aspect of the supply chain that often runs quietly in the background until something goes wrong. Small issues can quickly turn into large and costly errors if they are not observed and rectified.”

TT acknowledges that data communication and the traceability of goods are key to sound inventory management and the mitigation of errors. The data interfaces between various software systems that are employed to manage the flow of goods including WMS, OMS, TMS and ERP* should ensure that actions taken in one system are recorded in the others.  Breakdowns in communication between systems can be difficult to identify but may lead to costly errors.

In minimising such errors, traceability throughout the supply chain is crucial in uncovering the discrepancies promptly. The ultimate goal is to provide full visibility of goods as they move through the supply chain. A well-designed system should systemically mirror all physical movements of goods and be particularly focused on circumstances where visibility and therefore traceability break down. Most commonly this occurs when a user fails to adhere to the correct process, but operations should also consider where gaps in process lead to a breakdown in traceability.

“Stock that is not traceable is at risk,” explains Finch. “It may be stolen or may simply go missing, making it difficult to determine where the failure has occurred. It is crucial therefore that supply chain operators responsible for managing inventory seek to maximise traceability throughout the entire journey of a particular item of stock.”  The consequences of inadequate inventory management can be severe, extending beyond the cost of cargo loss to risks of negatively impacting commercial relationships. Inventory management plays a key role in fostering a security culture within the supply chain. It should enforce procedures, maintain traceability and respond to discrepancies effectively, resulting in a secure and efficient supply chain operation.

More detailed insight into effective inventory management can be found Here

*WMS – Warehouse Management System

OMS – Order Management System

TMS – Transport Management System

ERP – Enterprise Resource Planning

ENDS

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 1200 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. www.ttclub.com