TT Club

Prompted by the recent spate of container ship fires, international freight and logistics insurance provider TT Club has stressed the greater need for all players in the global supply chain to recognise their responsibility for accurate and effective communication between all parties for the transport of dangerous goods.

The occurrence of four major incidents aboard container ships, two in port and another two at sea within the last four months has prompted TT to reiterate its long standing fervent message for shippers and those facilitating the supply chain to be more diligent over how their cargoes are classified, packaged, packed, declared and handled.

The sad list of both explosions and fires extends from ‘Northern Juvenile’ in the South China Sea in May, to ‘Maersk Frankfurt’ in the Indian Ocean to more recent incidents in quick succession, which involved ‘MSC Cape Town III’ in Colombo and ‘YM Mobility’ in Ningbo.  “The causes remain under investigation,” says TT’s Peregrine Storrs-Fox. “However, there are strong indications that potentially explosive chemicals and fire accelerators, such as lithium-ion batteries, may be involved in at least two of the cases.  As with historic incidents, it is likely that various errors occurred as the shipments were initiated and the exact nature of the cargoes was communicated to supply chain counterparties, giving rise again to ‘perfect storms’.  Every participant in the process needs to act in the best interests of safety at every point in these cargoes’ journeys.”

This spike in serious container ship fires is reminiscent of the spate in 2019, although the 30 year average frequency may remain one every 60 days – but any life-threatening event is one too many. Of the recent four, unusually two took place while the ship was berthed and shore-side emergency services responded quickly to minimise damage and loss of life – although pollution and potential berth blockage risks emerged.  When incidents occur at sea much more serious consequences can develop, as exemplified by ‘Maersk Frankfurt’, where one crewman lost his life, the fire burnt for several days and the ship remains with salvors at sea.

The exact number of containers carrying dangerous goods that are shipped annually is difficult to estimate due to mis- and non-declaration. Partly in response to the issues around inaccurate declaration, the IMO amended the ‘Guidelines for the implementation of the inspection programmes for cargo transport units’^[1] in 2022 to urge governments to inspect all types of unit, regardless of the declared cargo. The recently released consolidated results, from just eight countries (or 5% of the signatory states), for 2023 evidence continuing safety concerns.

Although, from the minute sample size of about 0.03% of containerised traffic, ‘placarding and marking’ shows some improvement, this deficiency, being for first visual alert for many stakeholders and particularly emergency responders, remains stubbornly above 40%. Further, reports noting deficiencies in ‘Stowage and Securing’ (within units) – a core CTU Code issue – indicates a rapidly worsening trend over the last five years and the worst position since reports began in 2001. Also of note is the five year worsening trend relating to errors found in documentation, another key risk indicator. Care of every shipment requires good communication along the supply chain, due diligence undertaken by every player and a culture of ‘know your customer and operating partner’.

“In this regard, we applaud the recent statement by China’s Maritime Safety Administration (MSA) that underlined shippers’ responsibilities, in addition to those of the carriers’^[2]. Such warnings and encouragements by regulatory authorities are to be welcomed. However, TT would reiterate the statement that regulations merely set the baseline,” concluded TT’s Storrs-Fox

ENDS

^[1] MSC.1/Circ.1649

² Quote from the MSA statement as per a translation provided by Lloyd’s List.

Shippers are required to take safety measures including proper packaging and temperature control, and promptly notify carriers of correct dangerous goods names, quantities, hazards, emergency temperatures (if needed), and emergency response measures.

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

[1] MSC.1/Circ.1649

[2] Quote from the MSA statement as per a translation provided by Lloyd’s List.

Shippers are required to take safety measures including proper packaging and temperature control, and promptly notify carriers of correct dangerous goods names, quantities, hazards, emergency temperatures (if needed), and emergency response measures.

While the volumes of containers lost at sea fluctuates year on year, typically influenced by the more severe of weather conditions, the challenge is persistent.  International freight insurer TT Club stands with the container industry in seeking to preclude these losses.

Understanding the circumstances that lead to stack collapse and losses overboard incidents is of course vital in mitigating the risk. TT applauds the World Shipping Council initiative to publish the details of the annual survey^[1] into container loss and recognises the lowest level of recorded losses during 2023, including the important fact that around 33% of units initially lost are subsequently recovered.

Nevertheless, TT’s own analysis of historic incidents clearly shows that weather is the single most influential factor. Furthermore, the data demonstrate that this is far more complex a challenge, involving a wide range of interconnected operations.

“In this context TT has been involved from conception with the MARIN^[2] TopTier Joint Industry Project,” emphasises TT’s Peregrine Storrs-Fox.  “This on-going project has drawn together over forty industry and governmental stakeholders in identifying and resolving the circumstances that lead to such incidents. It has already delivered important guidance relating to mitigating parametric roll risks and the Club will continue to be involved in the debates, particularly at the IMO, following the finalisation of the research.”

While focus is, not wholly unreasonably, mostly on ship operations, TT has long recognised that all participants in the freight supply chain carry responsibility. When the transport order is initially placed the accuracy of the verified gross mass (VGM) is pivotal, as is the correct load distribution and securing when packing cargo into the container. Consequently, TT’s cargo integrity campaign remains central to its work[, alongside partners in the Cargo Integrity Group].

At the ship/port interface, the terminal operating system (TOS) must support the appropriate stowage on board the ship, alongside stow planning software.  These systems need to plan heavier containers lower in any given deck stack.  Storrs-Fox comments, “TopTier studies have identified discrepancies up to 20% between planned stow versus the actual final stow on board. If representative of all operations, this is itself alarming.”

As to environmental factors, TT’s analyses identified potential commonalities across several incidents.  Wave height was amongst the more obvious attributes, but wave length and period appeared to be of even greater importance. Indeed, it was recognised that wave period is responsible for resonant phenomena, such as parametric roll and synchronous rolling, that can give rise to stow collapses and losses overboard.

Through its Innovation in Safety award, TT has also been searching for developing technological solutions.  The two complementary digital and engineering solutions, both developed by Trendsetter Vulcan Offshore (TVO), apply well-established systems from the offshore industry, firstly to enhance monitoring capabilities, predicting and detecting parametric roll, and secondly fundamentally re-imagine lashing systems to reduce container motion and control the dynamics of container stacks.

Conventional wisdom remains that heavy storms should be avoided where possible to minimise the risk of container loss. Re-routing away from the Red Sea this year has exposed many voyages to extreme weather off southern Africa. Nevertheless, deployment of innovative technology can assist in building greater safety margins, including leveraging data capture to improve understanding and predictions of changing sea conditions.

“Ships will never be able to avoid the impact of heavy seas entirely,” concludes Storrs-Fox.  “Consequently TT, in furtherance of its mission to make the global logistics industry safer, more secure and more sustainable, continues with its efforts on this issue and urges industry colleagues to do likewise.” 

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. 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

[1] https://www.worldshipping.org/news/world-shipping-council-releases-containers-lost-at-sea-report-2024-update

[2] Marine Research Institute Netherlands

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