TT Club

8 July 2013

International transport insurance provider, TT Club, has sponsored the FIATA Young International Freight Forwarder of the Year Award since its beginnings in 1999. It continues to support the programme and it aims to identify, recognise and encourage young talent throughout the industry.

This year’s entries have been of a particularly high standard and it has not been easy for the judges to make their decision. However, after much consideration of the many excellent competing dissertations on subjects as varied as shipment of large project cargo, movement of sections of a football stadium and shipment of wine, they have selected four regional finalists.

The finalists will travel to Singapore this October for the FIATA World Congress to receive their regional prizes of certificates and trophies, and to make final individual presentations to the Steering Committee to decide who will be the overall winner of the prestigious International Award.

This prize includes a week’s training at one of TT Club’s regional centres in London, Hong Kong or New Jersey, as well as attendance on the Thomas Miller “Insight into Transport Law and Insurance” course in London, in which TT Club is closely involved.  They will also receive a subscription to one of the industry’s leading media information sources, International Transport Journal (ITJ/ITZ).

As Chairman of the Steering Committee, Andrew Kemp, TT Club’s European Regional Director, commented, “We promote professional training at every opportunity and are therefore proud to support FIATA’s initiative. TT Club is firmly committed to encouraging best practice in all aspects of freight transport.  Our risk management and loss prevention resources are continually aimed at informing forwarders, carriers, cargo handlers and transport operators of best practice in stowage, documentation, safety, security and many other aspects of the business.”

The 2013 Regional Winners are:
Africa/Middle East: Mr Mohamed Samy, Egypt

Americas: Mr Kaloyan Petrov, Canada

Asia-Pacific:  Mr Prabhjot Singh, India

Europe: Miss Janna Marie van Burgeler, Germany

Documentation for the 2014 Award will be distributed to FIATA Association members towards the end of August 2013 with the usual deadline for nominating candidates of 15 January 2014.
ENDS

Note to Editors:

For further information please contact:

Emma Chalmers, Marketing Director, TT Club
Tel: +44 (0)20 7204 2635
E-mail: emma.chalmers@thomasmiller.com   www.ttclub.com

London & Hong Kong, 3^rd July 2013

In a move designed to further enhance its service to its Members TT Club, the specialist insurer for the international transport and logistics industry, has appointed a network partner in India.  Pandi Correspondents (Mumbai) Pvt Limited, which has offices in Chennai, Kolkata and Goa in addition to Mumbai will be integrated into TT Club’s claims IT system and has been delegated claims handling authority.

Phillip Emmanuel is the leader of the Club’s operations in Asia-Pacific based in Hong Kong.   “One of TT Club’s strongest attributes is its global claims service.  As a mutual we are dedicated to handling our Members’ claims in the most comprehensive and effective manner possible.  Our Members’ operations touch every part of the world and as such our service must be truly international.  The elevation of Pandi to the status of a network partner will significantly enhance this service in the crucial Indian market,” he said.

TT Club has long recognised the vast opportunities in India. The continuing emergence of the Indian economy, the growth of its population, the rise in imports and exports, and the significant amount of infrastructure investment all indicate the country’s significance to the Club’s future market development.  “Trade to and from India, and its associated complexities, will inevitably increase. Therefore, we have been looking for ways to serve our membership and the Indian market better,” commented Emmanuel.

Pandi Correspondents have handled local claims for the Club in India since 1994, so the experience accrued by its staff is considerable.  The success of this arrangement has been such that Pandi’s new status as network partner will be of great advantage to the Club and its Members.

ENDS

About TT Club:

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

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

www.ttclub.com

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

London 19^th June, 2013

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

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

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

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

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

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

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

ENDS

About TT Club:

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

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

www.ttclub.com

London and Darlington, UK, 28 May 2013

It is no surprise that the correct packing of containers is high on the agenda for industry bodies, regulators and insurers, as the consequences of unsafe and badly secured cargo are serious. In fact of all freight transport insurer TT Club’s claims, some 65% feature cargo loss or damage and of these over one-third result from poor packing.  Higher levels of training to maintain and improve the expertise of those employed by shippers, consolidators, warehouses and depots to pack containers is now a primary objective of a number of current industry initiatives.

It is timely therefore that TT Club and Exis Technologies have come together to develop CTUpack e-learning™, an online training tool for those involved in the loading and unloading of containers or Cargo Transport Units.  By exhibiting at TOC Europe in Rotterdam (25^th–27^th June) both organisations hope to further focus industry attention on the significant and dangerous implications of bad packing and the training required to address the problem.

Designed and produced by Exis Technologies on the initiative of TT Club, and with its financial investment, the CTUpack e-learning™ course is aligned with IMO/ILO/UN ECE* guidelines for packing containers.  Beginning with the foundation course, which will be launched later this year, it will comprise modules that include topics such as cargo or transport and elements that are the equivalent of lessons, covering areas like forces and stresses.

In the future the course will evolve to reflect developments and updates to the ILO guidelines and there is a capacity for additional modules to incorporate cargo specific and more advanced training elements.

The CTUpack e-learning™ foundation course will be available for the web or intranet, in both cases providing administrator functions for setting up and monitoring students’ records. There will also be a SCORM** compliant version for use within standard learning management systems.

Peregrine Storrs-Fox, TT Club’s Risk Management Director, commented “CTUpack e-learning™ follows the well established IMDG Code e-learning training course from Exis, which is also sponsored by TT Club.  Both courses are relevant to the risk management approach that the Club has always fostered within the global freight transport community.   As in other operational sectors of the industry, training is clearly the number one loss prevention measure and, if adopted as a core feature of an operator’s culture, can greatly reduce the number of claims that we see each year”.

* International Labour Organisation/International Maritime Organisation/United Nations Economic Commission for Europe

**The internationally recognised collection of standards and specifications for web-based e-learning

– Ends – 

Note for TOC Europe Attendees:

‘Challenge Your Skills’ at Stand #E100 

There will be a intriguing and educational challenge at TT Club/Exis Technoloies stand at TOC Europe.  The Container Packing Challenge – 16 pieces including drums and blocks with technical twists such as ‘fragile’ or ‘this way up’ and weights applied to every block.

A prize will be available every day of TOC for the fastest correctly packed container!

www.tocevents-europe.com

About TT Club:

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

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

www.ttclub.com 

About Exis Technologies:

Exis Technologies, headquartered in Darlington, UK, is the leading supplier of computerized systems for the management of dangerous goods in sea transport.  For over 25 years major container shipping lines, ports and shippers have been relying on Hazcheck Systems for regulatory compliance, efficiency and safety in their global operations. They serve 80% of the top container lines.

Exis Technologies also develops e-learning courses.  IMDG Code e-learning is a cost-effective training solution for shore side staff that has been implemented by half of the top 20 container lines as well as shippers and logistics operations worldwide. CTUpack e-learning is the latest addition to their training courses.

www.existec.com/solutions.aspx

16 May 2013, London:

Specialist liability insurer for the international transport and logistics industry, TT Club has announced another good performance for the year ended 31 December 2012, with further increased gross written premiums, and the Club now maintaining its A- (Excellent) rating for the past eight years.

In a statement today, US rating agency, A M Best has re-affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” of Through Transport Mutual Insurance Association Limited (TTB) (Bermuda) and its subsidiary, TT Club Mutual Insurance Limited (TTI) (United Kingdom) collectively trading as TT Club.

“The outlook for both ratings remains stable. The ratings of TTI reflect the integral part it plays in TT Club’s strategy, as well as the extensive reinsurance protection provided by TTB, which is expected to maintain excellent consolidated risk-adjusted capitalisation in 2013,” the agency said.

A M Best also noted in its statement on the TT Club:

“Its business profile is supported by a superior service standard, which underpins a high policyholder retention rate of roughly 95%, and by its active involvement in loss prevention and risk management within the industry.”

The TT Club’s gross written premium for 2012 increased to US$182.3M and the Club’s combined ratio – the key measure of the health of its operating performance – reduced to 96.3%.

Knud Pontoppidan, Chairman of the TT Club

Knud Pontoppidan, Chairman of the TT Club, commented:

“We are becoming used to very low or decreasing growth levels across the world and that is impacting global trade and as a result all our businesses. Unfortunately 2013 does not appear likely to break this pattern. In spite of these challenging global economic conditions the Club has maintained a stable financial platform in 2012 from which to deliver our core product and value adding services.”

The A M Best statement also noted that, “in 2013 TTB is expected to produce a combined ratio of roughly 100%. Investment income is likely to be modest but positive, reflecting a conservative investment portfolio and the low interest rate environment.”

“As a mutual, the club is not pressured to generate high returns, however, TTB is expected to continue to produce small pre-tax profits in most years, in line with its performance record since 2008,” the agency concluded.

The key highlights for the TT Club during 2012 were as follows:

* Combined ratio (total claims and expenses divided by net earned premiums) improved to 96.3% from 99.6% in 2011.

* Member retention remains high confirming the continuing strong service ethos within the Club

* Investment return is up to 1.5% from 0.8% in 2011. The Club’s investment portfolio remains low risk, being primarily invested in cash and short term bonds, and it is over 10 years since the Club made a realised investment loss.

* Net result is a surplus of US$4.2M, a 238% increase on 2011.

* Surplus and reserves increased by 2.9% to US$149.7M.

* Very strong capital position, equivalent at A++, the highest rating on the A M Best capital adequacy model.

Charles Fenton, Chief Executive of the TT Club

Charles Fenton, Chief Executive of the TT Club, commented on the results and the A M Best statement:

“As we approach our 45th year of trading next month, we have recently formalised a new brand positioning of “established expertise” and I am delighted that our results and the A M Best ratings fully reflect and support the position we have reached over the years, with continuing positive results in 2012 demonstrated by increased gross written premiums, high policyholder retention, reduced combined ratio and a stronger capital position.”

“The TT Club has always sought to deliver expert insurance solutions and assistance to its Members and supporting brokers through superior underwriting, claims, risk management and loss prevention services, and it is pleasing that an independent and well respected rating agency continues to recognise the stable financial position and performance that underpins all our aspirations,” he added.

The TT Club suffered two major losses during 2012, Superstorm Sandy and the fire and explosions on ‘MSC Flaminia’, whilst these claims are significant they have not impacted negatively on the results for the year, with the performance of the overall claims book remaining within expectations.

ENDS

Notes to Editors:

TT Club’s detailed financial results for the year-end 31 December 2012 are available on the TT Club website – www.ttclub.com

TT Club financial year on year figures: 2012 (2011)

· Gross written premium: US$182.3M (US$181.7M)

· Combined ratio: 96.3% (99.6%)

· Investment return: 1.5% (0.8%)

· Net result: US$4.2M (US$1.2M)

· Total surplus and reserves: US$149.7M (US$145.4M)

About TT Club

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

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

Chairman’s Review

The full statement from the Chairman is available from TT Club’s website.  www.ttclub.com

11 February 2013

Leading insurance specialist in the global freight industry, TT Club reports that innovation in the logistics sector is on the rise.  The insurer, which provides cargo, property and liability cover to freight forwarders and logistics companies, observes that the adoption of technological capabilities and tailored supply chain processes is proliferating.

A long-term supporter of the British International Freight Association (BIFA) Awards, TT Club sponsored the 2012 European Logistics Award.  TT Club’s Development Director for UK and Ireland, Brian Sullivan was part of the judging panel that employed a stringent vetting process to find the winner, Delamode International Logistics.  The award was presented by Sullivan at a ceremony in London last month.

This experience, along with the Club’s detailed knowledge of its customers’ supply chain services, has convinced Sullivan of the current proliferation of innovation in the sector and a trend away from rate-driven commoditisation.  “Many in the freight transport industry feel that pressure on rates from customers has shorn the operator of the necessary resource to deliver the added-value elements that distinguishes logistics from the straightforward  ‘A to B’ transportation of freight.  As a result of my own and the Club’s experience, I would contest this view,” comments Sullivan.

TT Club is certainly seeing more extensive services being provided by its customers.  Many companies that in the past offered traditional freight forwarding now take on a much higher degree of supply chain risk and sustain greater liability by providing increasingly complex and sophisticated services.

The trend is however seen as positive.  The increased complexity of service offerings and the ingenuity of operators in designing alternative supply chain solutions is enabling the mid-sized, regional-based supplier to compete with their larger multi-national colleagues.  In acknowledging the success of award-winner Delamode, Sullivan points to a good example of this trend, “By re-engineering  supply chains  from Eastern Europe to the UK, Delamode allowed garment manufacturers to compete on price and service with low cost manufacturers from Asia.  Moreover, their successful service and pricing levels allowed small volume customers access to their service.”

TT Club recognises the need to support and reward quality innovation in the industry and has been a sponsor of the BIFA awards since their inception nearly twenty years ago.  By the very nature of the insurance services it provides, the Club is at the heart of the supply chain industry and consequently, is able to monitor the dynamic trends that are always at play as logistics operators strive to improve their service offerings to meet market demands.

19th December 2012

As a response to concerns arising from the volume of incidents and problems that regularly disrupt operations and endanger lives, property or the environment, five of the top 20 liner operators created CINS (Cargo Incident Notification System) in late 2010 in order to capture key data. The founding five have now been joined by a further five and, together, have been populating the database – hosted by the COA (Container Owners’ Association) – since launch in September 2011. Participants in CINS now accounts for 52% of container slot capacity (source Alphaliner).

CINS facilitates the capture by liner operators of structured key causal information relating to cargo and container incidents. The information capture explicitly excludes any shipper data in order to preclude an anti-trust concerns; the CINS Organisation is committed to comply with the US Sherman Act, Article 101 and 102 of EU treaty and any other similar competition law. The information gathered provides an early warning of worrying trends, whether relating to cargoes that display dangerous characteristics, but have not yet been recognised as such in the IMDG Code, or continuing or emerging unsafe practices in the unit load industry. At the heart of this initiative is a quest for quality – both in terms of pure service delivery, ensuring the cargo arrives in sound condition on time, and also improving the way in which all parties in the supply chain carry out their obligations and communicate.

The incident data captured since launch is now lending weight to – and to some extent challenging assumptions from – the anecdotal evidence from previous years. The records include the nature of the cargo concerned and its packaging, together with details of the routing, and then information on the type of incident and the root cause. The TT Club, as a key insurer for the transport industry, and advisory members of the CINS committee, undertook analysis of the data on behalf of CINS.

While the greatest potential to drive improvements in safety through the supply chain rests in the root cause analysis, a sobering finding has been that a third of the incidents arose from cargoes loaded in Europe and North America (see Chart 1), where packing controls might be considered to be more mature. In part the finding may provide an insight into the nature of trade and the length of the supply chain ‘hinterland’.

Given that the records are initiated by incidents – the presenting problem – it may be unremarkable that more than two thirds of the substances involved are dangerous goods. However, the significance of this becomes clear when looking at the type of incident that is incurred (see Chart 2), where half relate to leakage and a further fifth are mis-declared. Thankfully, only 8% of the incidents by number involve fire or explosion, but clearly the consequences then are far more serious.

In line with the aspirations of CINS to pinpoint what can be done to make the supply chain safer, the analysis of root cause is particularly important (see Chart 3). The whole transport industry is currently exercised on the subject of packing cargo, and the evidence for this is prominent in these records. Half the incidents were found to result from packing issues. This is especially telling when the database reveals that more than a third of the incidents with packing issues involve corrosive cargoes, which by their nature will react with other substances. In fact, when it comes to packing issues, 80% of the records involve dangerous goods.

A further key finding – and chilling for all liner carriers – is that it was found that 21% of the cases involved mis-declaration of the cargo, mostly dangerous goods. This is probably the first time that this ‘iceberg’ risk has been quantified. As investigators continue to sift for evidence on board ‘MSC Flaminia’, the fears of the liner industry that the nature of cargo carried is largely unknown are here shown to be reasonable. It is findings like this that display the potential for the CINS Organisation to have cogent dialogue with enforcement agencies, Competent Authorities and the IMO in order to lead to and support relevant changes in legislation or other safe practice recommendations.

The CINS Organisation is delighted that in its first operational year the statistics are demonstrating so clearly the known problems in the industry. There is now a strong case also to seek broader industry involvement, in order to increase the awareness of areas of concern and trends in containerised shipping, and continue to improve safety in the supply chain. At this key moment in the development of CINS, Reinhard Schwede of Hapag-Lloyd assumes the chairmanship, in a planned two year rotation, from Dirk Vande Velde of MSC, who continues to be actively involved in the project as one of the founding participants.

ENDS

For further details please contact:

Reinhard Schwede

Hapag-Lloyd AG

Cargo Service/ Dangerous Goods
Ballindamm 25
20095 Hamburg
Germany
Phone  +49 40 3001-3644
Fax      +49 40 3001-3830
Reinhard.Schwede@hlag.com
www.hapag-lloyd.com

The Award, sponsored by TT Club, the leading provider of international freight transport insurance, has been won this year by Daniel Terbille of South Africa.

22 October, 2012

Daniel Terbille, one of four regional finalists who presented their papers to the judges at FIATA’s Annual Conference, received his award from TT Club’s EMEA Regional Director, Andrew Kemp. “It was a difficult decision to pick an overall winner” said Kemp “however Daniel prevailed and deservedly takes this year’s award”.

The award is presented in recognition of forwarding excellence and was established by FIATA with the support of TT Club to encourage the development of quality training in the industry and to reward young talent with additional valuable training opportunities. The TT Club has been a sponsor of the award since its inception and is firmly committed to the importance of individual training and development within the global freight forwarding community.

The Award Steering Committee strives to make the challenge appealing to a greater number of candidates and allow them to call on their day-to-day experiences when working for a range of organisations, whether it’s a small customs agent or a multi-national operator.

This year’s candidates were set the task of examining the multimodal movement of a key import or export relevant to their country of operation.  Extra marks were awarded based on the complexity of the cargo matter, mode of transport, routing, regulatory issues faced, plus any cross-border issues such as customs regulations and/or bonds involved.

The four regional winning dissertations produced concerned diverse cargoes such as glass fibre mesh machines; concrete beams; electrical test and calibration units; 39 kilometres of coated carbon steel pipes; pressure valves and oversize heavy machinery as well as fabric and finished high-fashion clothing.

In addition to Daniel, who represents FIATA’s Africa and Middle East region, the other finalists were: Salman Ali (Canada) representing the Americas, Chris Yabsley (Australia) from the Asia Pacific region, and Nadine Baumgarten (Germany) representing Europe,.

Speaking at the award ceremony, TT Club’s Andrew Kemp, said, “We are proud to have been able to continue our sponsorship of this prestigious award, now in its fourteenth year. This year’s awards proved to be the most successful so far in terms of attracting candidates from across the globe. The calibre of the dissertations and presentations were of the usual exceptional standard and it was clear that a lot of research, planning and hard work had gone into their preparation.”

ENDS

Note to Editors:
The 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.

Caption:  (l-r)  Ivan Liptuga, FIATA Vice Presidents,  Daniel Terbille, Winner of the Young International Freight Forwarder of the Year Award, and Andrew Kemp, EMEA Regional Director, TT Club