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Broad Industry Coalition provides guidance for the smooth implementation of Container Weighing Regulations

June 27, 2016 by

27th June 2016

Today, the World Shipping Council (WSC), the TT Club, the International Cargo Handling Coordination Association (ICHCA), and the Global Shippers’ Forum (GSF) jointly released a second Frequently Asked Questions (FAQ) document designed to support the smooth implementation of the container weighing regulations that take effect globally on 1 July 2016. The amendments to SOLAS (International Convention for the Safety of Life at Sea) require packed shipping containers to have a verified gross mass (VGM) before they can be loaded on a ship for export.

Like the initial joint industry FAQ document, published last December, these new supplementary FAQs are based on actual questions from affected stakeholders regarding proper implementation of the new regulations.  The supplementary FAQs include new questions and answers as well as expanded answers to some of the questions listed in the December FAQs.  As such, these FAQs do not introduce new interpretations or approaches, but seek to provide further assistance in explaining the SOLAS VGM requirements by building on existing guidance material.

Some of the supplementary FAQs explain in more detail how the SOLAS container verified gross mass requirements should be fulfilled in various circumstances as described in questions received from supply chain parties.  Other supplementary FAQs are intended to give additional information regarding the two methods that may be used under the SOLAS VGM requirements to obtain the verified gross mass of a packed container.

Stakeholders are urged to continue to approach any of our collaborating organizations with additional questions that may arise after the enforcement date of the regulation on 1 July. Contact details of subject-matter experts from each of the organizations can be found at the end of the FAQs document.

Container safety is a shared responsibility, and all parties have an interest in improving the safety of ships, their crews and others throughout the containerized supply chain while reducing the risk of damages to cargo.

The FAQs document can be accessed here:

http://www.ttclub.com/loss-prevention/container-weighing/tt-club-briefings/

 

ABOUT MEMBERS OF THE INDUSTRY COALITION:

The World Shipping Council (WSC) represents the global liner industry on regulatory, environmental, safety and security policy issues.  The WSC has observer status at the IMO and was actively involved in the development of the SOLAS container gross mass verification requirements. More information is available at: www.worldshipping.org.

The TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. The TT Club participated throughout the IMO consultation process leading to the amendment of SOLAS and the related implementation guidelines. More information is available at: www.ttclub.com.

The International Cargo Handling Coordination Association (ICHCA) is an independent, not-for-profit organization dedicated to improving the safety, security, sustainability, productivity and efficiency of cargo handling and goods movement by all modes and through all phases of national and international supply chains. ICHCA actively participated in the debates leading to these SOLAS amendments. More information is available at:  http://ichca.com

The Global Shippers’ Forum (GSF) is the world’s leading global trade association representing shippers engaged in international trade moving goods by all modes of transport. GSF was actively involved in the debates at the IMO leading to these SOLAS amendments. More information is available at: www.globalshippersforum.com

Filed Under: TT Club

New Director Elected at American Club

June 27, 2016 by

NEW YORK, JUNE 27, 2016:

At the Annual Meeting of the Members which took place in New York on June 23, Panagiotis Christodoulatos of Athens-based Ikaros Shipping and Brokerage Co., Ltd., was elected as a Director of the American Club for the forthcoming year.

At the Director’s meeting that followed, Arnold Witte of Donjon Marine Co., Inc. and Mr. Markos Marinakis of Marinakis Chartering Inc. were re-elected as, respectively, Chairman and Deputy Chairman of the Club.

Joe Hughes, Chairman and CEO of the Club’s Managers, Shipowners Claims Bureau Inc., was re-elected as Club Secretary, and Lawrence J. Bowles was re-elected as General Counsel.

The American Club reported solid progress during 2015 to its Members at the meeting. Despite a challenging economic climate, the Club’s business developed respectably, and 2016 had started on a positive note.

The full Annual Report 2015 is available at www.american-club.com/page/annual-report

 

Notes to Editors

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

For more information, please visit the Club’s website http://www.american-club.com/

The full 2015 Annual Report for the American Club can be accessed on its website.

P&I Insurance

Protection and Indemnity insurance (commonly referred to as “P&I”) provides cover to shipowners and charterers against third-party liabilities encountered in their commercial operations; typical exposures include damage to cargo, pollution, death/injury or illness of passengers or crew or damage to docks and other installations.

Running in parallel with a ship’s hull and machinery cover, traditional P&I cover distinguishes itself from usual forms of marine insurance by being based on the not-for-profit principle of mutuality where Members of the Club are both the insurers and the assureds.

 

Filed Under: The American Club

The American Club reports solid progress in 2015 despite a difficult business climate

June 27, 2016 by

 

  • International P&I insurer maintains positive trends into 2016
  • membership risk profile continues to develop favorably
  • retained claims for 2015 at multi-year low
  • moderate Pool exposures
  • Eagle Ocean Marine maintains strong profitability
  • investment in American Hellenic Hull expands product range
  • new Houston office extends regional service reach
  • Club wins prestigious industry award

 

NEW YORK, JUNE 24, 2016: The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the Club’s business developed respectably, and 2016 had started on a positive note.

The Club’s tonnage and revenue experienced some attenuation in 2015 as global trade slowed and freight markets continued to struggle. Following the 2016 renewal, year-on-year tonnage entered for P&I and FD&D risks was stable at about 14 million GT for the former and 9 million GT for the latter class of business, but the Club’s charterers’ entry had showed encouraging growth.

Elevated levels of vessel turnover over the previous twelve months had caused an erosion of the Club’s dry bulk constituency (which, for 2016, has fallen from 44% to 40% of the total) but tanker tonnage had grown by a commensurate margin (rising from 40% to 44%). Premium rating, however, had remained comparatively firm, despite the enduring effect of “churn” as older, higher-rated vessels continued to be replaced by younger, lower-rated ships.

Claims for the Club’s own account proved to be exceptionally benign during 2015. Indeed, at the fifteenth month (as at May 20, 2016) of development, retained claims for the 2015 policy year were $29.5 million, 44% lower than those of 2014 at the same stage. International Group Pool claims were also exhibiting a modest level of development both for 2015 and its two predecessor years.

The risk profile of the American Club’s membership had further improved over the 2016 renewal. Entries at the outset of the current policy period had a trailing five year gross loss ratio of only 52%. This indicator had been on a favorable trajectory for several years, and augured well for the future.

Net premiums earned during the 2015 financial year were about 14% lower than the figure for the previous period. Total income, at $87.6 million, was also down by comparison with 2014, an increase in net interest and dividend income being offset by a year-on-year reduction in net realized capital gains.

However, incurred losses for the 2015 financial year, at $49.4 million, were more than 25% lower than the figure recorded for the previous twelve months, while operating expenses were also down, in this case by about 2.5%.

While the Club’s net income for the 2015 financial year increased from $1.2 million to $3.6 million, this was offset by an unrealized loss on investments of $5.8 million producing a small after-tax deficit for the year of $2.2 million compared with a surplus of $1.3 million twelve months earlier. Accordingly, members’ equity had reduced from $58.6 million to $56.4 million as of December 31, 2015.

The Club’s statutory surplus at year-end 2015 was, however, substantially greater than that recorded twelve months earlier, rising by 15% from $64.8 million in 2014 to $74.3 million for 2015. Some of this was attributable to the issue of a surplus note of $19.5 million toward the end of 2015, part of which had been committed to the Club’s investment in the hull market in the form of American Hellenic Hull Insurance Company, Ltd.

As to the development of policy years, 2013 was being closed as originally budgeted. The deficit for the year of $6 million would be subvented by the Club’s contingency fund which stood at $72.5 million as of March 31, 2016. In addition, the release call margin for 2015, as foreshadowed in the Club’s Circular of November 2015, was being reduced from 20% to 15%, in light of the continuingly benign claims development on that year.

The American Hellenic Hull initiative, which had commenced in the early part of 2015, continued to gain momentum. Many benefits had already accrued to the American Club, and more would follow. The transaction would enable the Club to become involved in the hull sector in a cost-effective manner which exploited existing corporate structures and market platforms. This combination of capabilities was creating a new force of growing energy within the marine insurance industry worldwide.

Eagle Ocean Marine (EOM), the American Club’s fixed premium facility, which focuses on the operators of smaller vessels in local and regional trades, was also performing well, and had made a strong contribution to overall results. EOM had continued to expand its market footprint during 2015, particularly in Asia. Its combined ratio remained less than 70%, testimony to its prudent approach to risk selection.

On the service front, in addition to the energetic promotion of loss prevention and other risk management tools, the Club was opening an office in Houston. This was scheduled for early July 2016. The office would enhance the Club’s claims handling and related services throughout the Gulf of Mexico, contiguous regions of the United States, and in Central and South America.

In recognition of its superior standards of member service, the American Club had in May 2016 won the Lloyd’s List 2016 North American Maritime Services Award. This spoke to the high regard in which the Club was held by the maritime community and represented a fitting tribute to all its members on the eve of the Club’s centennial year.

In assessing the Club’s performance, its Chairman, Arnold Witte, President of Donjon Marine Co., Inc., said: “For most of the shipping industry, 2015 was not a good year. Nevertheless, the American Club made progress in many areas. This has been sustained into 2016.”

He continued: “Next year the American Club celebrates its centennial. It is to be hoped that economic conditions generally, and those affecting the shipping industry in particular, will have improved by that time. But whatever the future holds, your Board remains committed to an exceptional level of solidarity with its members, and dedicated to maintain those unsurpassed levels of service upon which its reputation has been built during its first hundred years.”

Joe Hughes, Chairman and CEO of the American Club’s managers, Shipowners Claims Bureau, Inc., added: “Global trade faltered in 2015, exacerbating the economic hardships which have weighed upon the shipping industry in recent years. While this gave rise to an unpromising environment in which to advance the business of the American Club, it nonetheless made good progress during the year. A particular highlight was the development of the American Hellenic Hull initiative which holds great promise for the future.”

Mr. Hughes continued: “It was especially gratifying to win the Lloyd’s List 2016 North American Maritime Services Award, the Club having, in the opinion of the judges, “gone above and beyond best practice to offer the shipping industry something exceptional.” The award celebrates the great progress the Club has made in recent years. On the eve of its centennial, the American Club looks forward with both confidence and excitement to a second century of service to the global maritime community.”

Summary of Annual Results – 2015 Financial Year

  • Total income down 14% to $87.6 million
  • Incurred losses down 25% to $49.3 million
  • Net income up  200% to $3.6 million
  • Overall investment earnings positive with a 28 basis point return
  • Members’ equity at $56.4 million
  • Statutory surplus up 15% to $74.3 million

Other Highlights:

  • 2015 policy year claims exceptionally favorable: 44% better than 2014 at same point
  • Loss ratio of business renewed for 2016 improves to 52% from 57% two years ago
  • 2013 policy year being closed as originally budgeted
  • Release call margin for 2015 policy year reduced from 20% to 15%
  • Eagle Ocean Marine grows market footprint with solid profitability
  • American Hellenic Hull initiative gains momentum with great promise for the future
  • Houston office opening in early July, 2016
  • Club wins prestigious Lloyd’s List 2016 North American Maritime Services Award

Annual Report 2015 available www.american-club.com/page/annual-report

ENDS

Notes to Editors

The American Club

American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) was established in New York in 1917. It is the only mutual Protection and Indemnity Club domiciled in the entire Americas and its headquarters are in New York, USA.

The American Club has been successful in recent years in building on its US heritage to create a truly international insurer with a global reach second-to-none in the industry. Day to day management of the American Club is provided by Shipowners Claims Bureau, Inc. also headquartered in New York.

The Club is able to provide local service for its members across all time zones, communicating in eleven languages, and has subsidiary offices located in London, Piraeus, Hong Kong, Shanghai and Houston, plus a worldwide network of correspondents.

The Club is a member of the International Group of P&I Clubs, a collective of thirteen mutuals which together provide Protection and Indemnity insurance for some 90% of all world shipping.

For more information, please visit the Club’s website http://www.american-club.com/

The full 2015 Annual Report for the American Club can be accessed on its website.

P&I Insurance

Protection and Indemnity insurance (commonly referred to as “P&I”) provides cover to shipowners and charterers against third-party liabilities encountered in their commercial operations; typical exposures include damage to cargo, pollution, death/injury or illness of passengers or crew or damage to docks and other installations.

Running in parallel with a ship’s hull and machinery cover, traditional P&I cover distinguishes itself from usual forms of marine insurance by being based on the not-for-profit principle of mutuality where Members of the Club are both the insurers and the assureds.

Filed Under: The American Club

SOLAS VGM Seminar Calls for Collaborative Communication

June 8, 2016 by

Industry sentiment expressed at the ICHCA Seminar entitled ‘SOLAS VGM One Month Out – Are You Ready?’ held in Antwerp last week, was one of frustration.  Less than 15%  of the IMO Member States in which VGM regulations will be mandatory have issued guidelines on the manner in which they intend to enforce the regulation.

London, 8 June, 2016

With under a month to go before the amendments to the International Convention for the Safety of Lives at Sea (SOLAS), requiring that shippers obtain the verified gross mass (VGM) for each packed container and communicate it to the shipping line before it can be loaded onto a ship representatives of a wide spectrum of the industry gathered to review preparedness.

The recent IMO Circular, issued on 23rd May and urging ‘practical and pragmatic’ approach to enforcement of VGM over the first three-month settling-in period, was welcomed.  Albeit in the context that further national implementing measures may not be required, it was noted that less than 15% of the 162 IMO Member States that are signatories to SOLAS have given shippers and operators in their jurisdiction any helpful guidelines regarding VGM procedures that become mandatory on 1 July.

Mike Yarwood, Claims Manager from TT Club, the freight insurance specialist addressing the Seminar audience commented, “The recent IMO Circular is rightly good news for those that are taking appropriate steps to prepare for 1st July. It is not – and should not be considered in any way – a panacea for the unprepared. Sympathetic enforcement for a limited period allowing for cargo already in the supply chain and resolution of teething problems in no way steps away from the safety objectives of these VGM amendments.”  TT Club has repeatedly pointed out that there was extensive stakeholder and international consultation leading to IMO’s adoption of the amendments to SOLAS in November 2014.

The recent Maritime Safety Committee Meeting stated that the key to successful implementation of the VGM requirements is close communication and cooperation between governments and all industry stakeholders. It was also recognised that the

VGM requirements operate within a context of cargo related requirements in SOLAS, the ISM Code[1], the IMDG Code[2] and the CTU Code[3]. Mike Yarwood summed this up,

“Behavioural change through all aspects of the supply chain is required. Weight is a relatively small element of broader initiatives to engender safety and improve operational performance. Improved stakeholder communication is foundational.”

The Antwerp Seminar was a recent element of a long-running effort by ICHCA and a number of trade bodies to create a greater awareness and understanding of the VGM regulation.  Captain Richard Brough, Technical Advisor to ICHCA International has, along with others, been at the forefront in this challenge.  Speaking at the Seminar, he said, “As 1st July approaches we see an increasing number of terminal operators announcing the service options they will offer to shippers to facilitate determining the VGM of export containers.  Lifting equipment suppliers, carriers, forwarders and, with a few exceptions, shipper representatives have all engaged positively in order to identify the most appropriate way to comply, whether by Method 1 or Method 2.  Sadly, where compliance is a shared responsibility, communication between all the different parties has too often been acrimonious rather than collaborative. As a result – a month out – contingency planning is now crucial for all stakeholders, to avoid a potentially disastrous impact on container supply chains.”

Both ICHCA and TT Club, together with the World Shipping Council (WSC) and the Global Shippers Forum (GSF) are determined to use the remaining weeks to continue their mission of education to those concerned with, and about, the regulation.  These four sponsors will shortly issue ‘Verified Gross Mass – Supplementary Industry FAQs’ to add to the document released in December 2015. The organisations will also monitor implementation, both in the initial period and longer term.

[1]  International Safety Management Code

² International Maritime Dangerous Goods Code

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

ENDS 

Notes to Editors

About ICHCA International

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

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

www.ichca.com | www.ichca-australia.com

Follow us on Twitter @ICHCA2

Follow us on LinkedIn www.linkedin.com/company/ichca-international

 

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 on a smaller scale but whose operations face similar risks. TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Opeators, Marine Terminals, Stevedores, Port Authorities and Ship Operators.

The TT Club is managed by Thomas Miller.

www.ttclub.com

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

Principal activities include:

  • Management services for transport and professional indemnity insurance mutuals
  • Investment management for institutions and private clients
  • Professional services
  • Building defects insurance

www.thomasmiller.com

Filed Under: TT Club

Lecture held for The Sasakawa Peace Foundation Scholarship Students from The World Maritime University at “K”Line Training Center in Tokyo

June 7, 2016 by

Twenty-one students from 14 countries (*), who are provided the scholarship by the Sasakawa Peace Foundation and study at The World Maritime University took the special lecture at “K” Line Training Center in Tokyo, on May 19, 2016 in conjunction with the Sasakawa Peace Foundation for the purpose of deep understanding about maritime industry in Japan.

The world Maritime University (WMU) is a postgraduate maritime university founded by the International Maritime Organization (IMO), a specialized agency of the United Nations and established in Malmö, Sweden in 1983. Mainly its objective is to provide the advanced and professional maritime knowledge for the maritime personnel. The associated maritime organizations in Japan, such as The Nippon Foundation, The Sasakawa Peace Foundation (The Ocean Policy Research Institute), etc. have invited the said scholarship students mainly from Asia Pacific region to Japan every year as a part of scholarship program. This time, invited students paid their courtesy visit to relevant authority and organizations, visited the maritime associated facilities and enjoyed cultural heritages during their stay in Japan, besides taking the lecture at “K” Line Training Center,.

The students arriving at “K” Line Training Center were firstly given the welcome speech by Captain Eiji Kadono, Senior Managing Executive Officer responsible for Marine Sector, Technical and Environmental Affairs (including Fuel Cost Control) Unit, and subsequently received the lectures about the various topics such as brief history of “K” Line, the outline of our business, the role of maritime industry in Japan, Japan’s position in the global maritime industry, and “K” Line’s education system for seafarers. After the lecture, they experienced the ship handling simulator and LNG tanker simulator with the demonstration by the deck and engine instructors of “K” Line Training Center.

During the students question and answer session, some asked incisive questions about our business or shipping business in Japan, the other asked the origin of ship’s name, the various fields of Q and A were actively exchanged the whole time. We believe that they develop a better understanding not only about us but also shipping business widely.

“K” Line will continue to contribute to improve maritime education and enlightenment through such workshop or facility tour based on our knowledge in maritime technology and safe navigation inherited in its long history.

Ends

* Students are from: Bangladesh, Benin, Cambodia, Egypt, Indonesia, Japan, Jordan, Kenya, Morocco, Peru, Philippines, Sudan, Thailand, Vietnam (alphabetical order)

 

Filed Under: "K" Line

“K” Line secured long-term contract to transport steaming coal for Tenaga Nasional

June 7, 2016 by

“K” Line has established a joint venture company owning Malaysian-flag panamax vessel with Halim Mazmin Group(HMG) in order to participate in a tender for long-term contract with TNB Fuel Services Sdn Bhd(TNBF), and a subsidiary company of HMG has signed one long-term consecutive voyage charter contract with TNBF. TNBF has signed five long-term contracts with four Malaysian Shipping Companies in this tender.

The co-owned panamax vessel will transport 1.5 million　ton of steaming coal per year from Indonesia or South Africa or Australia to Malaysia consecutively for 10 years from September of 2016.

Tenaga Nasional Berhad(TNB) is the largest power utility company in Malaysia and has its total generating capacity of about 11,000 mW which is one of the largest generation capacity in South-East Asia. TNBF is a subsidiary of TNB and supplies coal and fuel to the TNB Generation. HMG is a group of companies operating ship owning, flight training academy, maritime university and tourism established by Tan Sri Halim Mohammad.

Under the medium-term management plan “”K” Value for our Next Century – Action for Future – ”,  “K” Line is expanding its business for achieving consistent growth by securing long-term contracts.

 

Filed Under: "K" Line

“K” Line set a New CO2 Emission Reductions Target for 2030, following earlier achievement of the interim milestone under “K” Line Environmental Vision 2050

June 7, 2016 by

Kawasaki Kisen Kaisha, Ltd.（ “K” Line）achieved 13.6% reduction in CO2 emissions*1 in 2015 against 2011 level, as a result of deployment of larger vessels, proactive initiatives for introducing advanced energy-saving technologies including electronically controlled engines, as well as slow steaming being continuously pursed through close cooperation at sea and on land with ship owners, vessels and ship management companies.

Therefore, we successfully accomplished ahead of schedule the CO2 emission reductions target by 10% for 2019 against 2011 level, which is one of our interim milestones by 2019, the 100th anniversary year of our foundation, under “K” Line Environmental Vision 2050 ～Securing Blue Seas for Tomorrow～*2  as a long-term objective toward 2050 established in March 2015.

In light of this achievement, “K” Line set a new CO2 Emission reduction by 25% for 2030 against 2011 level in the process of CO2 emission by half for 2050 under the Vision.

Towards the new target, we are pursuing further CO2 emission reductions through both hardware side such as deployment of energy-saving vessels, continued review on energy diversification including LNG-fueled vessels as well as adoption of energy-saving technologies to be retrofitted on existing vessels, and software side to enhance efficient operation by use of big data obtained timely from vessels and the operational management for ballast navigation and anchorage under energy management system which is now being introduced for thorough marine energy saving.

As a world–leading marine transport operator, “K” Line continues to aim at providing more environmentally and efficient transportation services for more people all over the world.

*1 Per ton-mile basis is an index for transporting one ton of cargo one nautical mile (1,852 meters).

*2 “K” Line Environmental Vision 2050

http://www.kline.co.jp/en/csr/environment/index.html

 

Filed Under: "K" Line

GEODIS moves to a new office in Mumbai

May 31, 2016 by

GEODIS increases its presence in Mumbai, India. The global transport and logistics provider is relocating its premises to “The Qube” at M.V. Road in Andheri (East). The move is driven by the continuous growth of GEODIS’ India business and the expansion of the Mumbai team.

“The relocation will foster a higher level of service excellence to our customers and also accentuates our commitment towards increasing our business development focus in the Western Region of India”, says Leif Voelcker, GEODIS’ Cluster Managing Director South Asia

The main services GEODIS provides in this region are freight management, industrial project management, buyer’s consolidation, and a Free Trade Warehousing Zone. As a unique positioning in the market GEODIS India is offering tailor-made solutions for different vertical markets.

GEODIS has been present in India since 1998, operating from 14 locations in the country and offering integrated logistics solutions covering freight services, warehouse management as well as local distribution. In India’s western region GEODIS has offices in Mumbai, Pune, Ahmedabad and Baroda.

ENDS 

GEODIS – www.geodis.com

GEODIS is a Supply Chain Operator ranking among the top companies in its field in Europe and the World. GEODIS, which is part of SNCF Logistics, which in turn is a business line of the SNCF Group, is the number one Transport and Logistics operator in France and ranked number four in Europe. Its international reach includes a direct presence in 67 countries and a global network spanning over 120 countries. With its five Lines of Business (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express and Road Transport), GEODIS manages its customers’ Supply Chains by providing end-to-end solutions enabled by our people and by our infrastructure, processes and systems.

For more information about GEODIS, go www.geodis.com

Filed Under: GEODIS

TT Club announces robust financial results for 2015 and affirmed AM Best A- (Excellent) rating

May 31, 2016 by

TT Club, the leading international transport and logistics insurance provider, today announces its financial results for the year ended 31 December 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.

Highlights:

  • $172.0 million gross earned premiums (2014: $182.2 million)
  • $4.8 million surplus (2014: $14.1 million)
  • Total assets of $618.1 million (2014: $610.2 million)
  • Total surplus and reserves $178.1 million (2014: $175.3 million)
  • AM Best affirms financial strength rating as A- (Excellent)
  • 2015 financial year combined ratio of 94.4% (2014: 85.6%)

Knud Pontoppidan, Chairman of TT Club, said: “After very good years in 2013 and 2014, 2015 was what most might be described as a ‘normal year’. Incidents such as Tianjin and a number of cargo-related fires meant the Club experienced a higher number of large claims above US$1million than in 2013 and 2014. The positive side of this claims experience was that the Club was able to demonstrate its very high levels of service by assisting Members in handling the claims.

“Despite the increase in large claims, and the soft rating conditions, the Club continues to be in good shape. The work to improve the health of the insurance book since 2009 has paid off to help to mitigate the increase in large claims in the year and the Club’s rating awarded by AM Best at A- (Excellent) has been affirmed for 2016.

“The Board and I are pleased with our very high retention levels in 2015 at 93% and the feedback we receive from Members and brokers on our service levels. A core element of the Club’s service offering is its approach to the risks faced by our members and the value delivered through the Club’s claims and loss prevention services. As a mutual insurer the Club will continue to work closely with Members to adapt its approach to their needs and deliver services to help them manage their operations more effectively.”

Charles Fenton, Chief Executive of TT Club, added: “TT Club continues to be financially strong and this is reflected in AM Best maintaining our excellent ‘A-’ rating. We remain committed to working with members and brokers to maintain our loss prevention and service levels that allow us to be the world’s leading provider of international transport and logistics insurance.”

The TT Club’s 2015 Annual Report and Financial Highlights can be downloaded here.

– End –

 

TT Club

TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services. Established in 1968, the Club’s membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.

 

Thomas Miller

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

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

Principal activities include:

  • Management services for transport and professional indemnity insurance mutuals
  • Investment management for institutions and private clients
  • Professional services
  • Building defects insurance

www.thomasmiller.com

 

 

Filed Under: TT Club

GEODIS moves it Freight Forwarding office in San Francisco to new location

May 23, 2016 by

Iselin, 23 MAY 2016 

The global transport and logistics provider GEODIS moves to a new location in San Francisco. As of today, Monday, May 23, GEODIS will serve its freight forwarding customers in the area from this new location:

San Francisco new address is:

229 Littlefield Ave Unit# 1

South San Francisco, CA 94080

United States

Phone: +1 650 692 9850

FAX: +1 650 871 7061

Email: info.ff.us@geodis.com

The new premises are providing larger and more enhanced facilities. “This will enable GEODIS to offer a higher standard of service and a wide range of multi modal logistics solutions to our customers”, says Viresh Dayal, GEODIS’ Branch Manager in San Francisco.

ENDS

 

About GEODIS

Supply chain operator and subsidiary of SNCF Logistics, GEODIS is a global European company, ranking fourth in its field in Europe. Through its ability to overcome logistical constraints and coordinate the different steps of the logistic chain (Supply Chain Optimization, Freight Forwarding (air and sea), Contract Logistics, Distribution & Express, Road Transport), the Group is the growth partner for its clients and offers them tailored solutions. With over 39,000 employees in 67 countries, the Group constantly innovates to improve the performance of its clients. The Freight Forwarding business of GEODIS delivers tailor-made, integrated logistics solutions supported by a specialized Industrial Projects division, managing oversized cargo operations worldwide. This division has achieved international recognition for its innovative and sustainable approach to transportation solutions.

For more information about GEODIS go to – www.geodis.com

Filed Under: GEODIS
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