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“K” LINE’s Participation in Joint Study to Explore Ammonia as Marine Fuel in Singapore

April 6, 2022 by

Kawasaki Kisen Kaisha, Ltd. (hereinafter “K” LINE) is pleased to announce that, effective as from today, we have participate in the feasibility study jointly conducted since March 2021 by and among A.P. Moller – Maersk, Fleet Management Limited, Keppel Offshore & Marine, Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, Sumitomo Corporation, and American Bureau of Shipping (*1), with the aim to establish a ship-to-ship based ammonia bunkering at the Port of Singapore, the largest bunkering port in the world (hereinafter “the Study”). Memorandum of Understanding was executed by and among the 8 companies, including Maritime & Port Authority of Singapore who has also decided to participate in the Study, at a ceremony held today during the occasion of Singapore Maritime Week 2022.

Emitting zero CO2 when combusted, ammonia has been considered as one of promising options among various alternative marine fuels to reduce greenhouse gas (GHG) emissions within the shipping industry, which is in line with the International Maritime Organization (IMO) strategy to achieve reduction of GHG emission by 50% in 2050 compared to the levels in 2008.

The Study aims to cover the entire end-to-end supply chain of ammonia bunkering, design of ammonia bunkering vessels, as well as related supply chain infrastructure. Relevant government agencies and experts in Singapore will be engaged in working towards the standardization of safe operation and regulations. Each partner will contribute to the Study within the scope set in line with their business domain.

We have long experience in handling of ammonia on board the vessel through technical management of ammonia carriers. In addition, we have know-how and expertise in the ship management service of bunkering vessel conducted within the regulatory framework and guidelines in Singapore which has been acquired through the management of Singapore’s first LNG bunkering vessel.

We believe that our engagement in the Study on the grounds of these expertise embodies the initiatives designated under our long-term environmental guideline – “K” LINE Environmental Vision 2050 (*2) – including “decarbonization of “K” LINE” and “promoting and supporting decarbonization of society”; hence we decided to participate in the Study. While watching trends in the development of international regulations concerning ammonia as marine fuel, we are planning to study ammonia-fueled vessels in more detail.

※1:     American Bureau of Shipping participated in the Study in October 2021.

※2:     “K” LINE’s environmental guideline. The target in 2050 was revised to be “net-zero”  in November 2021.  https://www.kline.co.jp/en/csr/environment/management.html

Partners

–           A.P. Moller – Maersk A/S   (HQ: Denmark)

–           Fleet Management Limited   (HQ: Hong Kong)

–           Keppel Offshore & Marine   (HQ: Singapore)

–           Maersk Mc-Kinney Moller Center    (HQ: Denmark) for Zero Carbon Shipping

–           Sumitomo Corporation    (HQ: Japan)

–           American Bureau of Shipping    (HQ: U.S.A.)

–           Maritime & Port Authority of Singapore   (Location: Singapore)

–           Kawasaki Kisen Kaisha, Ltd.    (HQ: Tokyo)

Filed Under: "K" Line

Dachser revenue exceeds EUR 7 billion for the first time

April 5, 2022 by

2021 was an exceptional year: Increases in volume and high freight rates generated record growth; 78.3 percent jump in air and sea freight


Kempten, April 5, 2022. In the 2021 financial year, Dachser increased its consolidated revenue by 26.0 percent to EUR 7.1 billion. After the lockdown-driven lateral detour of the previous year, the logistics provider is back on a dynamic growth track. The positive outcome for 2021 is due to organic growth in shipments and tonnage of 6.3 percent, or 7.7 percent at the Group level. High freight prices, caused by the shortage of load capacity experienced by all carriers, set the seal on this jump in revenue.

“There’s no question that 2021 was exceptional in many ways, with some extreme challenges to overcome,” says Dachser CEO Burkhard Eling. “It was marked by Brexit, the COVID-19 pandemic, and global supply chains pushed to breaking point, all of which caused great uncertainty among our customers. Even in this situation, we managed to offer logistics solutions while still maintaining a high level of quality and service. In this way, we strengthened ties with customers and pursued targeted expansion of business, especially with our major accounts. This was an extraordinary achievement, where the difficult conditions meant that our teams had to give their all.”

Business development in detail

Dachser’s Road Logistics business field—which comprises the transport and warehousing of industrial and consumer goods (European Logistics) and food (Food Logistics)—increased its revenue by 12.3 percent to EUR 4.99 billion in 2021. After lockdowns across southern Europe in 2020 led to a 2.2 percent drop in revenue, the result represents a significant increase—even over the pre-COVID year 2019.

The European Logistics business line raised its revenue by an impressive 13.1 percent to EUR 3.92 billion.Following several years of stagnation, the number of shipments increased significantly by 6.8 percent to 72.0 million; tonnage went up by even more, 8.5 percent, to 30.0 million. All regional business units—Germany, North Central Europe, France & Maghreb, and Iberia—recorded double-digit increases in revenue. Despite COVID-related restrictions for restaurants and hotels in Germany, the acquisition of new customers ensured that the Food Logistics business line achieved revenue growth of 9.8 percent. This is the first time the business line surpassed one billion, achieving revenue of EUR 1.07 billion.

In 2021, air and sea freight business was characterised by supply chain disruptions, a shortage of freight capacity, and correspondingly high rates. As a consequence of this development, the Air & Sea Logistics business field was able to achieve record revenue growth of 78.3 percent. Shipments handled rose by 9.1 percent and tonnage jumped 20.9 percent. One particular success was the further expansion of air freight charters to a network of regular transports between Asia, Europe, and North America. Dachser completed a total of 230 charters in 2021. “Reliably available freight capacity gives customers planning certainty—and that was the key to our success in 2021. In addition, we were able to feed goods arriving from overseas directly into our own European overland transport network for distribution and delivery, which proved to be very advantageous,” Eling explains.

Strategic and future-oriented action

Volatility and challenges continue to shape the marketplace in 2022. The war in Ukraine is causing extreme human suffering, and will also leave deep marks on the global economy. Then there are the record energy and fuel costs, the further exacerbation of the driver shortage, and persistent disruptions to global supply chains. This last is caused in part by further outbreaks of COVID-19 such as happened recently in China and Hongkong. “We must accept that we’re in for yet another year in which maintaining supply chains will require crisis management, flexibility, and resilience,” Eling says.

Nevertheless, Dachser is also providing for the future by investing in logistics facilities, digital technologies, and equipment. After investing around EUR 100 million in 2021, the company plans to spend some EUR 200 million in 2022. “This includes lighthouse projects such as our fully automated high-bay storage warehouse in Memmingen. Featuring 52,000 pallet spaces, this facility will open in October,” Eling explains. “At the same time, we’re also making substantial investments in digitalisation, climate protection, and especially in our employees—after all, logistics is and will always be a business run by people for people.” In 2021, Dachser hired some 1,000 new employees worldwide, and around 2,200 young people are currently doing an apprenticeship at Dachser locations across the globe. Dachser’s high equity ratio of approximately 60 percent provides strong support for the company’s investment policy.

About Dachser:

Thanks to some 31,800 employees at 376 locations all over the globe, Dachser generated consolidated net revenue of approximately EUR 7.1 billion in 2021. The same year, the logistics provider handled a total of 83.6 million shipments weighing 42.8 million metric tons. Dachser is represented by its own country organisations in 42 countries. For more information about Dachser, please visit www.dachser.com.

Filed Under: Dachser UK

GEODIS announces agreement to acquire Keppel Logistics – boosts its Contract Logistics footprint in Asia-Pacific

March 31, 2022 by

GEODIS, a global leader in the transport and logistics sector, today announced that it has signed a binding agreement to acquire Keppel Logistics. The project will significantly increase GEODIS’ Contract Logistics footprint and eCommerce fulfillment services in Singapore and Southeast Asia.

Marie-Christine Lombard, Chief Executive Officer of GEODIS, commented: “The acquisition of Keppel Logistics will mark a key milestone in GEODIS’ Asia-Pacific ambitions. Keppel Logistics is a well-established regional player, with a strong focus on innovation. Through this acquisition which will combine GEODIS’ worldwide leadership with Keppel Logistics’ robust local footprint, we believe we can create great value for our customers, facilitating their growth, particularly in the eCommerce Asian market”.

Based in Singapore, Keppel Logistics is a Contract Logistics specialist with close to 500 employees. Active throughout Southeast Asia, Keppel Logistics (ranked in the top 5 contract logistics players in Singapore) owns over 200,000m2 of warehouse space in Singapore, Malaysia and Australia. The company offers end-to-end B2B and B2C logistics solutions, from warehousing to last mile delivery, with strong skills in eCommerce omnichannel service offerings thanks to its fast-growing UrbanFox platform.

This project is a significant step along GEODIS’ strategic roadmap for the Asia Pacific region, where GEODIS currently employs 3,700 people spread over 76 sites. The acquisition will reinforce GEODIS as a leading logistics service provider, further expanding its footprint by adding to recent investments in contract logistics sites in India, South Korea and Australia.

Onno Boots, President and CEO of GEODIS Asia-Pacific said: “As one of the leading logistics providers, we are continuously looking for ways to evolve the region’s supply chain and our clients’ eCommerce ecosystem. The acquisition will strengthen our contract logistics and digital omnichannel capabilities, elevate our end-to-end logistics solutions and bring greater value to customers across the region. By enhancing our eCommerce services, we will provide brands with the ability to scale their online presence seamlessly and effectively navigate supply chain challenges to accelerate their growth in this region”.

Thomas Pang, CEO of Keppel Telecommunications & Transportation added, “For over 50 years, Keppel Logistics has been providing customised integrated logistics in Singapore. We believe the integration of Keppel Logistics as part of GEODIS will help accelerate Keppel Logistics’ growth, allowing it to scale up and provide even better value propositions to both its customers and internal stakeholders”.

The acquisition is subject to regulatory review and approvals, which are expected to be obtained by end of Q2 2022. Both companies will operate as independent businesses and run their operations as usual until that time.

Images Available here: https://geodis.keepeek.com/blKO9B4yr

GEODIS – www.geodis.com 

GEODIS is a top-rated, global supply chain operator recognized for its commitment to helping clients overcome their logistical constraints. GEODIS’ growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), coupled with the company’s truly global reach thanks to a global network spanning nearly 170 countries, is reflected by its top business rankings: no. 1 in France and no. 7 worldwide. In 2021, GEODIS employed over 46,000 people globally and generated €10.9 billion in revenue.

Filed Under: GEODIS

TT Club puts risk from invasive pests into sharp focus

March 31, 2022 by

Various sources of potential pest contamination exist throughout the global freight supply chain. Both national legislatures and multinational regulators are keen to minimise potentially devastating consequences to agriculture and the natural environment that unwanted invasive pests can deliver. All those involved in the movement of cargo internationally must heighten their awareness and tighten biosecurity measures.

The international freight transport insurer TT Club is bringing the nature of these phytosanitary risks into even sharper focus by helping to educate those involved in the intermodal supply chain about pests taking unwelcomed rides. This is building on the success of its series of animated supply chain security videos. As many vulnerabilities emanate at the time of packing freight units at export locations across many countries, the visual impact of video animations can be effective in conveying these crucial messages.

In introducing the videos Peregrine Storrs-Fox TT’s Risk Management Director commented, “The condition of the structure of the ‘metal box’ and its cleanliness are clearly important elements in relation to pest movement. However, there needs to be focus attention on the condition of the goods themselves and any packaging or dunnaging materials to ensure that they are not contaminated either. We have attempted to emphasise both these aspects in these animations and are grateful also for input from partners in the Cargo Integrity Group”.

The four video clips, that can all be accessed HERE , feature how the route taken by a road transport vehicle can affect cleanliness, as well as how mud and vegetation, however acquired, can harbour invasive pests, risking contamination before loading on board a ship. They also highlight how packing freight units under bright lighting at night can attract unwanted insects and the risk of cargo from previous loads also introducing invasive creatures.

A red curtain in a room Description automatically generated with medium confidence

TT wishes to bring the substantial issues of such contamination to the broad range of stakeholders as container flows are complex, involving multiple handovers of control and transport modes. The shipping company, which often operates the container, has little direct control over or access to containers except, with the involvement of local operators, when they are empty in depots or at terminals. This by no means applies to every trip. On many occasions containers are delivered empty for packing immediately after discharging the previous cargo.

A critical place of potential pest contamination is the packing point, over which the shipper exerts the most influence and control, either directly or via contractual agreement with the packer. It is clear therefore that an understanding by a number of parties about the interdependencies and mechanics of the supply chain is required to build effective, sustainable measures to mitigate the risks of transfer of invasive pests. So too is an understanding of biology of the range of pests at the point of origin. TT will continue to communicate the consequences of these risks and the means of reducing them through as many channels as it believes can be effective.

ENDS

About TT Club

TT Club is the established market-leading independent provider of mutual insurance and related risk management services to the international transport and logistics industry. TT Club’s primary objective is to help make the industry safer and more secure. Founded in 1968, the Club has more than 1100 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 93% 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

Filed Under: TT Club

GEODIS takes center stage at the Computer Weekly Innovation Awards APAC

March 31, 2022 by

High-tech features of GEODIS’ road transportation system praised for enhancing the networks’ resilience to supply chain disruptions 

GEODIS, a global leading transport and logistics services provider, was named the winner in the transportation category at this year’s Computer Weekly Innovation Awards APAC for its innovative use of Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML) in the development and design of its road services.   

The awards, presented by TechTarget, celebrate the best digital transformation projects across sectors such as transportation, retail, manufacturing, healthcare, and finance. GEODIS’ high-tech road transportation solution was selected by TechTarget’s members across APAC for its strategic integration of technology to afford customers greater control and visibility over their cargo.

GEODIS’ road transportation system recognized at the awards includes an advanced truck system designed to track and streamline scheduling processes by leveraging robust data collected from the deployed trucks, as well as other digital solutions that provide real-time updates and visibility across the journey of the cargo.

“Amidst an increasingly complex supply chain landscape, digitalization as well as being at the forefront of change has never been more essential for the industry. This is why we are relentless at driving innovation here at GEODIS” said Evelyn Ooi, Chief Information Officer, Asia Pacific, GEODIS. “We are honored to have the technology used in our road transportation system recognized. We believe that it serves as a testament to our sustained efforts towards thinking outside the box and delivering the most dynamic, agile, and competitive solutions to our customers.”

GEODIS’ road transportation system has already been rolled out across Southeast Asia from Kuala Lumpur to Singapore, Malaysia, Thailand and Vietnam. GEODIS plans to further expand this system to operations in China and India, amongst other key markets.

GEODIS – www.geodis.com 

GEODIS is a top-rated, global supply chain operator recognized for its commitment to helping clients overcome their logistical constraints. GEODIS’ growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), coupled with the company’s truly global reach thanks to a global network spanning nearly 170 countries, is reflected by its top business rankings: no. 1 in France and no. 7 worldwide. In 2021, GEODIS employed over 46,000 people globally and generated €10.9 billion in revenue.

Filed Under: GEODIS

GEODIS End-to-End Services deliver resilience in a beleaguered market

March 28, 2022 by

With supply chain disruption remaining a consistent problem for shippers around the world, GEODIS has introduced a fully integrated and customized logistics service designed to withstand the unpredictability of today’s global trade environment.  Flexibility is key to achieving consistent reliability and GEODIS is pulling its various resources and experience together in its end-to-end services offering.

At its core, GEODIS End-to-End Services has simplicity – to move customers goods from origin to destination with control and complete visibility. Through real-time data intelligence comes the ability to monitor milestones, anticipate delays and manage exceptions at an early stage, maintaining proactive control throughout the shipment’s journey along the supply chain.

“Throughout the recent months when disruption resulting from pandemic lockdowns, variable spikes in demand, transport capacity shortages, congestion at ports and other hubs and geopolitical upheaval, GEODIS developed alternatives to ensure that the delivery of customers’ goods was maintained,” says Eric Martin-Neuville, Executive Vice President, Freight Forwarding. “This flexibility and innovative philosophy are now engrained in the service offered by GEODIS End-to-End Services. Devising contingencies, solving potential blockages caused by disruption and optimizing our customer’s business logistically, are at the heart of GEODIS End-to-End Services.”

The service combines the existing functionality of Origin Services, Carrier Contract Management, Destination Services, Visibility, Customs Clearance Services, and the critical over-sight of the Control Tower. What is new is the co-ordination of these functions via a digital ecosystem connecting customers’ logistics data with real-time information on the status of shipments. This enables the mining of insights to reinforce and support flexible decision-making at critical junctures and guide their implementation by each GEODIS operational function. A team of dedicated experts analyzes the data and provides recommendations to optimize the supply chain whatever the external disruptive circumstances.

Joseph Fordney is Senior Vice President of Global Business Development of GEODIS’ Freight Forwarding activity: “We serve as a strategic partner to our customers to turn their supply chains from a cost center into a strategic asset,” he says. “GEODIS End-to-End Services will achieve this by creating resilience while striving to continuously optimize, helping our customers proactively overcome the challenges they are increasingly facing, and to grow their businesses.”

GEODIS – www.geodis.com 

GEODIS is a top-rated, global supply chain operator recognized for its commitment to helping clients overcome their logistical constraints. GEODIS’ growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), coupled with the company’s truly global reach thanks to a global network spanning nearly 170 countries, is reflected by its top business rankings: no. 1 in France and no. 7 worldwide. In 2021, GEODIS employed over 46,000 people globally and generated €10.9 billion in revenue.

Filed Under: GEODIS

“K” Line : Statement on the current situation in Ukraine

March 28, 2022 by

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) is deeply concerned about the safety of people exposed to the current humanitarian crisis in Ukraine. In relation to the current situation in the country, we have implemented the following measures:

  1. Humanitarian aid

Many seafarers from Ukraine are onboard vessels under our operation, and their families are forced to evacuate abroad. Considering the situation, we have decided to provide financial aid with 150 families, by contributing EUR 300,000 through Stargate Maritime Ltd., to support the costs for refugee life for the time being, including traveling costs from Ukraine to Bulgaria and accommodation costs after arrival, etc. We shall also consider additional support while taking into account the further progress of the situation.

  1. Impact on our business

Our services related to both Russia and Ukraine are suspended and changed sequentially, taking into account various situations. The impact of the situation in both countries on our business is minor and limited.

In response to this situation, we will comply with the international community’s coordinated sanctions, in accordance with the policy of the Japanese Government.

We would like to express our heartfelt sympathy to all those affected by the humanitarian crisis and pray for a peaceful resolution as soon as possible.

Filed Under: "K" Line

GEODIS and its employees take action in support of Ukraine

March 28, 2022 by
  • Provision of logistics capabilities for the transportation and storage of essential goods
  • Fundraising campaign in collaboration with the French Red Cross

 GEODIS, an international leader in transport and logistics, has committed to offer humanitarian aid to the people of Ukraine. This aid will be provided through the mobilization of the Group’s logistics capabilities for the transportation of essential goods, alongside a fundraising initiative in collaboration with the French Red Cross.

GEODIS will provide free transport and storage of goods from France and other European Union countries to the regions that have taken in Ukrainian refugees. To deliver these services, the Group will rely on its local teams, who are already setting up the appropriate transport and logistics resources to support the humanitarian aid and relief efforts. In particular, GEODIS will provide warehouse sites in strategic locations close to the Ukrainian border.

The management of GEODIS has also decided to support the French Red Cross in its operations through a fundraising campaign which will be open for all employees of the Group to contribute to.  Every euro donated will be matched by GEODIS on a one-for-one basis. All donations received by the French Red Cross will be used to support people directly affected by the conflict by helping to meet their needs for water, basic necessities, medical supplies, first aid and psychological and social support.

Marie-Christine Lombard, Chief Executive Officer of GEODIS, said: “We want to express our support for the Ukrainian people, who are experiencing the horror of the conflict. In addition to financial donations, the entire GEODIS Group has decided to contribute to the humanitarian effort by exercising its expertise in organizing transport and storage. Our network and our teams, whether at head office or at the local level, are fully dedicated to facilitating the flow of goods linked to international solidarity.”

GEODIS – www.geodis.com 

GEODIS is a top-rated, global supply chain operator recognized for its commitment to helping clients overcome their logistical constraints. GEODIS’s growth-focused offerings (Supply Chain Optimization, Freight Forwarding, Contract Logistics, Distribution & Express, and Road Transport), coupled with the company’s truly global reach thanks to a global network spanning nearly 170 countries, is reflected by its top business rankings: no. 1 in France and no. 7 worldwide. In 2021, GEODIS employed over 46,000 people globally and generated €10.9 billion in revenue.

Filed Under: GEODIS

JOE HUGHES TO STAND DOWN AS CEO OF MANAGERS OF AMERICAN P&I CLUB FROM AUGUST 1, 2022

March 22, 2022 by

DOROTHEA IOANNOU TAKES HELM AS NEW CEO FROM THAT DATE

VINCE SOLARINO ALSO TO RELINQUISH COO ROLE FROM AUGUST 1, 2022

DAN TADROS TAKES OVER AS NEW COO AT THAT TIME

MS. IOANNOU MAKES HISTORY AS FIRST-EVER FEMALE CEO OF GROUP P&I CLUB MANAGER

After 27 years’ service as Chief Executive Officer of Shipowners Claims Bureau, Inc. (SCB), the Managers of the American P&I Club, Joe Hughes will stand down from that role on August 1, 2022. Dorothea Ioannou, currently Deputy Chief Operating Officer of SCB, will succeed Mr. Hughes as CEO from that date, making history as the first woman to ascend to the top executive position of an International Group P&I club in the 167 year history of the marine mutuals.

At the same time, Vince Solarino will step down as Chief Operating Officer of SCB, Inc. after a similar length of service to that of Mr. Hughes, with Dan Tadros, presently Chief Legal and Compliance Officer of SCB, taking over the role of COO from Mr. Solarino.

Joe Hughes, Daniel A Tadros, Dorothea Ioannou, Vincent Solarino

Arpad Kadi will continue to discharge his duties as Chief Financial Officer and Tom Hamilton will continue in his role as Chief Underwriting Officer.

At the recent meeting of the American Club’s Board of Directors at which this news was announced, it was explained that Messrs. Hughes and Solarino would remain, respectively, as Chairman and President of SCB to focus on the transitioning of their day-to-day operational roles to their senior colleagues, led by Ms. Ioannou in concert with Messrs. Tadros, Kadi and Hamilton, and supported by SCB’s service teams throughout the world.

Joe Hughes was originally recruited as Chairman and CEO of SCB (then owned by Johnson & Higgins) in 1995, to lead the American Club’s Vision 2000 initiative to internationalize and diversify its business. Prior to moving to New York, Mr. Hughes, an Oxford-educated barrister by training, worked at both Steamship Mutual and Gard, later becoming chairman of the global marine operations of JIB International, part of the Jardine Matheson Group, in the early 1990s.

Vince Solarino joined Hughes shortly after the latter’s arrival in the United States, becoming CFO and then President and COO of SCB in 1999. A graduate in business administration and certified public accountant with diverse commercial experience, Mr. Solarino played a key role in working with Mr. Hughes to accomplish the accession of the American Club as a full pooling member of the International Group of P&I Clubs in February 1998.

Having established Eagle Ocean Management, LLC to acquire SCB from Marsh & McLennan (the successor to Johnson & Higgins) in 2002, Mr. Hughes and Mr. Solarino subsequently developed additional lines of business, most notably in the form of Eagle Ocean Agencies, Inc. which, in addition to operating the Eagle Ocean Marine (EOM) brand of the American Club, also acts as a program administrator for Validus/AIG in underwriting US hull and liability cover under the Eagle Ocean America banner.

Dorothea Ioannou was born, raised and educated in New York. A graduate of the City University of New York and St. John’s University School of Law, she relocated to Greece in 1997. After working originally in legal practice and insurance broking, Ms. Ioannou joined the newly-established SCB (Hellas), Inc., the Piraeus claims liaison office of SCB, in 2005. Initially employed as a claims executive, Ms. Ioannou subsequently rose to be the General Manager of the office in 2009, Regional Business Development Director in 2013 and Global Director of Business Development for the American Club in 2015. As part of SCB’s succession plan, Ms. Ioannou relocated to the company’s head office in New York in 2018. Having been appointed Deputy Chief Operating Officer some three years ago, and Secretary to the American Club in 2020, Ms. Ioannou’s elevation to Chief Executive Officer as of August 1, 2022 has been preceded by growing executive responsibilities over several years.

Dan Tadros joined the Club’s management team in July, 2019 as SCB’s Chief Legal and Compliance Officer. A US-born, but Greek-raised, graduate of the University of Florida and the Loyola University School of Law, Mr. Tadros led the Admiralty practice at Chaffe McCall, LLP, a leading maritime commercial law firm based in New Orleans and Houston, before joining the Managers. In addition to his legal talents, Mr. Tadros brings to his new responsibilities considerable experience in the operating requirements of maritime service providers such as SCB. He is also well-known and highly regarded within the International Group, having in the earlier stages of his career represented many different clubs across a range of litigation and other matters.

Speaking in New York on the announcement of this news, Joe Hughes said: “The last 27 years have been the most consequential of my professional life. The outlook of the American Club was, by common consent, not entirely promising in 1995, but it has enjoyed extraordinary growth and development since then. My colleagues and I take pride in the collective efforts which, over the years, have brought us to where we are today – marine insurers commanding universal respect within the industry. Most importantly, I have every confidence that Dorothea, as the first female CEO of a Group club management company, and Dan, together with Arpad and Tom, with the support of everyone in our service teams across the world, will take the Club and EOM to yet greater success over the years ahead.”

Vince Solarino said: “I entirely endorse Joe’s remarks. We have confronted many challenges over the last 25 years or so but, with the support of our professional colleagues, our Members, their brokers, the Club’s Board and our many other friends across the globe, we have been able to expand and diversify our operations to achieve the highly regarded position we enjoy within the maritime community today. We extend our congratulations to Dorothea and Dan, who we are confident will continue the Club’s mission with the same enthusiasm and success. Joe and I remain committed to supporting our excellent global teams who have become both our family and our legacy. We are stepping aside, not stepping out!”

Dorothea Ioannou, the incoming CEO, said: “I am thrilled and excited with this new appointment, which as a woman carries with it not only responsibility and significance for our organization, but also, as a first in the P&I sector, for the marine insurance industry in general. I have from the start been proud of working with SCB, the American Club and EOM and the team of talented professionals across the world with whom I have spent the last 17 years. I have been particularly privileged by the mentorship of Joe and Vince and I look forward to building on the achievements of the past to generate yet further success in the future.”

Dan Tadros, the incoming COO, also commented: “The recent years during which I have had the privilege of serving SCB, the American Club and EOM have been enriching, not to mention educational, quite nicely dovetailing my time as a maritime lawyer. I am excited about and look forward to assuming my new responsibilities as SCB’s COO over the months ahead, and to working with my exceptional colleagues across the world in developing future success together.”

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.

The American Club also operates a fixed premium facility, Eagle Ocean Marine (EOM), aimed at the operators of smaller vessels in local and regional trades. Since it commenced underwriting in 2011, EOM has enjoyed considerable success in building a growing footprint in this specialist market and generating strong profitability for the Club.

American Steamship Owners Marine Insurance Company (Europe) Ltd. – or the American Club (Europe) – is a wholly-owned, Solvency-II accredited subsidiary of the Club, based in Cyprus. Since it began operating in mid-2016 as American Hellenic Hull Insurance Company Limited, it has enjoyed an increasing market presence in the hull and machinery sector. Re-named as the American Club (Europe) since February 2022, it also underwrites P&I and related insurances under recent authorizations to that effect from the Cypriot regulator.

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

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

“K” Line Press Release

March 16, 2022 by

Announcement of the Execution of a Share Exchange Agreement to Make Kawasaki Kinkai Kisen, Ltd. a Wholly-Owned Subsidiary of Kawasaki Kisen, Ltd.(by Simplified Share Exchange)

Available on the “K” Line website in both in English and Japanese – https://www.kline.co.jp/en/

Filed Under: "K" Line
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