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“K” Line sign a Long-term Consecutive Voyage Charter for a LNG-fueled Capesize Bulk Carrier with JFE Steel Corporation

July 20, 2021 by

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) has signed a long-term consecutive voyage charter with JFE Steel Corporation regarding the upcoming new built capesize bulk carrier (210,000 DWT) fueled by liquified natural gas (LNG)

Image of cape size bulk carrier fueled by liquified natural gas

The construction of our first LNG-fueled bulk carrier will be ordered to NIHON SHIPYARD CO., LTD. and the vessel is scheduled to be delivered in 1st half of 2024.

The vessel is called a “next-generation vessel” coping with environmental issues. It will reduce the emissions of CO2, by 25 to 30 %, SOx by almost 100%, and NOx by around 85% with the use of LNG instead of conventional heavy fuel oil. Moreover, the vessel reaches more 40% of CO2 emission reduction in the Energy Efficiency Design Index (EEDI) which fully aligns with the reduction target of the International Maritime Organization (IMO). *1 　“K” LINE will also install “Seawing”*2, an automated kite system utilizing wind power supplied by Airseas, to increase the effects of decarbonization.

“K” LINE has been promoting a corporative policy of “sustainable management” in terms of environment, society, and economy to satisfy global needs concerning climate change and SDGs continuously now and future. The introduction of the next-generation vessel is one of the projects within this sustainable management approach. It will be a significant step for us to stimulate the well-being of society as an integrated logistics company.

With “K” LINE Environmental Vision 2050*3, “K” LINE will flexibly and proactively listen to customer demands including environmental issues and find the best solution to contribute to the sustainable development of the society.

Outline of the Vessel

Dimension    ：   approx. LOA 299.99 meters x Breadth 50.00 meters x Depth 25.00 meters x Draft 18.40meters

D/W          ： approx.210,000 tons

G/T           ： approx.110,800

(*1)   EEDI and Regulations of SOx and NOx

https://www.kline.co.jp/en/csr/environment/regulation.html

(*2)   June 7, 2019 release:

Installation of “Seawing”, an automated kite system utilizing natural energy.

https://www.kline.co.jp/en/news/csr/csr7510328279625406497/main/0/link/190607EN%20.pdf

(*3)   “K” LINE Environmental Vision 2050 “Blue Seas For the Future”

https://www.kline.co.jp/en/csr/environment/management.html#002

Filed Under: "K" Line

GEODIS in Germany receives gold status in this year’s “Investors in People” accreditation

July 19, 2021 by

The international certification organization “Investors in People” (IIP) has awarded the Freight Forwarding activity of GEODIS in Germany with the gold status. In the course of an audit, independent IIP experts assessed personnel management and development in GEODIS’s Freight Forwarding line of business in Germany and found it to be exemplary. The award highlights GEODIS’s strong commitment and high quality standards in the area of leadership and personnel management.

“Having already been awarded silver by ‘Investors in People’ in 2018, we are very proud to have achieved gold status this year.,” says Antje Lochmann, Managing Director of GEODIS’s Freight Forwarding activity in Germany. “Since our first IIP accreditation in 2014, we have jointly taken on many topics in order to improve the working conditions in our company systematically and continuously. The quality management system of ‘Investors in People’ is an important guideline for us to improve the qualifications of our leadership and employees in a structured way and in line with our goals.”

“Our employees are the basis for the success of our company”, says Thomas Kraus, GEODIS President & CEO North, East and Central Europe. “The continuous development of our employees is our top priority. At GEODIS, we just recently launched “Manage!”, a global program to support our managers worldwide. The gold status is another great success for our team in Germany.”

All management levels and departments of GEODIS’s Freight Forwarding‘s line of business  Germany are involved in the further development and integrated into the group work. All employees can make suggestions and contribute to these processes. One of the tasks of the IIP team within the working group is to prepare targeted measures on various topics and to drive implementation forward. An independent, external auditor of the IIP organization carries out the examination for the IIP accreditation. This person selects employees and managers from various departments and gains detailed insight into the work environment and personnel management during individual interviews.

“Investors in People” is an international quality standard for sustainable success in the area of corporate development and personnel management. The focus is on improving corporate performance brought about by employees. Among other things, training and further education, sustainability, work-life balance, and social responsibility are assessed. Re-accreditation takes place every three years. The independent organization “Investors in People” is headquartered in London and currently represented in 66 countries. Since it was founded in 1991, more than 50,000 companies and organizations have become accredited there, including public sector organizations, international corporations, as well as SMEs and charities. Only 17 percent of the organizations have been awarded gold status.

For more information, please visit: www.investorsinpeople.com

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 direct presence in 67 countries, and a global network spanning 120 countries, translates in top business rankings, #1 in France, #6 in Europe and #7 worldwide. In 2020, GEODIS accounted for over 41,000 employees globally and generated €8.4 billion in sales.

Filed Under: GEODIS

EAGLE OCEAN MARINE CELEBRATES TEN YEARS OF SERVICE TO THE MARITIME COMMUNITY

July 14, 2021 by

FIRST DECADE OF OPERATIONS MARKED BY STEADY GROWTH AND SOLID PROFITABILITY

SUSTAINABLE APPROACH TO BUSINESS AUGURS WELL FOR CONTINUING SUCCESS

NEW YORK, JULY 14, 2021:  Eagle Ocean Marine (EOM), the American Club’s facility providing fixed premium protection and indemnity (P&I) and freight, demurrage and defense (FD&D) cover to the operators of smaller vessels in regional trades outside the US, recently celebrated ten years of service to the maritime community.

EOM began operating as an American Club underwriting facility on July 1, 2011.  It has just completed its first decade of operations on a high note, having enjoyed steady growth and solid profitability over recent years.  The commencement of EOM’s eleventh year has also been marked by the successful renewal of its reinsurance arrangements, supported by the continuing commitment of first-class security at Lloyd’s and elsewhere, a reflection of EOM’s excellent track record and the sustainability of its business model.

Over the forthcoming months, EOM’s gross premium income since inception is projected to surpass $100 million, with revenue over the last three years in particular having seen a compound annual growth rate of approximately 17%.  Total premium earned for the most recent year of account is expected to be about $17.6 million, compared with just over $15 million for the immediately preceding twelve months.

As EOM continues to gain traction throughout the world as a gold-standard insurer in a changing fixed premium P&I landscape, there are grounds for optimism that its market footprint will continue to expand.  Moreover, notwithstanding chronic rating softness in the marine liability insurance sector, EOM has had success in obtaining sustainable levels of pricing for the cover it provides, a token of the respect with which the quality of its service is viewed within the industry.

As to its underwriting results, EOM has continued to perform well over the recent past.  The facility’s historic combined ratio since inception remains at about 75%, with an even better result over the last three years.  Most importantly, EOM continues to contribute positively to the American Club’s mutual membership, whose overarching interests animate EOM’s prudent approach to risk selection and premium pricing.

The distribution of EOM’s insured tonnage by reference to domicile of management and vessel type is broadly based, and has remained relatively constant over recent years.  With 1,700 vessels with an average unit size of 1,700 gross tons, EOM’s business derives from the major centers of maritime enterprise across the globe, with a strong representation from the Asia-Pacific region.  As to vessel type, the dry cargo and small craft sectors make up the preponderance of tonnage at 50% and 33% respectively, with tankers (at 14%) accounting for most of the remainder.

Commenting on Eagle Ocean Marine’s first ten years, Joe Hughes, Chairman and CEO of Eagle Ocean Agencies, Inc., which manages the facility on behalf of the American Club, said:  “My colleagues and I take great pleasure in celebrating the first ten years of EOM service to the maritime community.  The steady growth of EOM’s market footprint and premium revenue, coupled with its continuingly profitable contribution to the American Club’s mutuality, are testament to its prudent approach to risk selection and premium pricing, as well as the respect of the market for the quality of its services.  In an uncertain landscape, EOM remains the gold standard for fixed premium P&I insurance.  We have every reason to view the commencement of EOM’s second decade of operations with great optimism for the sustainability of its business model.”

ENDS

NOTE:

Eagle Ocean Agencies, Inc., is a member of the New York-based Eagle Ocean Group of companies – North America’s leading provider of mutual management, underwriting, adjusting, claims handling, surveying and loss consultancy services to the international shipping and insurance communities.

Filed Under: The American Club

GEODIS announces a project to acquire GANDON Transports to enhance its healthcare offering

July 12, 2021 by

GEODIS has signed an agreement to acquire GANDON Transports, a leading player in the transport of temperature-controlled pharmaceutical products. Already very active in the healthcare market, GEODIS will now be able to expand its capabilities and pursue its development in this market segment.

“This acquisition will consolidate GEODIS’ status as a key player in the healthcare market.  From inventory planning to temperature-controlled storage and transport to the final recipient, we want to offer our customers a complete and reliable solution throughout the supply chain,” explains Marie-Christine Lombard, Chief Executive Officer of GEODIS.

With its  recognized expertise in the transport of pharmaceutical products at controlled temperatures (2/8°C and 15/25°C), benefiting from a portfolio of loyal customers, GANDON Transports has an extensive network that will strengthen the capacity of GEODIS to distribute to pharmacies, hospitals and wholesalers throughout France.

“This operation will meet our customers’ growing demand for temperature-controlled transport of the healthcare products.  This new resource will enable us to offer our current and future customers a transport service for heat-sensitive products, anywhere in France. ” says Stéphane Cassagne, Executive Vice President of GEODIS’s Distribution & Express Line of Business.

“By joining the GEODIS group, a world leader in transport and logistics, we will be able to offer greater opportunities to our customers and employees.  At the heart of this alliance are the strong and shared values of customer service and employee satisfaction” says Joël GANDON, President of GANDON Transports.

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 direct presence in 67 countries, and a global network spanning 120 countries, translates in top business rankings, #1 in France, #6 in Europe and #7 worldwide. In 2020, GEODIS accounted for over 41,000 employees globally and generated €8.4 billion in sales.

Filed Under: GEODIS

GEODIS Announces Acquisition of Velocity Transport, Expanding Freight Brokerage Capacity

July 6, 2021 by

GEODIS, a global supply chain operator, has reached an agreement to acquire substantially all of the assets of Velocity Freight Transport, Inc., a leading freight brokerage company based in Plano, Texas, from McLane Company, Inc., a subsidiary of Berkshire Hathaway.

“With the acquisition of Velocity, we are welcoming an exceptionally talented team of freight brokerage experts who have a deep understanding of the challenges and opportunities of today’s dynamic logistics and supply chain environment,” said Mike Honious, President & CEO of GEODIS in Americas. “For many reasons, they are an ideal fit for GEODIS. None greater than our common cultures—authentic, passionate teammates who are relentlessly dedicated to exceeding client expectations. This acquisition will expand our current freight brokerage capabilities and enable us to continue to aggressively grow our capacity solutions service for clients at a pivotal moment.”

The acquisition expands GEODIS’ Capacity Solutions offering in North America at a critical time as the industry continues to face ongoing driver and truck shortages. The acquisition of Velocity will help meet the increased customer demand for more transportation alternatives to ensure their supply chains remain agile and effective. Velocity provides freight brokerage services that include refrigerated and temperature-controlled freight, flatbed and less-than-load (LTL) trucking, intermodal, van, and specialty options. Velocity’s team will remain in Plano, expanding GEODIS’ operation in the Dallas-Fort Worth metro area where it currently employs up to 3,500 teammates.

“Velocity began with the vision of becoming the first choice in freight brokerage with a reputation built on our principled approach and quality of service,” said John Lower, Vice President at Velocity. “This new chapter with GEODIS will allow us to build upon our success and enable further growth opportunities. By combining our resources with GEODIS’ truly expansive reach, we will ultimately be able to provide our clients a broader range of services across the Americas and globe.”

With its Americas region headquartered in Brentwood, Tenn., GEODIS operates a full-service managed transportation line of business in the U.S. Additionally, GEODIS operates more than 150 warehouse facilities for its clients with over 47 million square feet of warehousing space in the U.S. alone. GEODIS now has more than 15,000 employees across North America.

The transaction closed June 30, 2021. Terms of the transaction will not be disclosed.

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 direct presence in 67 countries, and a global network spanning 120 countries, translates in top business rankings, #1 in France, #6 in Europe and #7 worldwide. In 2020, GEODIS accounted for over 41,000 employees globally and generated €8.4 billion in sales.

Filed Under: GEODIS

FIATA and ICHCA strengthen collaboration

July 2, 2021 by

Geneva, 29 June 2021 – FIATA International Federation of Freight Forwarders Associations and the International Cargo Handling Coordination Association (ICHCA) have renewed their Memorandum of Understanding (MoU) to reinforce collaboration between the two organizations. A signing ceremony took place online today and was attended by FIATA and ICHCA representatives, as well as respective members.

FIATA represents the freight forwarding industry by advocating trade facilitation policies and promoting best practices in the supply chain to speak with a unified voice in support of freight forwarding associations and logistics companies. ICHCA is 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.

The MoU facilitates close coordination between FIATA and ICHCA to help them pursue their respective organizational goals and further mutual understanding. The MoU also creates the framework for cooperation that will enable both organizations to benefit from agreed actions and initiatives to achieve common objectives.

“Cooperation with key industry organizations is critical to the safe and efficient performance of today’s increasingly complex supply chains,” said FIATA President, Basil Pietersen. “The renewal of our MoU with ICHCA provides a valuable opportunity to strengthen our collaboration and review our common goals. As we set sail into this new chapter of our partnership, I am confident that we will achieve the objectives set in this new cooperation agreement.”

The identified areas for collaboration in the MoU include the engagement of all actors in safety and security-related topics, the digitalization of the supply chain, the improvement and reinforcement of operational efficiency, and regulatory and policy developments around the world that may impact on the activities of the supply chain.

“By renewing and strengthening our MoU with FIATA, the two organizations can work more effectively in pursuing our common goals and objectives,” said ICHCA International’s Chair, John Beckett. “We remain committed to our efforts to improve safety, security and sustainability in the global logistics supply chain, especially at the ship/port interface.”

FIATA and ICHCA share a long history. Their collaboration has been ongoing for more than 25 years, with their first MoU signed in 2006. Since then, both organizations have engaged in different activities and meetings: to improve the carriage of packaged dangerous goods, elaborate and publish information material relating to carriage of dangerous goods, and take initiatives to actively influence the regulatory work at the UN.

About FIATA

FIATA International Federation of Freight Forwarders Associations is a nongovernmental, membership-based organization representing freight forwarders in some 150 countries. FIATA’s membership is composed of 109 Associations Members and more than 5,500 Individual Members, overall representing an industry of 40,000 freight forwarding and logistics firms worldwide. Based in Geneva, FIATA is ‘the global voice of freight logistics’ www.fiata.com.

Filed Under: ICHCA

GEODIS opens a new warehouse in Morocco

July 2, 2021 by

GEODIS continues to develop its logistics activities in Morocco and today inaugurated a new warehouse located north of Casablanca. This will serve one of the leaders in household appliances and telephony.

With a well-established presence in Casablanca, GEODIS has chosen the city of Mohammedia to further expand its activities. The new 11,000 sqm ultra-secure warehouse will be dedicated to the supply chain management of household appliances and high-tech products.

In operation as of today, this new site reflects GEODIS’ ambition to expand in the Moroccan market, particularly to meet the requirements of customers in the Consumer Packaged Goods (CPG) sector. GEODIS is employing nearly 50 people at the site.

“GEODIS has been established in Casablanca for 40 years. This year we are strengthening our presence in the Moroccan market with two new facilities. On 1st May we opened in Tangiers, and now in Mohammedia. These openings are central to our development strategy which targets the CPG, Automotive and Aerospace verticals,” says Jérôme Algier, Managing Director of GEODIS in Morocco.

In Morocco, GEODIS operates a total storage capacity of nearly 50,000 sqm and has a staff of 300 employees.

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 direct presence in 67 countries, and a global network spanning 120 countries, translates in top business rankings, #1 in France, #6 in Europe and #7 worldwide. In 2020, GEODIS had over 41,000 employees globally and generated €8.4 billion in sales.

Filed Under: GEODIS

American Club conducts Annual Meetings remotely for second year – Reports solid progress in 2020 with positive start to 2021

July 2, 2021 by
  • Club tonnage and premium increase by 5% during 2020, growth continues into 2021
  • Eagle Ocean Marine experiences record income and solid profitability
  • American Hellenic Hull sees further price and balance sheet strengthening
  • Club investments earn 5.4% in 2020 despite market volatility early in year
  • Retained losses improve in 2020, frequency of larger claims diminishes
  • Pool exposures at record level for 2020 as escalation of recent years persists
  • 2020 financials presented on new basis to recognize EBUB accounting efficiencies
  • Year-end 2020 Members’ Equity shows marginal reduction from 2019 figure
  • Combined ratio of 112% for 2020 within lower range of recent market results
  • Loss prevention initiatives expand significantly despite COVID-19 constraints
  • Club and Managers gain NAMEPA CSR/ESG sustainability accreditation
  • IT and other capabilities continue to secure unimpaired service to all stakeholders
  • Annual Meeting of the Directors re-elects Mr. George D. Gourdomichalis and Mr. Robert D. Bondurant as Chairman and Deputy Chairman of the Board respectively. Ms. Dorothea Ioannou re-elected as Secretary.
  • Mr. Lawrence Bowles re-appointed as General Counsel, but announces his intention to retire in 2022 after twenty years’ service. Mr. LeRoy Lambert appointed as Assistant General Counsel in anticipation of his succeeding Mr. Bowles at that time.

NEW YORK, JUNE 25, 2021: For the second time in its history, Members attending the American Club’s Annual Meeting in New York recently did so remotely, in a virtual format made necessary by the continuing exigencies of the COVID-19 pandemic. But they heard that the Club had made solid progress across all business lines over the previous twelve months, and that 2021 had started on a positive note.

2020 had been a uniquely difficult year. The disruption caused by the COVID-19 pandemic had brought unprecedented challenges to commerce. However, although the global economy and supply chains had struggled during the first half, greater stability had prevailed as the year unfolded. The American Club had grown by 5% in premium and tonnage during 2020, and this momentum had continued into 2021.

For Eagle Ocean Marine (EOM), the American Club’s fixed premium facility, 2020 was an excellent year. Its revenue and reach both increased substantially over the period. The 17% compound annual growth rate of premium recorded over the previous three years had been attended by sound underwriting results, producing an aggregate combined ratio since inception of under 80%.

American Hellenic Hull, the American Club’s Solvency II-accredited hull and war risks underwriting subsidiary domiciled in Cyprus, saw further price and balance sheet strengthening during 2020. Rising profitability was expected over the months ahead, as general market hardening, assisted by prudent risk selection and pricing, continued.

The American Club’s attritional claims exposures during 2020 had improved by comparison with the previous year. However, the elevated loss trends experienced by the International Group’s Pool over the recent past had continued in 2020. This was likely to emerge as the most expensive pooling year ever recorded.

As to the Club’s latest financial statements, it was noted that there had been a change in the earlier accounting treatment, and presentation, of premium earned but unbilled (EBUB). Previously, EBUB had been used solely as a means of recognizing the unique benefits of the February 2008 DJA settlement agreement, covering pre-1989 asbestos claims.

In the most recent financial statements, the use of EBUB had been expanded to account for (i) the explicit, pro-rata reinsurance by open policy years of those pre-1989 asbestos claims and (ii) deficits attributable to the development of the open policy years themselves. Both had been balanced by sums designated as EBUB. This properly recognized the ex post facto, adjustable nature of the premium entitlements of mutual, assessable insurers such as the Club, and both the treatment and presentation of EBUB had been approved by its independent auditors. The approach also removed certain inefficiencies in the Club’s statutory accounting with the New York regulator.

On the investment front, the 2020 financial year had seen a 5.4% return on the Club’s portfolio, a creditable outcome in light of market volatility over the period. This result contributed to a year-end GAAP surplus only $3.75 million less than that recorded on a restated basis for the previous year. However, the year-on-year reduction of surplus from 2019 to 2020 was approximately $6.8 million on a non-restated basis.

The Club’s combined ratio for 2020 was 112% (116% absent the accounting change), a figure which, although within the lower range of recent market results, nonetheless highlighted the need for greater sustainability in premium pricing for the future, a subject upon which several International Group clubs had also commented during the recent round of reporting.

Having adopted a 5% general increase for the 2021 renewal, the American Club had experienced revenue growth of about 7.5%, taking into account deductibles and other changes to insuring conditions. It was also encouraging to note that the risk profile of the renewing membership continued to be favorable, implying a positive claims outlook for the future. Growth had continued into the early part of 2021, with a 7% increase in tonnage entered for Class I (P&I) risks during the first three months of the new policy year.

As the pandemic set in during the opening months of 2020, the Club’s Managers had been able to respond during 2020 with agility to new operating circumstances, adapting traditional modes of operation to take account of remote working in a virtual environment. Indeed, overall, the impact of COVID-19 on the Club, EOM and American Hellenic Hull had been comparatively muted.

The Club’s commitment to loss prevention and sustainability in general gathered momentum in 2020 and had moved further forward into 2021. As to the latter, the Club and its Managers had recently gained the CSR/ESG sustainability accreditation of the North American Marine Environment Protection Association (NAMEPA) and, having conformed to the exacting standards this entailed, been awarded its Maritime Sustainability Passport accordingly.

At the Annual Meeting of the Directors, which took place immediately after that of the Members, Mr. George D. Gourdomichalis of Phoenix Shipping and Trading S.A. and Mr. Robert D. Bondurant of Martin Resource Mgmt. Corp. were re-elected as, respectively, Chairman and Deputy Chairman of the Board.

Ms. Dorothea Ioannou, Deputy Chief Operating Officer of the Managers, was re-elected Secretary. In addition, Mr. Lawrence J. Bowles was re-appointed as General Counsel to the Club. In accepting his re-appointment, Mr. Bowles indicated that he planned to retire at the 2022 Annual Meeting, having by then completed twenty years as the Club’s General Counsel.

In anticipation of this, the Board was pleased to note the engagement of Mr. LeRoy Lambert as Assistant General Counsel to the Club, with a view to his succeeding Mr. Bowles in 2022. A well-known figure in the maritime community, Mr. Lambert was for many years in private practice as a partner of leading commercial law firms in the United States before becoming President of, and later General Counsel to, the US representative office of the managers of another International Group club. He is also the current President of the US Society of Maritime Arbitrators.

Speaking in connection with the Annual Meeting, Mr. Gourdomichalis, the American Club’s Chairman, said: “2020 was a uniquely difficult year. The disruption caused by the COVID-19 pandemic brought unprecedented challenges both to global commerce in general and to the conduct of insurance business in particular. Nevertheless, progress was achieved in every sphere of the Club’s affairs, notwithstanding adverse operating conditions. The Club remains well placed to exploit the many opportunities it sees in its future. In doing so, it will rely – as it always has – on the enduring support of its Members to whom my fellow Directors and I extend our sincere thanks and appreciation.”

Joe Hughes, Chairman & CEO of Shipowners Claims Bureau, Inc., the American Club’s Managers, also commented: “2020 was a year many people would prefer to forget. The rapid onset of the COVID-19 pandemic created an especially difficult business environment for virtually everyone, everywhere. And nowhere was the impact of the pandemic felt more keenly than at sea. In looking back over 2020, a special thought must surely go to seafarers, upon whose work the livelihood of the entire maritime community depends.

“For their own part, both the American Club and Eagle Ocean Marine, responded in new and imaginative ways to secure unimpaired service to their respective constituencies. On the insurance front, retained claims stabilized, largely unaffected by the pandemic, but Pool exposures continued to rise. Premium pricing increased somewhat, and investment returns were solid. Eagle Ocean Marine maintained its robust contribution to the Club’s mutuality and American Hellenic Hull experienced further price and balance sheet strengthening.”

He continued: “However, as our friends in other clubs have themselves remarked, technical underwriting results among P&I providers remain under pressure, highlighting a need for more sustainable pricing for the future. Nevertheless, despite the stresses of the past twelve months, the American Club looks forward with its characteristic optimism to a future of continuing opportunity.”

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 Hellenic Hull Insurance Company, Ltd. (AHHIC) is a wholly-owned, Solvency-II accredited hull and war risk subsidiary of the Club, based in Cyprus. Since it began operating in mid-2016, AHHIC has enjoyed an increasing market presence coupled with growing premium volume and rising profitability.

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

Filed Under: The American Club

GEODIS achieves “Investors in People” accreditation across Asia Pacific

July 2, 2021 by

Recent efforts in the Asia-Pacific region (APAC) have resulted in Investors in People (IIP) accreditation in 12 locations in which GEODIS operates. Based on the concept of sustainable high performance through people, the IIP certification, an international standard for people management, confirms GEODIS’ commitment to caring for and developing its people.

GEODIS has seen its activities accredited in Australia, Bangladesh, China, Hong Kong, India, New Zealand, Indonesia, Malaysia, Singapore, Taiwan, Thailand and Vietnam.

With a detailed structure of nine key indicators, the criteria of which have been developed over 30 years, IIP accreditation is recognized in 66 countries around the world. Companies must achieve proven set levels of performance in three well-defined areas of personnel management: Leading, Supporting and Improving.

Caption – GEODIS staff in Hong Kong, China and Australia Celebrate IIP Accreditation

“The IIP key indicators of performance are very much aligned with our own seven corporate ‘Golden Rules’ and seven ‘Leadership Principles’,” explains Anne Tan, Head of Human Resources, APAC for GEODIS. “Leading and inspiring our people by engaging and empowering them to take ownership of the performance is critical. In addition, each and everyone’s abilities are actively developed, allowing our people to realize their potential, creating a culture that encourages innovation and continuous improvement to drive sustainable success. We consider IIP accreditation as an independent measure confirming the success of our guiding principles.”

Having a clear and compelling ambition is seen as central to achieving and sustaining accreditation. GEODIS’ strategic plan, Ambition 2023, is backed by a structured Transformation Program, in place since 2019. This program is led and sponsored by the APAC Board members and provides a blueprint for the different functional and commercial areas in the company to develop and grow within 5 years to meet its accelerated growth objectives.

“GEODIS in APAC is on a journey of growth through transformation. In an ever-rapid changing environment, embracing innovation and being flexible in operating as a team and as a region will be key in increasing GEODIS’ market share and relevance,” says Onno Boots, Regional President & CEO, Asia Pacific. “Programs such as the recently launched ‘Manage!’ supports leaders through training and is an example of how GEODIS is investing in its people and their readiness to meet the challenges of a fast-growing team. In addition, GEODIS continues to enable career progression for all staff through detailed development plans for individuals at all levels. The aim is to attract younger people and retain talented performers with the excitement of a logistics career at the precipice of change, while providing them the job stability of belonging to a global organization.”

Some other examples of what GEODIS has been carrying out to achieve the IIP accolades include:

  • Setting up of Employee Engagement Focus groups to review results, identify root causes and propose recommendations, corresponds to one of the nine IIP key indicators labelled “Empowering and involving people”. IIP‘s comments include, “The new Employee Engagement Focus group is a clear indication that the leaders want people to be more engaged and involved.”, and “A very good practice is involving people in action planning based on the results of the Employee Engagement Survey (EES). This has been done by asking for volunteers to join the focus group through a feedback process.”.
  • The cross-department job rotation schemes in various ASEAN countries is an initiative that is in line with the IIP indicator entitled “Structuring work” within the ‘Support’ sector. IIP’s remarks include, “This good practice enhances the acquisition of additional skills and competencies of your people. A broader job profile will give people more scope to grow within their roles.”.
  • All GEODIS’ teams in APAC employ the Lean Six Sigma (LSS) Green Belt approach and EES planning processes, actions that conform with the IIP Indicator “Delivering continuous improvement.” IIP’s reaction being, “LSS is potentially transformative, not just in cost saving and efficiency, but in engaging and developing your people.”.

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 direct presence in 67 countries, and a global network spanning 120 countries, translates in top business rankings, #1 in France, #6 in Europe and #7 worldwide. In 2020, GEODIS accounted for over 41,000 employees globally and generated €8.4 billion in sales.

Filed Under: GEODIS

TT Club Selects Insurity’s Oceanwide Marine Suite to Accelerate its Digital Strategy, Increase Functionality, and Streamline Operations

June 22, 2021 by

As the most comprehensive global marine solution available, Oceanwide Marine Suite will help TT Club accelerate its digital strategy by providing a more enhanced user experience and greater functionality in its cargo insurance business

HARTFORD, Conn. – June 22, 2021 – Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs today announced that TT Club has successfully implemented Oceanwide Marine Suite for its cargo insurance business. TT is a leading provider of insurance and related risk management services to the international transport and logistics industry. This new implementation of Oceanwide Marine Suite will accelerate TT’s digital strategy by streamlining the cargo insurance policy configuration process, facilitating faster collaboration with brokers and clients, and enhancing customer offerings.

Headquartered in the U.K., TT offers comprehensive coverage for transport and logistics service providers across the globe, covering all types of liability in a rapidly diversifying market environment.  TT’s customers include the world’s largest container shipping lines, many of the busiest ports, maritime and intermodal terminals, freight forwarders, and cargo handling facilities. 

Insurity’s Oceanwide Marine Suite enables TT to meet the freight forwarding industry’s developing digital needs by sharing enhanced underwriting offerings with their cargo insurance clients. Oceanwide Marine Suite will allow TT to promote real-time collaboration between multiple parties to offer operational efficiencies in the management and administration of marine cargo insurance policies. Various tools within the suite allow users to rapidly process referrals and proactively manage exposures, with complete data transparency.

“After a review of potential technology providers, we felt that Insurity’s Oceanwide Marine Suite would deliver to our customers a modern, dynamic and responsive system,” said Kevin King, TT Chief Operating Officer. “The global transport and logistics sector is driving towards increased digitalization in a quest to improve trading standards and efficiency. In this environment, we believe Insurity to be a strong business partner for TT. The advanced technology represented in Oceanwide Marine gives our forwarders and their clients a system appropriate to current and future needs.”

“Insurity is excited for TT to accelerate their digitalization initiatives even faster as they take advantage of various integration capabilities that Oceanwide Marine Suite offers. They will evaluate risk more easily and improve underwriting results through access to better analytics and intelligence about account and portfolio profitability across a variety of exposure criteria,” said Syl Mathis, Chief Insurance Officer at Insurity. “TT’s customers gain a modern platform which has functionality to provide immediate coverage and go above-and-beyond in fulfilling the trading needs of their members.”

About Insurity

Insurity is a leading provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs. Insurity is trusted by 15 of the top 25 P&C carriers in the US and has over 200 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners. For more information, visit www.insurity.com.

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, with a mission to 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. 
https://www.ttclub.com/

Filed Under: TT Club
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