Recent changes to regulations in Russian law now make it possible for forwarders and road hauliers to access full liability cover, similar to that enjoyed by those in the global supply chain.
However, most insurance products on the market don’t offer comprehensive protection.
Theft of cargo in transit remains highest among all types of cargo theft in 2020. This is one of the trends identified in the annual cargo theft report released by … Read more here..
The leading international freight transport and logistics insurer, TT Club has drawn attention to action required to reduce perishable cargo losses and refrigerated container failures and damage.
Analysis of the specialist insurer’s claims records for transport operators over the past three years shows temperature-controlled incidents ranking in third place.
Almost 30% of these incidents involved a miscommunication of operational instructions on care of the cargo with a further 23% down to temperature setting errors. Reefer equipment failure or damage accounted for a quarter of the reefer claims.
The prevalence of cargo theft incidents continues to have a material impact on stakeholders in the supply chain in South Africa.
Analysis of recorded incidents, increased data sharing agreements, collaborations, and widespread dissemination of findings all serve to improve our understanding of the underlying risks.
Throughout 2020, several cargo theft trends developed in South Africa. The threat and violence involved with cargo theft hijackings in South Africa are historically the primary concern for supply chains in the region.
In addition to historical risks and trends, the first half of 2020 saw an increase in thefts from facilities and theft locations diversified between the first two quarters of 2020, reaching the Eastern Cape and Western Cape.
Additionally, food and beverage and medical supplies saw an elevated risk throughout the start of 2020. Understanding these developing risks, coupled with the continual threat of in-transit operations in the country, and how to mitigate the impacts they may have on your organization is crucial in building a truly resilient supply chain.
These are some of the highlights of a new report by TT Club and BSI on South Africa’s ongoing vulnerability to cargo theft as well as the trends during the first half of 2020.
Five international freight transport and cargo handling organisations are collaborating on the production of new guidance on packing standards for freight containers and other cargo transport units. The Container Owners … Read more here..
Leading freight transport and logistics insurer TT Club is reflecting the evolving digital landscape in its new logo and revamped website. Increased accessibility to data, information and streamlined processes are the key aims of the insurance specialist’s investments in digitisation.
Although COVID-19 has accelerated digitalisation, TT had already embarked on its path to digital transformation.
TT Club has created and released a StopLoss document as a good practice guide aimed at all stakeholders in the tank container transport chain..
As I wrote in my previous article about the importance of proper lashing of containers onboard ships, there is increased concern and focus on the safety of the ship, its crew and the cargo..
The concern is especially amplified considering the many maritime disasters that have happened in the last few years, some of which have been reported in detail on this site..
A few of the incidents that involved containers falling of a ship have been attributed to the lashing of containers onboard or lack thereof..
Considering the intense strain that the extent and pace of growth in container volumes has placed on a wide range of operational procedures and the physical hardware employed to handle these volumes, the Thomas Miller managed insurance mutuals, container freight specialist TT Club and protection & indemnity insurer, UK P&I Club organised a Webinar to discuss the diverse range of factors important to safe container ship operations and the security of the container stacks they carry..
Here are the details..
Incorrect cargo details, misdeclaration of cargo and its details has been the bane of many shipping lines over the years..
The consequences of cargo and weight misdeclaration were so severe that the IMO had to implement SOLAS VGM regulations..
However there are still several incidents of such cargo misdeclaration including hazardous goods which have caused several maritime disasters..
In this article, Peregrine Storrs-Fox, Risk Management Director of TT Club writes about the importance of declaring correct cargo details and consequences of cargo misdeclaration..
The introduction of the freight container revolutionised the carriage of cargo in the supply chain, permitting large volumes of cargo to be lifted from ships without the need for slings, nets or platforms. But the container brought its own problems that did not at first manifest themselves.
The system is fundamentally reliant on the integrity of parts that may not regularly be scrutinised in operation.
But, is the current inspection regime for containers good enough..?? Read the discussion from TT Club..
The TT Club addresses this issue in great detail as per their article below.. The safety of containers was initially addressed when there were tens of thousands of units. Now, … Read more here..