Marine link
 

TT BOAT

TT Club Outlook Improved

TT Club’s improving financial position has been acknowledged by industry ratings agency AM Best, which has revised its outlook on the mutual insurer’s rating from ‘stable’ to ‘positive’. This latest recognition marks further progress toward the goal of regaining an ‘A-’ rating. In its press release AM Best affirmed a rating of ‘B++ (Very Good)’ and indicated that the change of outlook reflects an expectation that the current ratings could be reassessed once TT Club has demonstrated a consistent track record of strong earnings. TT Club’s 2004 record performance saw gross earned premiums rise by over 20% and the total surplus and reserves increase by 58%. AM Best also noted that as a leading insurer and risk manager for the international transport and logistics industry, TT Club has a strong business position in its niche market. Paul Neagle, TT Club Chief Executive, welcomed the fact that the AM Best assessment had confirmed the increasing financial strength of the Club. “The improvement in outlook means the Club has ascended a further rung on the ratings ladder,” he stated, “and I am confident that TT is well placed to deliver consistently strong earnings in 2005 and beyond.”


A.M. Best Awards TT Club "A-" Rating

TT Club, the leading mutual insurer in the international freight and logistics arena, has had its financial strength rating of A- (Excellent) re-affirmed by the US rating agency, A. M. Best.  TT’s issuer credit rating was also maintained at "a-" by the agency, which at the same time determined that the outlook for both ratings remains "stable." In a statement issued today announcing the Club’s ratings, A. M


TT Club's Reports Strong 2003

The TT Club, a provider of insurance and risk management services to the international transport and logistics industry, has reported another successful year for its financial year 2003. In its annual report to its Members, the Board highlighted improvements in the strength and quality of the balance sheet as well as the policy year combined ratio - the underlying operating performance. On the balance sheet, the Club reported a 14% increase in the total surplus


Bradley Appointed as New Director For TT Club e-Commerce Initiatives

The Through Transport Club, the insurance mutual for ship operators, stevedores, port authorities, transport and logistics companies and freight forwarders worldwide, has appointed Louise Bradley to the new position of director of e-commerce strategy. Based in London, the appointment highlights the growing importance of the TT Club's suite of Internet services, which include ClaimsTrac, eClaims and TTXpress.com. Bradley, a graduate in law from Queen's University, Belfast


Seminar Highlights Freight Liability in Russia

Kevin King

International freight insurer TT Club convened a special seminar at the recent conference on transport and logistics, Trans Russia in Moscow.  Lead by TT Club’s General Manager, EMEA, Kevin King and Kirill Berezov from the insurer’s long-established Russian network partner Panditrans, the seminar outlined both the changing nature of the transport operator’s liability in Russia and the idiosyncratic nature of insurance conventions applicable in the region.


Convention May Up Terminal’s Liability

A new United Nations convention on carriage contracts (“Rotterdam Rules”) will impact the liability of marine terminal operators when it comes into force, according to TT Club. The UNCITRAL “Draft convention on contracts for the international carriage of goods wholly or partly by sea”, now known as the Rotterdam Rules, has been submitted on 20 October 2008 to the International Legal Committee of the United Nations General Assembly


TT Club Pinpoints Risks for Logistics Operators

Phillip Emmanuel

The overwhelming majority of insurance claims analysed by TT Club have showed that costly damages and loss, as well as serious bodily injury can be prevented or significantly minimised by sensible and concerted risk management efforts. Speaking at this week’s TOC Container Supply Chain Asia Conference in Singapore, TT Club’s Phillip Emmanuel drew attention to the wide-range of causes leading to insurance claims by transport and logistics operators


Top Five Most Costly Insurance Claims

Image courtesy of TT Club

The TT Club has alerted the supply chain industry to a persistence of claims in a handful of loss types. The international transport, freight and logistics insurance provider said it has found that 66% of its claims by number and 62% by value over a five year period can be categorized into just five causes. The analysis, which was conducted on 7,000 insurance claims each costing more than $10,000 recorded between 2010 and 2014, totaling $425 million


Business on the Move: Educational Logistics Game

Business on the Move logo

Leading freight transport insurer, TT Club, apprises of its support for a unique learning initiative – 'Business on the Move'. The educational tool takes the form of a board game which is designed to be played at varying levels of complexity; suitable for primary and secondary school children as well as higher education students, management trainees and corporate continuous development schemes. TT Club sees the initiative as an imaginative means to educate and inspire young people in


Contamination: Primary Cause of Tank Container Claims

Causes of Claims involving Tank Containers: By Volume (2006 – 2014)

Freight transport insurer TT Club reveals detailed results of its claims survey highlighting tank container incidents: contamination accounts for nearly half with damage to tanks adding another third Speaking at the Asia Tank Container Organization’s General Meeting in Shanghai yesterday, TT Club’s Regional Director, Asia-Pacific Phillip Emmanuel outlined the major risk exposures facing the tank container industry


BRP’s Evinrude Welcomes New Dealers, OEMs

Courtesy : BRP’s Evinrude

BRP continues its North American expansion of the Evinrude sales network by signing 16 new dealers and four premium OEM boat builders to its portfolio – a clear indication of the excitement surrounding its Evinrude brand and the continued momentum of its industry-leading engines


Newport International Boat Show Announces Edson Awards

Logo

Newport Exhibition Group, owners and producers of the Newport International Boat Show,announced today the results of this year’s Edson Awards for Excellence in Portraying Company Image. Presented by Will Keene, chairman of Edson International


Capsized Migrant Boat: Egypt Arrests Crew Members

Photo: International Organization for Migration

Egyptian authorities have arrested four crew members of a boat carrying almost 600 migrants which capsized off Egypt's coast, killing at least 43, judicial sources said on Thursday.   The boat sank on Wednesday in the Mediterranean off Burg Rashid


JNPT Rolls Out Holding Yard Operations in 6 Hectare Land

Jawaharlal Nehru Port Container Terminal. Photo by Jawaharlal Nehru Port Trust

 Jawaharlal Nehru Port Trust (JNPT), India’s No.1 container port, has commenced holding yard operations in a six-hectare land at the Jawaharlal Nehru Port Container Terminal (JNPCT). approach roads to further ease out congestion and streamline the traffic to the terminal.   


Britain: EU Mission Should Turn Back Migrant Boats

A European Union naval force deployed in the Mediterranean should turn back migrant boats after they leave Libya and prevent them from reaching Italy, British Foreign Minister Boris Johnson said on Thursday.   Italy is on the frontline of Europe's migrant crisis, taking in more than 400


Vigor Delivers Two Pilot boats to M.E.

Image courtesy Vigor

Vigor expanded its growing portfolio of international sales with the delivery of two, 19m all-weather pilot boats to The Port of Duqm Company (PDC), SAOC, Sultanate of Oman. The Port has been undergoing a major multiphase expansion and the new pilot boats will play a key role in ensuring the


MN100: RIBCRAFT

(Photo: RIBCRAFT)

The Company: RIBCRAFT designs and builds safe, durable, performance oriented rigid inflatable boats (RIBs) that fulfill the most demanding military and professional applications. With over twenty-five years experience, RIBCRAFT provides high quality professional grade RIBs and inflatables for


Fishing Vessel Burns up in Maine

Coast Guard Petty Officer 3rd Class Cory Langston fights the boat fire from the Coast Guard 29-foot response boat in Hopkins Point Marina in Jonesport, Maine on Thursday, Sept. 8, 2016. The was no one aboard at the time of the fire. (U.S. Coast Guard photo by Stephanie Horvat)

A boat fire was extinguished Thursday off the coast of Jonesport, Maine. The was no one aboard at the time of the fire.   At about 6:12 a.m., watchstanders at U.S. Coast Guard Sector Northern New England received a call from the owner, who was on shore


44 Hanjin Ships Denied Access to Ports

Photo: Hanjin Shipping Co Ltd

 Some 44 of Hanjin Shipping Co Ltd's ships have been so far denied access to ports while 1 ship has been seized, Reuters reports quoting a company spokeswoman.   The 44 ships include instances where port service providers such as lashing firms have denied service


ASIS Delivers First 9.8m Amphibious RIB

Amphibious Craft (Photo: ASIS)

Following the success of the ASIS Amphibious RIBs 7.1 and 6.1m, and in response to popular demand; ASIS just developed, tested and delivered its biggest amphibious RIB ever manufactured yet; A 9.8 meter Black Rigid Inflatable Amphibious boat. Amphibious RIB Boat


Calm Seas, Libya's Lawless State Open Door for Migrant Flows

Calmer seas and Libya's lawlessness have opened the way for smugglers to ship thousands of migrants across the Mediterranean this week, in a striking reminder of how far Europe is from ending the migrant crisis.   In just four days, Italy's coastguard and European vessels pulled 13


Esvagt Makes Vestdavit MissionEase First Choice for Mission Bay

Unique MissionEase multi-boat handling solution (Photo: Vestdavit)

Norway-based boat system and davit-handling specialist Vestdavit has secured a breakthrough order for its unique MissionEase multi-boat handling solution for mission bays, under contract to offshore support vessel owner Esvagt. Multi-boat handling on the high seas will be a defining


MN100: Shock Mitigation

John Haynes (Photo: Shock Mitigation)

The Company: The company provides marine organizations, boat builders and equipment manufacturers with relevant subject matter expertise plus an independent overview of how this sector is rapidly changing.  For OEM boat builders and equipment manufacturers


Tuco’s New Arctic Workboat to Debut at SMM

Image: Tuco Marine

Danish producer Tuco Marine said it will reveal a new Arctic workboat daughter craft at next month’s SMM in Hamburg.   Many arctic patrol vessels, icebrakers and polar research vessels are currently under development and construction worldwide


Extreme Boat Lifts Installed in the Panama Canal

Photo: Golden Boat Lifts

When the Republic of Panama needed lifts for a pair of its service boats, it turned to Golden Boat Lifts for the supply of two custom-designed 7,000 lb. capacity Golden Elevator Lifts for use in the Panama Canal.   According to Golden Boat Lifts






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright