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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


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


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


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


Brown Appointed as Asia Pacific Regional Director for U.K. P&I Club

Christopher Brown has been appointed Asia Pacific Regional Director of the UK P&I Club from October 1st. He will also be responsible for providing services to all Thomas Miller’s managed Clubs, particularly UK P&I, TT, UK Defence, ITIC and the Lloyd’s insurer Dex. Based in Hong Kong, Brown will head Miller’s regional management team, leading the offices in the region and supported by experienced managers Nick Sansom in Singapore and Barton Phillips in Sydney.


Need for Latin American Transport Infrastructure Investment Highlighted

TT Club logo

TT Club’s Senior Underwriter, Dan Negron, speaking at the recent TOC Americas Conference in Miami outlined his views on future Latin American trade growth and the pressures that this will create on the region’s transport infrastructure. Excerpts from his address follow: “Two examples of robust economies are Colombia and Peru.  The latter has grown its export trade by a multiple of five over the last decade


TT Club Shows Strong YTD Performance

The TT Club, an international transport and logistics insurance provider,  released a trading update for the period 1 January - 31 August 2014. Charles Fenton, Chief Executive of the TT Club, said: “Low claim levels have continued through from 2013 which have contributed to TT Club’s strong financial performance in the year to date. We have obtained a mid-year combined ratio which is below 100% and slightly below the Board’s requirement


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


Towing Vessel Sinks off Oahu

Coast Guard crew members stand with 11 survivors of the Tug Nalani at Coast Guard Station Honolulu. (U.S. Coast Guard photo by Kevin Cooper)

A 95-foot towing vessel, Nalani, sank approximately two and half miles west of Barbers Point Harbor, Oahu, Thursday, the U.S. (USCG) Coast Guard reported. The 11 people on board Nalani were rescued safely.   The pilot aboard the sinking towing vessel placed a call at 3:13 p.m


RUMBA Sails with 'Spirit of Malabo' Onboard

Antillean Marine Shipping Corporation Puts Rower Back On Course

  A container carrying the twenty-four foot Brazilian built ocean rowboat, Spirit of Malabo, left the Port of Cap Haitian on Saturday en-route to Port Everglades Terminals (PET) in Florida aboard Antillean Marine Shipping Corporation vessel RUMBA.


InterMoor Completes Juniper Mooring Installation Contract

Photo courtesy of InterMoor

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation installation campaign offshore Trinidad and Tobago to date.   InterMoor provided engineering and design services to


Bollinger Promotes Remont to VP

Chris Remont, Vice President and General Manager, Lockport New Construction division (BLN).

Bollinger Shipyards President and CEO Ben Bordelon announced today another key internal promotion designed to enhance the strategic value of the Company.   “I am pleased to announce the promotion of Chris Remont to Vice President and General Manager of our Lockport New Construction


Paddle Wheel Riverboat for Sale

Photo courtesy of SBMA

A 260-foot fully operational paddle wheel riverboat, recently used as a large casino, is available for sale by negotiation.   Asset management company Stuart B. Millner & Associates (SBMA) said it is currently accepting offers for the vessel before making plans to sell it through an


Boston Whaler Holds Ribbon Cutting Event

Boston Whaler celebrated major expansion with an  exclusive ribbon-cutting event

  In 2014, Boston Whaler broke ground on a new era in its history, introducing its largest model ever with the new 420 Outrage. On Jan. 13, 2015, Whaler celebrated the expansion to its facility that makes production of the 420 Outrage possible: the addition of nearly 60


Palfinger Adds Winch Line with NDM Acquisition

Photo: Palfinger Marine

Palfinger Marine acquires Norwegian Deck Machinery AS, expands product portfolio with new deck winches    Palfinger Marine has expanded its product portfolio with the acquisition of Norwegian Deck Machinery AS (NDM), stating NDM’s position within the design and development of


22 Dead as Tug Capsizes in Eastern China

A total of 22 people were confirmed dead after a tugboat with 25 onboard sank on the Yangtze River in east China's Jiangsu Province on Thursday afternoon. Rescuers found the body of the last missing person in the tug's cockpit at around 2pm Chinese Time according to the Jiangsu Maritime Safety


21 dead, 1 missing after tug sinks in Yangtze

Tug boat tragedy

  Chinese authorities have confirmed that 21 people were killed and one is still missing after a tug boat undergoing sea trials sank in the Yangtze River, the state-run Xinhua news agency reported on Saturday. The boat had 25 people on board when it sank on Thursday and three were rescued


Nichols Brothers to Build Vessel for American Samoa

Image: Nichols Brothers Boat Builders

Ice Floe, LLC dba Nichols Brothers Boat Builders (NBBB) has been contracted by the Government of American Samoa to build a multipurpose vessel to operate in the warm waters of the South Pacific primarily between Pago Pago and the Manu’a Islands


Seakeeper Poised for Growth in 2015

Image: Seakeeper

Seakeeper reported record growth in 2014, noting that it is poised to continue the momentum through 2015 Shipments of gyros increased 46% over 2013 as more boat manufacturers added Seakeeper as standard and optional equipment on new builds. A sizable portion of its sales also came from refits


India, Sri Lanka Exchange Fishermen at Maritime Border

Picture: Indian Coast Guard

 Sri Lanka and India exchanged the fishermen who were detained in each other's jails for trespassing into their territorial waters.  A total of 15 Indian fishermen, who were in the custody of Sri Lankan authorities, reached Karaikal


Malta Rescues 80 Migrants, 20 Feared Dead

A Maltese patrol boat rescued about 80 migrants in a drifting dinghy off the island early on Thursday, but another 20 people were feared to have perished. Along with southern Italy, Malta is one of the main points of arrival for migrants attempting the crossing from North Africa into Europe.


Vane Brothers Orders Two Tugs from Chesapeake

Sister ship to Hull 123 and 124 (Photo courtesy of Chesapeake Shipbuilding)

Chesapeake Shipbuilding has signed a contract with Vane Brothers to build two new tugs, marking the 13th and 14th tugs that Chesapeake will have built for Vane Brothers in the last several years. The two new tugs will fit into Chesapeake’s existing order book


US Boating On High Speed Recovery

 Picture: National Marine Manufacturers Association

 Nearly 89 million Americans went boating last year, one of the largest boating participation figures on record. And the boat sales last year increased to $37 billion, a 3 percent increase from the year before. These figures are released by the National Marine Manufacturers Association






 
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