TT Club Pinpoints Operating Risks for Dubai Forwarders

MaritimeProfessional.com
Tuesday, October 22, 2013
David Phillips (middle), Chairman of the NAFL and CEO of Freight Systems LLC presents Julien Horn (left) and Andrew Kemp (right) from TT Club with an award in recognition of their expertise.

 


  In early October the UAE’s National Association of Forwarding and Logistics (NAFL) hosted a workshop for its members as part of its AGM proceedings. The group invited freight transport insurance specialist TT Club to present an overview of the risk profile that freight forwarders and logistics operators in the region are experiencing and the insurance cover available to mitigate such risk.

Held at Dubai’s Chamber of Commerce and attended by some 140 representatives of the UAE’s freight transport community, the comprehensive workshop was run by TT executives Andrew Kemp, Regional Director Europe, Middle East & Africa; Julien Horn, Senior Underwriter with special responsibility for the Middle East and Brian Reckerman, Senior Claims Handler of TTMS Gulf based in Dubai.

The Club, which celebrated its 45th anniversary this year, insures over 900 transport operators throughout the world. Drawing on this wealth of experience, the three presenters outlined how the demands on freight forwarders from their customers are changing rapidly from the traditional organization of international movement of goods. Increasingly forwarders are providing involved logistics services such as warehousing and distribution, procurement of additional product for sub-assembly and packaging and even software uploading; opening them up to the extended liability that exists as a consequence. In addition, forwarders are increasingly accepting contractual responsible for the full value of goods throughout lengthy and involved supply chains.

TT warned that these demands often put an onerous risk on the forwarder, who is under considerable competitive pressure to accept such liability as a carrier.

Such risk can be further compounded when employing subcontractors, as obtaining their acceptance of the same risk is difficult. Indeed the workshop also underlined the difficulty forwarders in the Middle East have in sourcing reliable trucking companies that are fully insured for liability risk. TT Club applauded the initiative put in place by the NAFL to improve this situation by establishing insurance compliance standards for designated ‘safe operators.’ Until compliance is fully adopted by the region’s haulage industry adequate insurance cover for many transport operators will remain a problem.

David Phillips, Chairman of the NAFL and CEO of Freight Systems LLC thanked the TT Club representatives for the informative workshop and presented them with an award in recognition of their expertise.
 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Davie Building LNG-powered Ferries

Canadian shipbuilder Davie held a keel laying ceremony for MV Armand-Imbeau II, marking the beginning of the hull assembly for this first of two sisterships under

News

Ferus Smit to Launch Newbuild Bulker

Ferus Smit will launch newbuild bulk carrier Arklow Breeze on Friday, March 20 at Westerbroek.   Arklow Breeze is the sixth and last vessel of a series to be

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

This Week's Top Stories

The top stories this week covered everything from a DP system failure, a facelift for a WWII torpedo boat, and some mysterious tankers off the coast of Philadelphia.

Logistics

LA, Long Beach Ports Cooperation Approved

Federal regulators approve expanded working pact for Port of Long Beach and Port of Los Angeles to cooperate on congestion relief   The ports of Long Beach and

Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia.

Asia-Europe Container Freight Rates Fell 6.5 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 6.5 percent to $938 per 20-foot container (TEU) in the week ended Friday,

Middle East

Keels Laid for Two Aluminum OSVs

Triangle Marine Services and Marine Core & Charter host keel laying ceremony for two Aluminum Fast Offshore Support Vessels   UAE-based shipbuilder Triangle Marine

Propulsion Systems Ordered for Qatar Coastguard Vessels

Rolls-Royce waterjets and MTU diesels to power 17 new patrol boats for the Qatar Coastguard   Rolls-Royce has secured a £15.8 million contract to supply Rolls-Royce

Abu Dhabi Ship Building to Deliver 3 UAE Warships by 2016

Abu Dhabi Ship Building Company will deliver three Baynunah warships to the United Arab Emirates Navy by 2016 and is in discussions with other buyers to sell more, its chief executive said on Monday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2202 sec (5 req/sec)