TT Club Applauds Success in Logistics Innovation

MaritimeProfessional.com
Monday, January 20, 2014

TT Club, which provides liability, cargo and property cover to freight forwarders and logistics companies, once more observes that innovation in technological capabilities and tailored supply chain processes is essential for logistics companies to thrive in a sustained competitive environment.

A long-term supporter of the British International Freight Association (BIFA) Awards, TT Club sponsored the 2013 European Logistics Award. TT Club’s Development Director for U.K. and Ireland, Brian Sullivan, was part of the judging panel that employed a stringent vetting process to find the most deserving entry. This year the winner is DSV. The award was presented by Sullivan to DSV's Chris Malyon at a ceremony in London on Thursday, January 16.

The club said its detailed knowledge of its own members' supply chain services has convinced Sullivan that the proliferation of innovation in the sector and a trend away from rate-driven commoditization is a very real phenomenon.

“Many in the freight transport industry feel that pressure on rates from customers has shorn the operator of the necessary resource to deliver the added-value elements that distinguishes logistics from the straightforward ‘A to B’ transportation of freight. As a result of my own and the Club’s experience, I would contest this view,” commented Sullivan.

TT Club said it is seeing more extensive services being provided by its customers. Many companies that in the past offered traditional freight forwarding now take on a much higher degree of supply chain risk and sustain greater liability by providing increasingly complex and sophisticated services. The trend is however seen as positive. The increased complexity of service offerings and the ingenuity of operators in designing alternative supply chain solutions provides opportunity for new entrants as much as established logistics companies.

According to the TT Club, it recognizes the need to support and reward quality innovation in the industry and has been a sponsor of the BIFA awards since their inception nearly twenty years ago. By the very nature of the insurance services it provides, the club is at the heart of the supply chain industry and consequently, is able to monitor the dynamic trends that are always at play as logistics operators strive to improve their service offerings to meet market demands.
 


People & Company News

MN100: Klüber Lubrication NA LP

The Company: Klüber Lubrication is one of the world’s leading manufacturers of specialty lubricants, offering high-end tribological solutions to virtually all industries and markets worldwide.

Grand Bahama Shipyard Adds Four Executives

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four

MN100: Voith Turbo

The Company: Voith Turbo specializes in the design, manufacture and servicing of high performance driveline equipment. From drive components to electronic drive systems,

News

Big Tankers' Need for Retrofit Slows Use of New Panama Canal

The promise that some oil traders and brokers saw for an expanded Panama Canal to become a new route for large tankers will take longer to realize than expected

Tough Twins: New Fireboats for Port of Long Beach

Canada based naval architect and marine engineering firm Robert Allan Ltd. is a leading designer of high-performance response vessels of many types and in particular,

USCG Evaluates Comms Equipment in Alaska

Coast Guard Research and Development Center evaluates state-of-the-art communications equipment and Next Generation Incident Command System in Alaska   At nearly 663,

Intermodal

Indian Shipping Seeks Road Fund for Development of Waterways

The Shipping Ministry of India has mooted a proposal to utilize part of the fuel cess collected for building national highways for expansion of National Waterways as well.

NordLB to Shed Shipping Loans to KKR

German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from

DP World H1 Profit Soars on Acquisitions

DP World, one of the world's largest port operators, reported a 50 percent leap in net profit for the first half of this year on Thursday, helped by the acquisitions

Insurance

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

Hong Kong Shipping Group Wants Aid to Arrested Ship's Crew

The Hong Kong Shipowners Association (HKSOA) on Thursday called on the city's authorities to provide assistance to the crew of a Hong Kong-flagged coal ship off

Grounded Bulk Carrier Refloated in Washington

The U.S. Coast Guard is responding to an incident involving a motor vessel that grounded in the Columbia River near Skamokawa, Washington, Friday night.   The motor vessel Rosco Palm,

Logistics

Portland Auto Exports Drive ConnectOregon Grant

The Oregon Department of Transportation has awarded a ConnectOregon grant of $2.6 million to the Port of Portland along with tenant Auto Warehousing Co. to fund

TSA Boosts Maritime Security in a Big Way

Though most visible to the general public for its work at America’s airports, the U.S. Transportation Security Administration (TSA) also helps to secure the country’s

Indian Shipping Seeks Road Fund for Development of Waterways

The Shipping Ministry of India has mooted a proposal to utilize part of the fuel cess collected for building national highways for expansion of National Waterways as well.

 
 
Maritime Careers / Shipboard Positions Maritime Security Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.1700 sec (6 req/sec)