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


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


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.


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


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


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


Volvo Penta to Power New NYPD Response Boat

(Image: Vigor)

The newest New York Police Department (NYPD) response boat currently under construction will be powered by Volvo Penta diesel inboard engines from Pacific Power Group, a first for the NYPD fleet.   The fifth Response Boat - Medium C (RB-M C) built by Vigor will join the fleet of RB-M


UK Partners to Launch Autonomous Vessels Testing Service

(Photo: BAE Systems)

The U.K.'s first maritime autonomous systems testing service is set to launch later this year.   BAE Systems said it has been awarded £457,000 (approximately $594,700) in grant funding from the Solent Local Enterprise Partnership (LEP) to design and deliver the U.K


Z-Drive Collaboration on the Inland Waterways Expands

(Photo: ACBL)

American Commercial Barge Line’s leadership and early adoption of ZF Marine’s z-drive propulsion technology underscores a growing trend on the inland waterways.    American Commercial Barge Line (ACBL) has been around a long time – since 1915


New Multi-mission Patrol Boat for Montauk, NY

(Photo: Silver Ships)

A new 38-foot multi-mission patrol boat for Montauk, N.Y. will be officially dedicated during a “splash down” ceremony on July 26.    Delivered by aluminum boat builder Silver Ships, Inc., the vessel is a multi-agency


Saudi Navy Detains IRGC Boat

The Saudi navy has captured three members of Iran's Revolutionary Guard Corps (IRGC) from a boat seized last week as it approached the kingdom's offshore Marjan oilfield, the Saudi information ministry said on Monday.   Relations between the two countries are at their worst in years


More than 120 Migrants Feared Dead after Boat's Motor Stolen

More than 120 migrants are feared to have died at the weekend when the motor of their boat was stolen, causing it to sink, the International Organization for Migration (IOM) said, citing testimony from survivors brought to Italy.   Two Sudanese men who arrived with around 1


Marine News Boat of the Month: June 2017

Image: Elastec

Elastec’s Inlander RUB: a versatile spill response workboat   The Elastec Inlander river utility boat (RUB) is a unique concept. But, Elastec already manufactures many other response and utility craft for this market. What prompted the internal effort to create such a craft was that


North River Boats: Delivering Flexibility & Customized Output

(Photo: North River Boats)

Diversification is the key at Oregon-based North River Boats. Listening closely to the customer’s needs recently won the day on a multi-hull U.S. Navy contract, but that’s not all that’s happening in Oregon.   Roseburg, Ore


Metal Shark Wins $54 Mln US Navy Contract

Image: Metal Shark

Louisiana-based shipbuilder Metal Shark said it has been awarded a contract worth up to $54 million from the U.S. Navy to build Near Coastal Patrol Vessels (NCPVs) for U.S. partner nations through the Department of Defense Foreign Military Sales (FMS) program.  


Search Continues after Colombia Tourist Boat Accident

Rescue workers searched on Monday for 13 people believed to be missing after a tourist boat sank the previous day in a reservoir in north-central Colombia, killing seven.   The cause of the accident was still unclear, officials said. Use of the Penol-Guatape reservoir


Three Dead, Thousands Rescued in Seas Off Libya

Three migrants died in the Mediterranean on Monday night, a German aid group said, during Italian-led rescue operations in which thousands more were pulled to safety from rickety boats. About 5,000 migrants were picked up off the Libyan coast by emergency services, Italy's navy


Cargo Ship Runs Aground off Virginia

 The U.S. Coast Guard said it is monitoring a 586-foot Thai-flagged cargo vessel that ran aground off Sewells Point in Norfolk, Via., Thursday.   Watchstanders at the Sector Hampton Roads Command Center in Portsmouth received a call at 12:50 p.m


It All Flows Downstream

Omni Catamaran cleaning Chicago waterway (Photo: Elastec)

Oil spills, trash, debris, sediment, chemicals: how do we keep our waterways clean?   If an oil spill happens on water, the Oil Pollution Act of 1990 (OPA90) has very clear rules on who is responsible for paying for cleanup costs. Most oil spills can be traced to the spiller – a


Austal Opens Cairns Office

Hon Warren Entsch MP, Member for Leichardt joined Austal’s Vice President, Defense RADM (Retd) Davyd Thomas AO CSC to open Austal’s office in Cairns Queensland 10th July 2017. (Photo: Austal)

Austal Australia was joined by Warren Entsch, Federal Member for Leichardt, to officially open its vessel sustainment office in Cairns, the latest effort in the expansion of Austal’s national footprint.   The shipbuilder said its new Cairns sustainment facilities will employ nearly 30


New Passenger Ferry for Governors Island

(Image: Blount Boats)

 U.S. shipbuilder Blount Boats together with naval architecture firm Elliott Bay Design Group (EBDG) has been awarded the contract to design and construct a new passenger-only ferry for Governors Island, New York by The Trust For Governors Island.  






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