TT Talk - Review of top 10 risks for container terminals
TT Club continually seeks to understand the risks faced in the transport and logistics industry, providing relevant and targeted loss prevention advice to operators as appropriate. This article focuses on the findings of recent analysis into the risks faced by container terminals.
TT Club provides insurance to port authorities, terminals and stevedores in almost half of the world’s top 100 ports globally. As a result, it is well placed to analyse incident data, providing commentary and advice on trends and loss prevention actions.
This particular analysis focuses on the top 10 risks in container terminals, based on experience over the period 2014 to 2018. The analysis of these top 10 risks account for 78% of the cost of container terminal insurance claims, covering both assets and liabilities. It is sobering that many incidents are preventable with better training, systems and procedures and/or technologies.
This article looks at each risk in descending value order.
At the British International Freight Association (BIFA) Annual Awards Lunch in London last month, the global freight insurance specialist, TT Club presented the European Logistics Award to UK-based, independent freight forwarder The PSL Group.
TT Club and BSI Supply Chain Services & Solutions have teamed up again to produce a full year analysis of cargo theft, together with some further loss prevention commentary to assist those considering how to combat this on-going threat.
The recent action against Qatar by a growing number of countries including the UAE, Saudi Arabia, Egypt and Bahrain on 5th June 2017 is likely to affect a number of TT Club Members as they undertake their normal business operations. The situation appears more likely to affect the TT Club's NVOC, Freight Forwarder, Container line operator and logistics company Members, but Ports and Terminal operator Members could also be impacted in respect of affected cargos passing through their facilities. At this stage it is too early to tell.
