Cargo theft can occur anywhere along the supply chain affecting local logistics, transporters, storage yards, groupage operators, LCL consolidators, ports, depots, terminals, insurance, carriers and freight forwarders equally..
BSI Supply Chain Services and Solutions assesses that companies lose more than an estimated $76 million in UK alone due to cargo theft highlighting the seriousness of this issue..
TT Club one of the leading providers of insurance and related risk management services to the international transport and logistics industry and BSI have come together yet again to release the second edition of their report on global cargo theft covering the full year of 2018..
2019 seems to be fast becoming the year of maritime disasters.. There have been several maritime disasters one after the other in the recent years, especially in 2019.. In the latest incident on the 25th of May, a fire broke out on board a container ship KMTC Hong Kong, at the Laem Chabang port in Thailand..
It has been reported that a fire erupted on the ship triggering a blast which left at least 25 workers suffering from smoke inhalation and other injuries, forcing officials to evacuate workers and temporarily close three piers..
224 days to go as of this post before #IMO2020 comes into effect.. I wrote recently about an open letter to IMO Member States by NGOs which states that the shipping industry must take appropriate measures to address climate change urgently..
As an initial step, these NGOs expressed their strong support for the IMO’s proposal to regulate ship speeds across various ship type and size categories.. In the letter, the NGOs said their preference would be to set maximum annual average speeds for container ships, and maximum absolute speeds for the remaining ship types, which take account of minimum speed requirements..
Of course, this was not welcomed by all, least of all by container carriers as it would result in them having to increase their fleet size to meet the delivery schedules imposed on them by the trade.. As per the carriers, this would defeat the purpose of trying to reduce GHG (greenhouse gas emissions) emissions..
The letter said that this regulation should be implemented as soon as possible and the obligation for compliance should be placed both on shipowners and operators, including charterers and called on all parties at the forthcoming IMO’s Marine Environment Protection Committee (MEPC74) to support this move..
Well, #MEPC74 has come and gone but there has been no agreement or deal on any of the proposals put forward to reduce GHG emissions..
Further to the various articles I have posted on this site about the fire damaged container ship Yantian Express, readers may be happy to hear that the ship has finally reached its destination..
Yantian Express a 7,510-TEU vessel operated by Hapag Lloyd suffered fire on board in early January while on its way from Colombo, Sri Lanka to Halifax, Canada.. The ship was carrying around 3,875 containers at the time of the incident of which 320 containers were a total loss..
Yantian Express finally reached Halifax on the 20th of May 2019..
Blockchain seems to have become a prolific “enabler” of businesses, particularly in the shipping and freight and trade industry..
Whether in its use by Banks and Shippers to create Trade Finance documents; or creating and transmitting smart bills of lading; or setting up a blockchain-based marketplace app for trading in coffee; or making documentation easy for ports; or ensuring prompt delivery of mandarins for the Chinese New Year; Blockchain is making its presence felt quite rapidly in our industry..
Many shipping lines, ports, financial institutions and other private entities are using Blockchain and testing it in many different ways through many pilot projects..
Saudi Customs became the latest entity to successfully test drive its first shipment powered the blockchain technology..
The Baltic and White Sea Conference was originally founded in Copenhagen in 1905 and is the world’s largest international global shipping association with more than 2,100 members including shipowners, operators, managers, brokers and agents..
The aim of BIMCO, as it is commonly known today, is to produce flexible commercial agreements and standard maritime contracts with clarity, consistency and certainty.. These include modern contracts tailored to specific trades and activities.. These contracts allow members to manage contractual risk..
BIMCO also works closely with many other influential organisations across the different parts of the maritime industry – from owners to operators, ports to ship builders, brokers to equipment manufacturers, and insurers to classification societies.. Such capability is crucial in developing the right environmental solutions for the shipping industry..
It is run by a board of directors and for the first time in 114 years, the President of BIMCO of the board will be a female – Ms.Şadan Kaptanoğlu..