CONCESSIONS & INVESTMENTS

Container insurance: TT Club warning

19 years ago

The TT Club is working on an in-depth analysis of claims from terminals, in an effort to help prevent future losses. Results of this study will be published soon, it says – but meanwhile, incidents involving straddle carriers remain the chief area of concern.

Last year, the TT Club warned that the inability of ports in Europe, the US and elsewhere to keep pace with the relentless growth in Asian, especially China’s, shipping facilities and overseas trade was already leading to increased personal injury and handling equipment incidents. The new study will take this issue further.The TT Club, which provides property and liability cover for more than 2,000 port and terminal facilities worldwide, said last year that it feared an ever growing number of accidents, some fatal, would blight Western waterfronts unless ports could adapt to “unprecedented change”.

Chief executive Paul Neagle said that as long as port and terminal operators were unable to overcome their capacity expansion difficulties, there would be growing pressure on terminals and the working practices as they struggled to growing volumes through existing facilities.