People traffickers target ship agents, warns ITIC

International Transport Intermediaries Club has warned port agents to inform their regular principals of port fee and tariff increases

The International Transport Intermediaries Club (ITIC) recently settled a claim brought against a ship manager for failure to maintain its obligations under a technical management contract, leading to liability for costs incurred when the vessel was denied permission to berth by port authorities in Australia

International Transport Intermediaries Club has warned that the wording of instructions can potentially widen the scope of liability for marine service providers, citing the recent case of a marine surveyor sued for €1.56M for alleged poor onboard stowage of a cargo

The International Transport Intermediaries Club says that fraudulent diversion of funds is on the increase in the maritime sector

Soon after reporting a solid performance in 2011 despite the challenging trading conditions, it was disclosed that the TT Club (Through Transport Mutual Insurance Association) had captured Denmark’s DFDS group as a member.

The shipping industry is in the middle of the biggest global recession seen in the past 60 years. Shipowners and charterers went from boom to bust in an incredibly short time; commodity prices and ship values plunged ever downward over a few months; ocean carryings dropped dramatically as trade slowed to a trickle on many routes; and with little demand for Chinese and American exports, port and terminal operators saw a huge decline in activity and revenue.