Ports critical for growth in Africa

Ports critical for growth in Africa

Ports critical for growth in Africa

Sub Saharan Africa must invest more in its ports infrastructure if it is to successfully grow economies, according to a new report. PwC analysis shows that a 25% improvement in port performance could increase GDP by 2%, demonstrating the close relationship between port effectiveness and trade competitiveness. However, it warned that with growing congestion in many African ports, Africa runs…

Fire prevention on container ships will be focus at IUMI as Maersk Homan loss likely to break records

Fire prevention on container ships will be focus at IUMI as Maersk Homan loss likely to break records

Fire prevention on container ships will be focus at IUMI as Maersk Homan loss likely to break records

Fire prevention on container ships is likely to dominate proceedings at the International Union of Marine Insurers (IUMI) spring meeting in Hamburg, Germany this week after Danish shipping giant Maersk suffered a second fire onboard one of its mega container vessels in the space of two weeks. The latest fire occurred below deck on the containership Maersk Kensington as it…

Senegal and Belgium team up for port development

Senegal and Belgium team up for port development

Senegal and Belgium team up for port development

Antwerp and Dakar port authorities have signed a five-year deal to strengthen their relationship and trading ties. Antwerp, the second-largest port in Europe, said it was seeking to reinforce its historic position as leader on the coast of west Africa, while the authorities at the Senegalese port of Dakar view the collaboration as a way to position it as the…

Marine piracy numbers dip to 22-year low: IMB

Marine piracy numbers dip to 22-year low: IMB

Marine piracy numbers dip to 22-year low: IMB

The number of piracy and armed robbery attacks on ships reached a 22-year low in 2017, with just 180 incidents recorded by the International Maritime Bureau (IMB), down from 191 incidents in 2016 and 246 in 2015. In its annual report, the IMB says 2017 saw the lowest number of attacks since 1995, although it warns against complacency with several…

Piracy attacks down, but IMB identifies areas of concern

Piracy attacks down, but IMB identifies areas of concern

Piracy attacks down, but IMB identifies areas of concern

Piracy and armed robbery attacks against ships hit a five-year low during the first nine months of this year, with a total of 121 incidents recorded by the International Chamber of Commerce’s International Maritime Bureau (IMB). However, the IMB said there is growing concern over attacks in the Gulf of Guinea and southeast Asia. The IMB’s latest piracy report also…

Cargo theft behind 10% of TT Club’s claims costs as problem persists for insureds

Cargo theft behind 10% of TT Club’s claims costs as problem persists for insureds

Cargo theft behind 10% of TT Club’s claims costs as problem persists for insureds

Cargo theft accounted for 10% of all claims recorded by transport and logistics insurer TT Club during the past 10 years, and continues to cause considerable loss to insureds and their insurers. Mike Yarwood, senior loss prevention executive at TT Club, said cargo theft is widespread. As well as a financial loss, cargo theft damages reputation and disrupts the supply…

Supply chain a strategic risk

Supply chain a strategic risk

Supply chain a strategic risk

 With business interruption cited as the number one risk by risk professionals the world over in the annual Allianz Risk Barometer for four consecutive years, it is no wonder supply chain risk remains high on the risk agenda. Commercial Risk Africa recently held a one-day forum in Johannesburg, together with the Global Transport Asset Intelligence Bureau, as Liz Booth reports…

Insured risks escalating  as supply chains grow  in complexity

Insured risks escalating as supply chains grow in complexity

Insured risks escalating  as supply chains grow  in complexity

  Increased incidence of natural disasters and accumulation of risk have pushed up global insured losses Supply chain is a global issue. More than 80% of the world’s goods are transported by sea, whether that is the raw commodity or the finished article. While Sub Saharan Africa may not be the biggest region in terms of imports, it is often…

Risk managers and supply chain must work together

Risk managers and supply chain must work together

Risk managers and supply chain must work together

Better communication within organisations can mitigate the issues of supply chain risk, delegates at Commercial Risk Africa’s recent supply chain event in South Africa heard   The breakdown of any supply chain causes a major threat to every business along the route but, too often, separate parts of the organisation are not communicating fully, ultimately increasing that risk significantly. As…

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