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TT Club Reports a Stable Performance Despite Challenging Conditions

Leading Insurance provider to the international freight transport industry, TT Club has published a mid-year trading update for the eight-month period 1 January – 31 August 2015.

London, 8 October, 2015


  • US$116 million gross earned premiums
  • Total assets of US$492.8 million
  • Total surplus and reserves US$177.9 million
  • AM Best rating affirmed as A- (Excellent) with a Stable outlook
  • Return to normal levels of large claims
  • Forecast 2015 combined ratio of 93.8%

Charles Fenton, Chief Executive of the TT ClubCharles Fenton, Chief Executive of the TT Club, said: “the Club has had a good, stable first eight months of the year in spite of the on-going challenging insurance market conditions and a return to more normal levels of large claims than experienced in 2013 and 2014.”

The general environment in world trade during the last year as reported through Members’ turnovers has been slightly above the average seen in recent years, which, together with good new business acquisition, bolsters premium levels. The Club continues to benefit from excellent business retention. These positive effects are, however, counter-balanced by factors depressing premium rates, particularly resulting from low claims levels flowing from good Member records. As a result, gross earned premium for the period under review was US$116 million, a small reduction of 4.4% compared to the same period last year.

“The performance of attritional claims has been largely as expected,” continued Fenton, “Not surprisingly given our successful implementation of a strategy to rebalance the Club’s underwriting book.” However large claims have increased in number, Fenton reporting, “There are now seven incidents above US$1 million in the year, including claims arising from the explosion in Tianjin in August.” It is anticipated that this experience of increasing claims will result in a combined operating ratio marginally higher than in 2014, but still healthy.

AM Best carried out its annual assessment in May and, for the ninth successive year, the rating was affirmed as A- (Excellent) with a Stable outlook. In his review statement Fenton commented, “Best continue to recognise the support the industry demonstrates for the Club and noted the results of the customer satisfaction survey in 2014 which were the highest ever achieved.”

TT Club’s continuing investment in loss prevention includes detailed claims analysis from which derives risk management advice for Members and the industry at large. Safety issues remain of primary concern and major resource is currently focused on the question of verified gross mass (VGM) of packed containers, which becomes mandatory worldwide on 1 July 2016. The Club is proactively ‘teasing out’ the implications for each party in the global supply chain.

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Notes to Editors

TT Club

The TT Club is the international transport and logistics industry’s leading provider of insurance and related risk management services.  As a mutual insurer, the TT Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.

Customers include some of the world’s largest shipping lines, busiest ports, biggest freight forwarders and cargo handling terminals, to companies operating on a smaller scale but whose operations face similar risks. TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Operators, Marine Terminals, Stevedores, Port Authorities and Ship Operators.

The TT Club is managed by Thomas Miller.

Thomas Miller is an independent and international provider of insurance, professional and investment services. Founded in 1885, Thomas Miller’s origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations.

Principal activities include:

  • Management services for transport and professional indemnity insurance mutuals
  • Investment management for institutions and private clients
  • Professional services
  • Building defects insurance

American Club announces investment in new Cyprus-based hull insurance company – American Hellenic

New company’s experienced executives, having worked more than twenty years in the hull & machinery insurance market, will now serve customers through an expanded global presence from offices in New York, London, Piraeus, Cyprus, Hong Kong, Shanghai, and Dalian.

NEW YORK, OCTOBER 2, 2015: The American Club has announced a strategic investment in a new Cyprus-based hull insurance company, American Hellenic Hull Insurance Company, Ltd. (American Hellenic), as part of its continuing global expansion and diversification initiative. The new company will be managed by an experienced team of executives with over twenty years in the hull & machinery insurance market. The American Club’s investment will allow further expansion into the global hull & machinery segment enabling it to offer high quality insurance services and innovative customer solutions.

A Witte June 15 #

Arnold Witte, Chairman of the American Club’s Board of Directors

American Hellenic will be a Cyprus-based and licensed, Solvency II compliant, wholly-owned American Club subsidiary. It will be managed from Piraeus, Cyprus and New York, utilizing the expertise of long-standing professionals in the marine insurance market and will be serviced through specialists in offices located in seven major global shipping hubs with the ability to provide local market know-how and service to its customers, and to communicate in no less than eleven languages.

The American Club will now not only be able to continue offering first class marine protection and indemnity cover, but also, through its new subsidiary American Hellenic, will provide an expanded product line of marine insurance including hull & machinery, war risk, and mortgagee interest insurance.

Chairman of the American Club’s Board of Directors, Arnold Witte, in highlighting the significance of this strategic investment, said: “The Board of Directors carefully assessed the value of this business opportunity and voted unanimously in favor of supporting the American Hellenic hull insurance initiative. This is an historic moment in the Club’s long history and, through the dedication and ingenuity of the Club’s Managers and Board Directors, sparked by the idea of Board member Angelos Kostakos, represents a unique opportunity to prudently expand our market footprint, and bodes well for the future of the American Club.”

Vincent Solarino, President and COO of Shipowners Claims Bureau, Inc., Managers of the American Club also stated: “American Hellenic is an investment in the American Club’s future and is yet a further step in expanding and diversifying the Club’s product line. It is part of the Club’s overarching plan to significantly increase its revenue across a growing range of product lines, its tonnage across all lines, expand its market presence, while increasing its S&P rating. This is possible because the Club’s Directors and Managers have the grit, determination and initiative to make it happen”.

Joe Hughes, Chairman and CEO of the American Club’s Managers, concluded his colleagues’ remarks in saying: “This is one of the most significant developments in the American Club’s recent history. The transaction proceeded with the close and active cooperation of the Board of Directors of the American Club. I am certain that American Hellenic will prove to be a powerful force of growing energy within the international marine insurance industry. 

Notes to Editors

The American Club was founded in February 1917. In addition to its US headquarters in New York, the club is able to provide local service across all time zones, communicating in 11 languages, with subsidiary offices in London, Piraeus, Cyprus, Hong Kong, Shanghai and Dalian, and a worldwide network of correspondents. 

Menlo Takes Care of Intimate Apparel

The intimate apparel brand LoveStories is working with Menlo Logistics in Europe, trusting the supply chain management expert to care for its customers’ lingerie purchases

AMSTERDAM — 1 October 2015 — Menlo Logistics (Menlo) knows well from past experience that high-end fashion apparel needs great care and precision in its distribution to retail outlets and end users. Menlo, the global logistics subsidiary of Con-way Inc. (NYSE: CNW), is now servicing these needs for the privately owned Dutch retailer of intimate apparel, LoveStories, supplying product to wholesale and retail customers globally.

LoveStories produces designer lingerie created by the Dutch fashion designer Marloes Hoedeman, and it is looking to Menlo to deliver a high-quality service that befits the expectations of its discerning customers. The global logistics specialist receives the inbound merchandise from suppliers around the world, including Italy, Turkey, China and other parts of Asia. A number of value-added services are provided at Menlo’s Eersel facility (near Eindhoven); these include labelling/re-labelling, price tagging, packaging and document inserting.  Distribution is global in extent to both wholesale and retail outlets and, crucially, while volumes are kept to a minimum, Menlo also provides reverse logistics services to the customer.

In commenting on the Menlo’s services, Marloes Hoedeman said, “The market for designer fashion items is relatively small but demanding and is growing throughout Europe. In addition to a top-quality product, the key to our success in this competitive field is a high performance delivery service and efficient supply chain management. Menlo Logistics fulfils our requirements in this regard to the highest standard.”

From Menlo’s perspective, working with LoveStories gives the company an opportunity to exercise its skills within the fashion apparel sector. Martin ter Harmsel, Menlo’s business Development Director, Europe, emphasizes this, saying, “At Menlo, we have developed an in-depth knowledge of the garment industry and a proficiency in managing the supply chain demands specific to the global fashion business. We are delighted to put these at the disposal of a burgeoning,quality apparel supplier such as LoveStories.”

Menlo Logistics images are available at:

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About Menlo Logistics Europe
In Europe, Menlo Logistics maintains 16 dedicated or multi-client Logistics Centres and Transportation Control Towers located in the Netherlands, Belgium, the Czech Republic, Finland, Germany, Ireland, Hungary and the United Kingdom. This warehouse and transportation network can serve as a pan-European distribution solution, using one or several facilities.

4PL supply chain and transport management solutions, as well as 3PL warehousing, VAS and distribution services, are offered to a variety of vertical industry sectors, including retail and consumer, e-fulfillment, health care, e-returns, manufacturing support, data centre logistics, spare parts and aftermarket supply, and high-tech logistics. The European headquarters is at the multi-client Amsterdam Distribution Centre in the Netherlands. For more information, go to

About Menlo Logistics
Menlo Logistics, LLC, is a US$1.7 billion global provider of logistics, transportation management and supply chain services with operations in five continents, including North America. As a third-party logistics provider, San Francisco, California-based Menlo Logistics’ services range from dedicated contract logistics to warehouse and distribution management, transportation management, supply chain reengineering and other value-added services including packaging, kitting, order fulfillment and light assembly through a strategic network of multi-client and dedicated facilities. With nearly 20 million square feet of dedicated warehouse space in North America, the Asia Pacific, Europe and Latin America, and industry-leading technologies, Menlo Logistics creates effective, integrated solutions for the transportation and distribution needs of leading businesses around the world.

Menlo Logistics, LLC, is a subsidiary of Con-way Inc. (NYSE: CNW), a $5.8 billion diversified freight transportation and logistics company. For more information, please visit us on the Web at

About LoveStories

LoveStories opened its first boutique, which can be found in the heart of Amsterdam’s famous shopping district the ‘9 streets’ in the Summer of 2014.  The collection is also sold in boutiques and department stores around the world, in 28 different countries such as Australia, Italy, Spain, Norway and Denmark. Furthermore the full collection is available at the web-store.

LoveStories is the brainchild of multi-talented Marloes Hoedeman, who is first and foremost a fashion and interior stylist. Hoedeman began her brand in the hopes of creating beautiful underwear for herself. A combination of high quality products blended with an affordable price. Her biggest inspirations, which guide her creative process, are exploring and travelling the world, filmography and literature.


“K”Line Signs Time Charter of VLGC with Gyxis Corporation

Kawasaki Kisen Kaisha, Ltd. (“K”Line) is pleased to announce that it has reached an agreement with Gyxis Corporation (Gyxis) to enter into a Time Charterer contract of a new 82,200m3 VLGC to be built and delivered by Kawasaki Heavy Industries, Ltd in November 2018.

Gyxis, established on April 1, 2015, is focusing on expanding overseas sales as well as domestic sales. In order to meet this purpose, Gyxis is promoting expansion of its VLGC fleet. This new VLGC will be “K” Line’s second VLGC under Time Charter contract with Gyxis.

“K” Line now operates 4 VLGCs and 1 VLGC being newly-built, and this latest agreement will expand its fleet to 6 VLGCs. As a part of our medium-term management plan “ Value for our Next Century,” “K” Line will continue to contribute to meet the expanding needs of LPG transportation utilizing the latest technology combined with established knowledge and know-how from its more than 40 years of LPG transport experience.

Gyxis Corporation

A newly-established company that started business from April 1, 2015, integrating import and wholesale LPG operations of four companies comprised of Cosmo Oil Co., Ltd, Showa Shell Sekiyu K.K., Sumitomo Corporation, and TonenGeneral Sekiyu, K.K.

Capital  : 11 billion yen

Shareholders & Ownership  : Cosmo Oil Co., Ltd (25%), Showa Shell Sekiyu K.K. (25%) and Sumitomo Corporation (25%), TonenGeneral Sekiyu K.K. (25%)

Sales Volume: 

Domestic  :  Approx. 3 million tons

Overseas :  Approx. 1 million tons

Evergreen stars in BBC 4’s Timeshift

The Engine that powers the world

Mark Evans tells the surprising story of the hidden powerhouse behind the globalised world – the diesel engine, a 19th-century invention that has become indispensable to the 21st.

The full episode can be viewed at :


GEODIS appoints new Head for its Industrial Projects network in Europe and South East Asia

PARIS / 23 September 2015

GEODIS Freight Forwarding, the international transport division of leading global logistics group, GEODIS has announced two new appointments in its Industrial Projects arm. Michael Doerpinghaus has joined as Director Industrial Projects South East Asia Pacific (SEAP). He succeeds Igor Muñiz, who is taking over the role as Director Industrial Projects Europe.

Doerpinghaus, who is to be Singapore based, comes from a strong energy and project logistics background with Panalpina, where he gained some nine years experience in Asia-Pacific and previously in North America and Europe. The multi-lingual German has a proven track record in mega-project movements.

Muñiz steps into the newly created role of Director Industrial Projects for Europe having spent two years in the equivalent position in the SEAP region. He has significant experience in start-up and development of IP operations having joined GEODIS Freight Forwarding (then Geodis Wilson) in 2008 to establish the company’s industrial projects services in Spain. Prior to this Muñiz’s career has been firmly grounded in transport and logistics services throughout Iberia.

Welcoming the both Muñiz and Doerpinghaus to their new roles Philippe Somers, Senior Vice President of GEODIS’ Industrial Projects business, says: “There is no substitute for experience in the handling of the projects we logistically manage from door to door. Specialists are required to move refineries, power plants, mining, oil and gas equipment, as well as renewable and nuclear power production units and transport infrastructure. In Igor and Michael we have two of the most proficient professionals in this highly specialized role.”



Supply chain operator and subsidiary of SNCF Logistics, GEODIS is a global European company (4th logistics provider in Europe). Through its ability to overcome logistical constraints and coordinate the different steps of the logistic chain (Supply Chain Optimization, Freight Forwarding (air and sea), Contract Logistics, Distribution & Express, Road Transport), the Group is the growth partner for its clients and offers them tailored solutions. With over 30,000 employees in 67 countries, the Group constantly innovates to improve its performance and its customers’ one. GEODIS reported in 2014 a €6.9 billion in revenue.


For more information about GEODIS Freight Forwarding go to –

Dachser welcomes 558 future logisticians

150922 Dachser-Ausbildungsbeginn-2015Kempten, September 15, 2015. As the new training year begins, 530 trainees begin their professional training at Dachser in Germany. The logistics provider is also welcoming 28 students who are taking advantage of the dual educational system to prepare for their career. The family company is currently training 1,341 logisticians at 78 locations throughout Germany. 

Logistics is a peoplebusiness—how logistics performs always depends on the performance of the people who provide it. That is why training has an especially high priority at Dachser. In Germany, the vocational training rate has been constant at ten percent for years. Throughout Germany, the family-owned company from Kempten in the Allgäu region is preparing its trainees for a career in logistics in seven vocational professions. It offers training in business, IT, technical, and industrial professions. “The combination of theory and practice prepares our trainees and students for a demanding career in logistics,” says Martina Szautner, Corporate Director Corporate Human Resources. “We need people, who in addition to their professional qualifications, thrive within a team and develop their profile. Looking beyond the horizon of their own responsibilities is an absolute necessity for a position in a company that operates internationally.”

Martina Szautner is also very pleased about the 58 professional drivers who are now beginning their training at Dachser. Last year, there were 45. “Our commitment to training professional drivers through Dachser Service und Ausbildungs GmbH is being well received,” says the head of HR. In September, Dachser Service und Ausbildungs GmbH is starting five continuing education modules as well as basic and partial qualifications in collaboration with DEKRA.

The logistics provider is also training future logisticians outside of Germany through the Dachser Education Program along the lines of the dual education system. The company is training 58 trainees as Dachser forwarding and logistics specialists in Great Britain, the Netherlands, France, Poland, and Hungary.

About Dachser:

Dachser, a family-owned company headquartered in Kempten, Germany, is one of the leading logistics providers.

Dachser provides comprehensive transport logistics, warehousing, and customized services in two business fields: Dachser Air & Sea Logistics and Dachser Road Logistics. The latter is divided into two business lines, Dachser European Logistics and Dachser Food Logistics. Comprehensive contract logistics services and industry-specific solutions round out the company’s offerings. A seamless shipping network—both in Europe and overseas—and fully integrated IT systems provide for intelligent logistics solutions worldwide.

With a staff of around 25,000 employees at 437 locations all over the globe, Dachser generated revenue of EUR 5.3 billion in 2014. The logistics provider moved a total of 73.7 million shipments weighing 35.4 million tons. Dachser is now represented in 42 countries.

For more information about Dachser, please visit

GEODIS Sponsors Automotive Logistics Event in Detroit

International transport & logistics provider, GEODIS will be a silver sponsor at this year’s Automotive Logistics Conference in Detroit, USA, which takes place at the Detroit Marriott at the Renaissance Center from 22 – 24 September 2015. Mark Ellis, the Market Line Director for Automotive, will be attending, together with other senior GEODIS executives, and Mark will also be a Moderator at one of conference sessions.

Now in its 16th year, this conference is part of the worldwide Automotive Logistics series and will be host to automotive logisticians and industry executives, providing the opportunity to share strategies and opportunities, and benefit from the most important networking event for the automotive industry.

Speaking prior to this key event, Mark Ellis said, “GEODIS understands the specific logistic challenges in the automotive industry and our commitment is to help drive the automotive business forward with an innovative approach to analyzing supply chains. This is an important event for us as it offers a meeting of minds between the key logistics players, and an opportunity to share information and find new and more efficient methods for delivering to our customers.”

Ellis will be a Moderator for a group discussion on Wednesday, 23rd September 14-00 – 15.15, entitled ‘Outside the USA’.   The session will focus on “Where are the growth areas and challenges for your sector outside the borders? What other regions are you looking at?

For more information on the Conference, click here



Supply chain operator and subsidiary of SNCF Logistics, GEODIS is a global European company (4th logistics provider in Europe). Through its ability to overcome logistical constraints and coordinate the different steps of the logistic chain (Supply Chain Optimization, Freight Forwarding (air and sea), Contract Logistics, Distribution & Express, Road Transport), the Group is the growth partner for its clients and offer tailored solutions. With over 30,000 employees in over 67 countries, the Group constantly innovates to improve its performance and that of its customers. GEODIS reported in 2014 a €6.8 billion in revenue.



DACHSER celebrates 10th year anniversary

17 September 2015

Dachser’s branch in Dartford celebrates 10 years trading in September.

Dachser DartfordThe branch operates the company’s Southern UK hub with its road freight services departing daily to and from Europe.

The branch opened with 25 employees, and has increased steadily over the years. 65 members of staff now organise some 15,000 shipments every month, and the business continues to develop. In addition to the European services, Dachser in Dartford operates a direct trailer service to and from Morocco and Tunisia, and also offers seafreight and airfreight forwarding services to its growing client base.

A highly customer-focused approach puts quality and reliability at the heart of Dachser’s service offering. Customer satisfaction is further enhanced through the benefits of Dachser’s eLogistics facility which provides on line booking, real time track and trace and proofs of delivery.

Mick Adams, Dachser’s Sales Manager for the South, is very pleased to have witnessed such a successful growth in business. “Having been here from day one, it’s clear that our customers have come to appreciate the value and reliability of our services.” he explained, “I’ve no doubt that we will continue to expand our facilities and develop our services in the future.”

Dachser has its UK headquarters and new purpose-built Logistics centre in Northampton that opened in 2014, as well as a North West hub in Rochdale which started operations in 2010 following the acquisition of JA Leach Transport.



Dachser UK is part of the Dachser group, a major international logistics provider which on 31 December 2014 generated total sales worth EUR 5.3 billion. 24,988 staff working in 437 locations worldwide handled 73.7 million consignments comprising 35.4 million tonnes.

For more information, please visit

Evergreen Orders Ten 2,800 TEU Class Vessels from Imabari

September 11, 2015 – Evergreen Group has signed an order with Japanese shipbuilder Imabari for ten 2,800 TEU class B-type vessels yesterday.  These are in addition to the order for ten similar vessels announced last month from CSBC in Taiwan.

The latest contract was signed by EMC Chairman Mr. Anchor Chang and Imabari Shipbuilding President Mr. Yukito Higaki. The first ship is planned to be delivered during the first half of 2018 with the completion of the series due by the first half of 2019.  All twenty newbuildings are planned to be deployed in the intra-Asia trade.

Evergreen’s B-type vessels will be 211 meters in length, 32.8 meters wide, and have a design draft of 10 meters with a capacity of around 2,800 TEU. The ships are designed to load 13 rows of containers on deck, which is within the span of existing gantry cranes in the major ports on the intra-Asian trade. The hull design of the vessels is wider in comparison to ships of a similar capacity. Such design enables the ships to navigate in the shallower ports encountered in the intra-Asia trade and to enhance their cargo carrying capability. The ships can cruise at a speed up to 21.8 knots, enhancing their on-time performance and competitiveness.

Vessels operating on regional trades, such as intra-Asia, often sail in coastal areas.  With frequent port calls, these ships operate in close proximity to human activity and the living environment.  To reduce their impact on port communities and eco-systems, Evergreen has imposed stringent eco-friendly criteria on their operation.  The B-type vessels are equipped with various environmental protection devices and the latest technology to safeguard the sustainable development of the marine environment. The ships are also to be equipped with an electronic-controlled fuel injection engine, which meets the IMO Tier II standards for NOx emission and the requirements of Energy Efficiency Design Index (EEDI), and can reduce emissions by around 20% in comparison with vessels of traditional designs.

Founded in 1901, Imabari Shipbuilding is Japan’s largest shipbuilder. The agreement for B-type vessels is the third project in which Imabari will participate in Evergreen Line’s fleet renewal program. Evergreen has signed agreements with Shoei Kisen Kaisha, the ship owning arm of Imabari Shipbuilding Group, to charter five 14,000 TEU containerships to be delivered in 2017 and eleven 18,000 TEU containerships to be delivered in 2018 and 2019.