Business, Forwarding, Freight News, Logistics

Covid-19 – TT Club has the answers

[ May 14, 2020   //   ]

International freight insurer TT Club has set up a dedicated Coronavirus webpage, including risk briefings and alerts, as well as a set of frequently asked questions.

It says that the diverse governmental responses around the globe have created a variable demand for goods, complex regulatory structures, and significantly changed trade patterns.

The Club adds that there is likely to be more abandoned low-value cargoes in containers, either delayed in transit or for which a market is no longer available, causing additional headaches for forwarders and terminals.

Ports meanwhile face a responsibility for protecting all involved in the safe transfer of ships’ crews, many of whom have had protracted periods at sea.

“While the current circumstances facing global supply chains and the operators that serve it are truly challenging, TT is providing carefully considered and pragmatic advice to real issues,” says TT Club’s Risk Management Director, Peregrine Storrs-Fox.

Other topics covered by the FAQs include: dealing with customers whose cargo delivery has been delayed and the proper use of force majeure clauses in contracts; protecting key workers in a responsible way; advice on demurrage and detention charges; comments on the need to alter terms of Standard Terms and Conditions (STCs) and bills of lading in order to protect against liabilities; and a responsible approach to any relaxation of safety regulations by government authorities.