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Korea P&I & Britannia P&I collaboration

The Britannia Steam Ship Insurance Association Limited (Britannia P&I) and The Korea Shipowners’ Mutual Protection and Indemnity Association (KP&I) established a new collaboration agreement, Korea-Britannia P&I Collaboration ‘KBC’.

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Korea P&I & Britannia P&I collaboration
Korea P&I & Britannia P&I collaboration. Image: BRITANNIA P&I

The Britannia Steam Ship Insurance Association Limited (Britannia P&I) and The Korea Shipowners’ Mutual Protection and Indemnity Association (KP&I) established a new collaboration agreement, Korea-Britannia P&I Collaboration ‘KBC’.

This new facility, which is exclusively available to Korean shipowners and operators, will provide cover on a mutual basis excess of a primary USD500,000 layer insured by KP&I.

Britannia P&I, trusted since 1855, has 114m gt of mutual tonnage from over 240 members across 30 countries.  In August 2019, S&P re-confirmed Britannia P&I’s A (Stable) rating with financial strength above the AAA level and ‘exceptional’ liquidity.

KP&I is a P&I Club established subject to Korea’s Shipowners Mutual Protection and Indemnity Insurance Act 2000. Rated A- (Excellent) by A.M Best, KP&I has a membership of 22.6m gt and 253 members.

Shipowners with vessels entered in KBC will become members of both Britannia P&I and KP&I. KP&I will market the facility and handle claims within their primary USD500,000 layer while Britannia P&I will assume responsibility for handling any larger or complex claims with a potential to exceed the primary layer. Britannia P&I will also issue all compulsory certificates thereby guaranteeing compliance with international maritime conventions.

Commenting on the new facility, ANDREW CUTLER, Britannia P&I’s CEO said: “Britannia P&I has a proud tradition of working closely with Korean shipowners, many of whom are among the Club’s longest serving Members. KBC brings together Britannia P&I’s and KP&I’s shared values of excellence in service and reflects our common desire to support the Korean shipping market”.

While BAY MOON, COO of KP&I said: “This new collaboration agreement with Britannia P&I is an important milestone in the development of the Korea P&I Club and is significant before the 20th Anniversary of our founding in 2000. KBC will combine KP&I’s reputation for friendly and efficient service with Britannia P&I’s widely recognised financial strength to meet the ongoing demands of a vibrant and dynamic Korean shipping industry”.

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China’s trade with Bulgaria up 5.1 pct in 2019

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China's trade with Bulgaria up 5.1 pct in 2019. Image: Pixabay
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China’s trade with Bulgaria grew by 5.1 percent year on year in 2019 to 2.72 billion U.S. dollars, said an official with the Ministry of Commerce.

Since the establishment of the China-Central and Eastern European Countries cooperation mechanism in 2012, China and Bulgaria have made positive progress in cooperation in trade, investment, agriculture, infrastructure and other fields, said Yu Jianhua, vice commerce minister and deputy China international trade representative, at the China-Bulgaria Business Forum.

So far, China’s investment in the country has amounted to 740 million U.S. dollars.

China is willing to work with Bulgaria to tap the huge potential of the Belt and Road and advance bilateral economic and trade cooperation to a higher level, Yu said.

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Guangdong’s trade with Belt & Road countries up 4.7 pct in 2019

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Guangdong's trade with Belt & Road countries up 4.7 pct in 2019. Image: Wikimedia/ ma luyao
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South China’s Guangdong Province witnessed a 4.7-percent increase in its trade with Belt and Road countries in 2019.

According to the government report delivered at the annual provincial legislative session, the China-Europe freight trains departing from Guangdong saw their annual cargo volume increase by 31.2 percent year on year in 2019.

The province also had five new friendship cities, and its friendship city network covered major countries along the Belt and Road by the end of last year.

According to the report, the province will continue to support its enterprises in participating in infrastructure projects and energy development in Belt and Road countries, and develop more businesses and transport modes for the China-Europe freight trains in 2020.

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Whistl to offer semi tracked import service from 220 countries

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Whistl to offer semi tracked import service from 220 countries. Image: Geograph/ Mark Anderson
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Whistl and One World Express have joined forces to offer eCommerce importers into the UK a tracked postal service, Insight, from 220 countries worldwide.

Under the agreement, eCommerce importers will be able to print one label for an individual item in the country of origin and track it through the various transit stages, including customs clearance. When Whistl receive the item in the UK it will be processed in the network and handed to Royal Mail for delivery to the end consumer.

Established in 1998, the then One World Express Group (OWE) started as a UK-based cross-border express carrier. Today, it has become a data-driven IT platform currently managing 10.000+ tariffs on behalf of its clients to destinations worldwide. In 2016 OWE started to extend its integration library, integrating with marketplaces like Amazon, eBay and Lazada and also various eCommerce platforms such as Magento, allowing its customers to manage orders from all their sales channels using a one-stop-solution through their technology platform “Smarttrack”.

Nick Wells, CEO Whistl, said:
“With the unprecedented expansion of the eCommerce industry globally and the rise of imports into the UK, consumers are looking for greater transparency on the delivery journey from country of origin to their home. Whistl is delighted that we will be working with One World Express to enable eCommerce importers from 220 countries to semi track every item they import into the UK before handover to Royal Mail via Insight.”

Atul Bhakta, CEO One World Express Group, said:
“By collaborating with the leading delivery management company in the UK, global customers who are importing into the UK, now have access to the experts who understand the importance of the customer experience from origin to handover to the consumer. We look forward to building our Insight relationship together.”

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