ESC position more lonely as TT Club backs UN's Rotterdam Rules

THE TT Club, a top insurer for the global transportation and logistics industries, has voiced its support for the United Nations Convention on the International Carriage of Goods Wholly or Partly by Sea, known as the "Rotterdam Rules."

"The TT Club welcomes the harmonisation, transparency and modernisation of transport liability systems which the Rotterdam Rules will bring if ratified by the major trading nations, and in particular is supportive of the attempt to create a uniform and global liability regime," the TT Club statement said.

The rallying cry for support comes after the European Shippers' Council recently criticised the convention for carrying "inherent dangers" for European importers and exporters. The ESC furthermore urged that the convention not be signed or ratified in its current form.

A signing ceremony will be held in Rotterdam in September and thereafter the Rotterdam Rules will be ready for ratification by member states and will come into force one year after 20 states sign off on the deal.

The convention aims to create a uniform liability regime for the intermodal carriage of goods where a sea leg is included. It will do this by replacing the existing maritime conventions (Hague, Hague-Visby and Hamburg rules), meshing with existing road and rail conventions (CMR and COTIF) and also by encompassing other parts of the intermodal transport chain, in particular marine ports and terminals, a statement issued on behalf of the TT Club said.

The convention has won the support of the World Shipping Council, America's National Industrial Transportation League and the European Community Shipowners' Association.

The TT Club plans a series of seminars for members and their brokers at key locations around the world this autumn to generate a clearer understanding of the impact that the new rules might have.

(Source: www.schdnet.com)