BOW WAVE 125

Puzzle Edition

news and views on trade, insurance and risk

Bow Wave homepage
Previous issue (124) / Current issue / Next issue (126)

Wavy Line	sam@wavyline.com
(c)2002 WavyLine.com	Issue No 125 15 Apr 02
Published free of charge to Readers
Editor: Sam Ignarski
Subscribe	Unsubscribe

In this issue:

1. Welcome
2. Freight Forwarding Walking Wounded
3. Readers Offer
4. Crime and Fraud Glossaries
5. Logistics Magazine
6. Puzzle

1. Welcome

Last week's Economist Magazine (6th April) carried an intelligent special report on the container trades which examined the security aspects. There was certainly a ferocious hook in the first paragraph of the article:

"Last October, a discovery at the Southern Italian Port of Gioia Tauro shook the foundations on which world trade has grown so rapidly in the past half century.A suspected al-Queda terrorist was found inside a container. The Egyptian suspect, who later disappeared while on bail was equipped for comfort for the duration of the container's intended sea voyage from Italy to Halifax in Canada. He carried plans of airports, an aviation mechanic's certificate and security passes. Intelligence sources say other containers similarly fitted out were found at the Italian Port."

We can remember these kinds of cases from ordinary civilian life. A lady stowaway to South Africa from Britain once enjoyed some fame in the newsletter of a well known container insurer and there are darker stories of illegal immigration in Europe and elsewhere.

In short the use of containers for such purposes is by no means unprecedented and would seem to justify vigilance.

New Readers this week include:

Andrew Driver of PR firm Impact
Greg Garrett of Enron
Serena Standing of the Hanover Foundation in London Roger Anderson, Transport Manager for Target Corp. John Cook of Paxton International in Springfield, Virgina Broker KS Mankad in Mumbai, India
Broker Mark Mathews of BMS Harris & Dixon in London

News of Readers

Jose Uhler who used to be the insurance and risk manager in the Panalpina head office in Basle has struck out on his own during the last six months. He has established two companies:

- an insurance broking company, called Global Insurance Brokers where they try to offer professional insurance solutions for the transportation industry. and;
- a consultancy company, called Global Transport Consultants where they offer professional risk management, legal advice, and contract analysis in a variety of languages including German, French, Spanish, English, Italian, for freight forwarding, logistics and transportation companies. He also subcontracts for insurers, international brokers and similar companies.

These industries are very short of this kind of international expertise and we have no doubt many companies would benefit from Jose's expertise.

Readers can contact him at:

jose.uhler@gib-gtc.com

A busy week but a decent bag of links and another puzzle by popular demand in Item 6

Enjoy.

2. Freight Forwarding Walking Wounded

Last Week's item provoked some response from various readers. Chris Childs of underwriting agency Galatea hastened to point out that his venture was taking forwarding business in but this will hardly be sufficient to cope with the waves of demands from hauliers, forwarders distributors and so forth, many of whom made mincemeat of their insurers during the soft market and now face the prospect of reduced covers and deductibles of a quarter million dollars. The subject has prompted your editor to base the next Quarterpoints column in Lloyd's List this Tuesday on the question why insurers have taken such a pasting from the sector.

3. Reader's Offer: L/C Monitor

There are Bow Wave Readers who may be interested
in the L/C Monitor, a monthly publication devoted to the issues of documentary credits and the export trade. The publication offers:

--Analysis Of Current Documentary Credit Issues
--Tips On Minimizing The Risk Of Non-Payment
--Assessment Of Country & Bank Risks
--Insight Into The Structure Of Complex Documentary Credit Transactions

To gain a better idea of the publication go to:

http://www.lcmonitor.com/index2.htm

Readers who would like to subscribe to this publication can do so on line using their credit cards. A discount of ten per cent will apply to Bow Wave Readers.

http://www.lcmonitor.com/bowwave/

4. Crime and Fraud Glossaries

Multitech Communications of New Haven Connecticut, the specialist insurance translaters have the bright idea of publishing glossaries on their website. They call the area their Glossary Agent and Louis M. Cardillo tells us they recently expanded it to include glossaries in crime and fraud.

Go to:

http://www.insurancetranslation.com/Glossary_Agent/crime.htm/

5. Logistics Magazine

We understand this US based magazine has got a web site where browsers can get a feel for what it is about. This is a good thing since there is so little good writing on the subject of logistics which is a world that often interacts with the marine world in mutual misunderstanding

Readers can sort of ignore most of the topic buttons on the left; they only lead to a generalised news feeds provided by the parent company's online news service. Better search for past articles on particular subjects,by using the search field at top right. Do not be detained by the "no matches found" announcements. Keep scrolling down--material from the "archives" is at the very bottom. We think the publication is very readable, but wonder why the publication doesn't make access a bit more browser friendly.

http://www.manufacturing.net/lm/index.asp

6. Puzzle

With thanks to Cathie Walker of SillyBuddies.Com. Winners will be announced next week

This is an unusual paragraph. I'm curious how quickly you can find out what is so unusual about it. It looks so plain you would think nothing was wrong with it. In fact, nothing is wrong with it! It is unusual, though. Study it, and think about it, but you still may not find anything odd. But if you work at it a bit, you might find out. Try to do so without any coaching!

BOW WAVE is published each week to around 6800 readers in the transport,insurance,shipping and finance industries.

Thanks for reading BOW WAVE