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TT Club, the transport insurance provider, has urged regulatory bodies to step up vigil to curb the transportation of dangerous cargo, posing ever greater risks as trade volume and the size of containership increases. TT Club has reasons to feel worried. It is believed to have suffered an estimated $100-million loss in explosion and fire aboard the Hyundai Fortune in the Gulf Aden.

The ship was on the Far East-Europe run. If nation-states fail to comply with the required safety inspections, then the industry, covering carriers, terminals and forwarders, must take on the responsibility of undertaking inspections, a senior official of TT Club has been quoted as saying in the Shipping Gazette.

The concept of "know your customer" in the entire supply chain, therefore, assumes significance. According to one estimate, 5-10 per cent of the world's container cargo is made up of declared dangerous shipments.

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