How to achieve cost saving through digitalisation in shipping

Opinion Piece

Digitalisation is the use of digitisation (the transition from an analog format to a digital format) and digital technologies to convert your business to a digital business..

Digitalisation has been the buzzword in the shipping and freight industry in the last decade.. Its influence and coverage in the industry is increasing day by day..

Apart from the increase in efficiency and speed to market, one of the main advantages of digitalisation is cost saving..

There are several areas where cost can be saved using digitalisation.. Central among this cost saving opportunity is Time which is an important commodity and when it comes to shipping and freight, time is really money..

Digitalisation can assist customers a great deal in terms of saving cost on avoidable costs..

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The role of ship agents and shipbrokers in a digital shipping environment

Shipping and Freight Resource Press Release

Ship agents and shipbrokers have been active in the industry since the beginning of commercial shipping and that coffee shop in London and have been playing an important role in the provision of services to various ship and cargo owners..

Digitalization is now changing the environment in which ship agents and also ship brokers operate, and we are seeing new and adjusted services emerging as ship agents and shipbrokers continue to strive to enhance service levels and provide added value to their principals..

This article by Mikael Lind, Research Institutes of Sweden (RISE), Jonathan C. Williams FICS, FONASBA, Sue Probert, UN/CEFACT, and Juan Carlos Croston, Manzanillo International Terminal (Panama) takes a look at how the traditional roles played by the ship agent and shipbroker might change in this digital shipping environment..

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TT Club’s signposts to a digital future

Press Release - Shipping and Freight Resource

Leading freight transport and logistics insurer TT Club is reflecting the evolving digital landscape in its new logo and revamped website. Increased accessibility to data, information and streamlined processes are the key aims of the insurance specialist’s investments in digitisation.

Although COVID-19 has accelerated digitalisation, TT had already embarked on its path to digital transformation.

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DCSA Publishes Standards for Digital Exchange of Operational Vessel Schedules

Press Release - Shipping and Freight Resource

Digital Container Shipping Association (DCSA), a neutral, non-profit group established to further digitalisation of container shipping technology standards, in conjunction with its nine-member carriers, today published standards for the exchange of operational vessel schedules (OVS).

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Industry bodies call for digitalisation to be accelerated in maritime sector

shipping and freight news

There is an urgent need for inter-governmental organisations, governments and industry stakeholders concerned with maritime trade and logistics to come together and accelerate the pace of digitalisation“..

This is the message from several industry bodies representing a range of shipping, port, cargo handling and ship operating organisations..

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Don’t wait for a smart container – make your container’s trip smart

Executive Insights - Shipping and Freight Resource

An increasing need for container tracking

In today’s global trade, handling of container transport and supply chain is not that easy and comes with a plethora of problems. Lack of visibility is one of the main problems that customers face.

Lack of visibility of a shipping container’s location and its condition during a trip may lead not only to unexpected delays but also to possible theft and deterioration of goods especially if these problems are noticed far too late.

In many situations, it is also difficult to ascertain and be assured that the goods have traveled in the optimal condition especially with perishable cargo or hazardous cargo shipments.

Without visibility, shippers cannot expect the fastest, safest and importantly, the most ecological routes for their shipments.

Time saving and product quality are key factors in a well functioning supply chain, and more and more companies are looking to choose solutions that provides visibility of their shipments.

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Evergreen Line enters the digitalisation fray with its GreenX Platform

shipping and freight news

As we have seen and read, the digital advances in the shipping and freight industry has given rise to the “digital shipping line“ with several shipping lines providing several digital services to customers either on their own or through digital alliances or associations such as TradeLens and Digital Container Shipping Association (DCSA)..

In line with this, Evergreen Line became the latest shipping line to provide digital services to its clients, fulfilling its mission to provide the most optimized service to its customers..

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Path for Tradelens Agreement seems clear

logistics technology - shipping and freight resource

The TradeLens Agreement which “authorizes the parties to cooperate with respect to the provision of data to a blockchain-enabled, global trade digitized solution that will enable shippers, authorities and other stakeholders to exchange information on supply chain events and documents” is seemingly cleared to go live as it goes unchallenged within the timeframe given by FMC..

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Pitfalls of digitalisation in shipping and freight

Opinion Piece

Digitisation, Digitalisation, Digital Transformation are some buzz words that have recently taken the shipping and freight industry by storm..

Let’s take a quick look at what these terms mean and what it is all about..

While Digitalisation is inevitable in the industry, there are also some pitfalls and you can read about the pitfalls and how to avoid it here..

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FMC publishes TradeLens agreement

shipping and freight news

TradeLens is a digital alliance among container shipping lines started by the teaming up of Maersk and IBM to offer customers digital freight solutions..

Touted as an open and neutral industry platform underpinned by Blockchain technology, Tradelens is now supported by major industry players such as Maersk, Zim Lines, PIL, CMA CGM, MSC, Hapag Lloyd and ONE..

This platform received a major boost on the 23rd of December 2019 when The Federal Maritime Commission (FMC) published “The TradeLens Agreement”..

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Trade and Digitalisation

Trade and digitalisation

Trade as we know it (or don’t know it) has been around for centuries in various forms across various time-lines..

Starting from trade on the Silk roads around 1st century BC, through the Spice Routes between the 7th and 15th centuries to the current age of globalisation, trade has come a long way indeed..

While the business of trade itself hasn’t changed from the basic concept of buying and selling, the methodology of trade and trade patterns have changed drastically especially over the last few decades..

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