Carriers struggle to cope with equipment shortages as transshipment ports see an increase in October cargo rollovers, reveals the latest Ocean Insights data.
Strong demand for container shipping space on major trade lanes from Asia to Europe and North America saw cargo rollovers increase month-on-month in October as carriers struggled to keep ocean supply chains operating smoothly.
Integrating visibility into your supply chains is no longer a luxury, but has become a necessity – especially considering the intermodal activities that are required in the global market place of today..
Since the time the need for real time visibility and the accrued benefits came to light (just under a decade ago!), there has been a huge rush and demand from customers who are clamoring for more information – they want more data, more visibility and quickly..
Customers today require authentic and visual data to see how their products are moving, identify bottlenecks in their supply chain, and correct for where avoidable costs like demurrage, detention and storage are being incurred..
Ocean Insights & FourKites will be discussing all of the above and more, in a webinar titled, “The ROI of Integrating Visibility into Your Door to Door Supply Chain”..
Supply chain disruption due to container rollovers at leading transshipment ports eased marginally for shippers in September compared to August.
However, the ratio of rollovers remained far higher compared to a year earlier at most hubs, according to Ocean Insights, the world’s leading real-time and predictive ocean container tracking data provider to forwarders and shippers.
The latest global container port rollover findings were compiled by analyzing Ocean Insights’ proprietary global container tracking data through to the end of September.
To many customers around the world, demurrage and detention costs represent some of the most expensive fees that they will incur in the process of a trade transaction..
Although demurrage and detention are not standard charges that are applicable on every shipment, there are many shipments on which these charges are levied..
They are probably two terms that top the list of controversial charges levied by shipping lines on customers..
The seriousness of demurrage and detention charges is evident when you consider that EVERY shipment has the potential to incur both these charges during loading and unloading..
Demurrage and Detention really are avoidable costs and it is something that can be defeated with data..
Learn exactly how, in a webcast which focuses on ways and means customers can reduce and/or avoid demurrage and detention charges through the effective usage of data..
Global sea trade has been trading blind for centuries because once the ship left the port of load with the goods, there was very little visibility on the whereabouts of the ship or the condition of the cargo till it arrived at the destination..
Historically, the shipping and freight industry has been slow to adopt new technologies and standards, unlike its airborne cousin which is highly standardized and regulated internationally..
The advent of containerisation and intermodalism, made ascertaining the whereabouts of a container all the more difficult because containers move to remote locations with relative ease using a combination of rail and road options..
With the exponential increase in the movement of container volumes around the world, it would be impossible to meet all the requirements of the customer using manual processes..
There has been a noticeable acceleration in the digitalisation of the industry in the last decade and this digital evolution is set to shape the future of the industry..
As much as the industry needs to embrace the digital evolution and the competitive advantage it can provide, there are several challenges as well.. It is more than just about getting together the required hardware and software and converting a paper based model to a systems based model..
It requires innovation.. Innovation is not a product but rather a culture that needs the right people following the right methodology using the right tools with the right thinking..
One company that presents innovation as being at the heart of its service offering is Ocean Insights – Innovators in Container Tracking..
Here is my review of Ocean Insights’ container freight visibility platform and what the industry can expect from this platform..
Global Supply Chains are very important in linking various countries to international markets facilitating global trade.. Modern day supply chains come with great opportunities but also pose some challenges which can test some of the best built and run supply chains..
One such challenge that is testing the world currently is the COVID-19 pandemic which came into limelight in December 2019.. This pandemic which has spread to every country around the world has caused/is causing major economic and social disruptions with far reaching impacts on global supply chains..
To understand the impact of this pandemic on the supply chain, we conducted a survey to measure the effect and impact of the coronavirus pandemic on global supply chains.. It collected and analyzed data on three key aspects – Impact, Preparedness, and Recovery..
Here are the results of this survey..
COVID-19 the pandemic that came into the limelight in December 2019 has now spread to every country around the world. This has caused major economic and social disruptions with far reaching impacts on global supply chains..
One of the key issues is the impact COVID-19 is having on port calls and particularly, the issue of blank sailings..
Ocean Insights has released some key data on the effects of COVID-19 on global port calls alongwith a free tracker to monitor blank sailings..
Cargo rollover happens for a variety of reasons, at various stages and various places. Cargo rollover can cause significant delays and result in potentially crippling operations.
Most shippers assume carriers would send rollover notifications, but only a few carriers seem to notify customers in advance that their cargo is about to be rolled or has been rolled. This especially happens when transhipment is involved and catches many customers by surprise and upsets their production or sales plans.
What most customers don’t know is that there is a reliable way to get advance warning of cargo rollover so that they can take suitable action.
How?