Competitive advantage in timber supply chain through digitalisation

Centersource - white paper - shipping and freight resource

For many customers, the shipment of timber products can be as problematic as it is valuable as it requires close coordination between the various parties..

Speed to market is quite crucial in this business, as is slow steaming or longer transit, to avoid tariff increases in some cases or to adjust the delivery schedules to suit the customer’s requirement..

All these factors together determine the actions that the timber companies must take in order to have a competitive advantage in the market..

Centersource Technologies, an independent digital marketplace and supply-chain automation platform has released a White Paper that provides answers to these questions..

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Supply chain ‘coopetition’ at scale Brings Unprecedented End-to-End Logistics Visibility

Shipping and Freight Resource Press Release

The impact of COVID-19 has been a definitive jolt to supply chain logistics stakeholders, as the widespread transport blockades impacted global freight movement.

Maritime logistics operations witnessed massive delays at the port terminals and customs, as countries shut down borders for several weeks.

For realizing true end-to-end logistics visibility, it is critical to think beyond the maritime mid-mile. Data streams across the entire value chain must be tapped for insights while initiating inter-modality collaboration to gain real-time intelligence over freight movement.

In that context, the recent announcement of maritime visibility leader Ocean Insights partnering with over-the-road visibility major FourKites is a welcome step in integrating transport intelligence across modalities.

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IoT based Cargo Insurance

Press Release

Among other things (including a lack of knowledge), cargo insurance is considered by many to be cumbersome due to the huge amount of manual work involved in applying for insurance and for claims, not to mention the time delays caused due to these processes and also the lack of visibility of incidents etc for the insurance industry..

In an effort to reduce these delays and provide visibility into entire shipping container fleets, Loginno an IoT visionary company from Israel has partnered with with Marsh to provide innovative IoT based cargo insurance..

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IoT standards for remote Reefer container monitoring on board vessels released

Press Release on 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 – MSC, Maersk, CMA CGM, Hapag-Lloyd, ONE, Evergreen, Yang Ming, HMM and ZIM has released IoT standards for remote Reefer container monitoring on board vessels..

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Centersource launches Timber Exchange, a digital marketplace for the forestry industry

Press Release on Shipping and Freight Resource

Centersource, a timber trade and technology company has launched Timber Exchange, a comprehensive marketplace and digital toolset for Forwarders, Sawmills, Importers, and Forwarders. Timber Exchange arrives just in time to help timber supply chain companies navigate the latest round of COVID-19-driven volatility, providing companies with the tools to remain profitable in a challenging market. The digital platform provides users a … Read more here..

Tracking hazardous cargo misdeclarations in real time

News - Shipping and Freight Resource

Cargo misdeclaration is nothing new to shipping and has been continuing for years especially in containerised shipments for various reasons..

Apart from the loss of millions of dollars worth of goods and assets, such misdeclarations also result in maritime disasters which have a huge impact on the environment and the loss of life (human or otherwise)..

There are enough examples of the consequences due to misdeclarations both in misdeclaration in weight and/or misdeclaration of hazardous content..

To tackle the scourge of weight misdeclaration, IMO and other stakeholders imposed the requirement of SOLAS VGM which came into effect in July 2016..

While life after SOLAS VGM seems to be hunky-dory and no major incidents have directly attributed to weight misdeclarations, hazardous cargo misdeclaration still seems to be rampant and several shipping lines are “gatvol” of these misdeclarations and have imposed severe financial penalties on the defaulters..

ZIM recently developed and implemented an innovative AI-based screening software to detect and identify incidents of misdeclared hazardous cargo before loading to vessel..

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Haven Launches Freight Invoice Audit Platform to Enable Ocean Freight Cost Savings in Aftermath of COVID-19

Press Release - Shipping and Freight Resource

Market studies show that 25-30% of all freight invoices issued are erroneous. In a $350 billion ocean freight market, this accrued revenue loss can be quite significant.

Businesses that have been overpaying service providers for years due to incorrect invoices now have a solution in the form of Haven’s automated Freight Invoice Audit Platform.

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Product Review : CargoX Platform – secure, trusted, instant transfer for trade documents

Product Review by Shipping and Freight Resource

The world of shipping involves several commercial, documentary, operational and financial processes..

While there have been many developments in the industry, a lot of the documentary processes in shipping and freight has stayed much the same for many decades..

Delays in document transmissions which could take anywhere between 5-10 days with the added risk of loss or delay of documents have severe consequences such as demurrage, detention and/or port storage, possible loss or cargo damage due to non-clearance and abandoned cargo..

CarogX Platform, a neutral, public blockchain-based platform is offering to provide a solution which will help to digitalize the trade documentation process using BDT (Blockchain Document Transfer) and reduce document transmission time to 20 seconds..!!

I took the platform for a test drive to see how it works and if it can assist the industry in saving costs and making the process of document transfer simpler, easier, economical and more importantly, secure and safer..

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World Economic Forum recognises Haven Inc., as Technology Pioneer

shipping and freight news - shipping and freight resource

Haven, Inc., the California-based Software as a Service company that produces the premier Transportation Management System for international shippers, was selected among hundreds of candidates as one of the World Economic Forum’s “Technology Pioneers”.

The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations, and are poised to have a significant impact on business and society. Technology Pioneers community is an integral part of the larger Global Innovators community of start-ups at the World Economic Forum.

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How shipping containers can help in tackling COVID-19

shipping and freight news

Hospitals made from shipping containers could help tackle COVID-19

  • Architects have designed intensive care units built inside shipping containers.
  • These mobile hospitals could help ease pressure on health systems.
  • The team behind CURA wants to scale rapidly to tackle the spread of COVID-19 in Africa.

An Italian design company has teamed up with the Massachusetts Institute of Technology to create prefabricated intensive care units (ICUs), to deal with escalating numbers of coronavirus patients around the world.

Coronavirus patients with access to hospital equipment, in particular ICU beds, have a much greater chance of survival. With 377,431 confirmed cases of COVID-19 on 24 March, health systems around the world are groaning under the strain.

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ICC’s initiatives to standardise digital trade

shipping and freight news

The International Chamber of Commerce (ICC) has launched some digital initiatives aimed at creating a collaborative cross-industry effort to enable the standardisation of digital trade..

The first one called The ICC Digital Trade Standards Initiative (DSI), will build on work done by various like minded initiatives, many of which aim to digitise trade, notably through the development of open trade and technology standards to promote interoperability.

In the other initiative, the ICC is partnering with various government, business and other stakeholders to create digital solutions that will advance economic prosperity for all.

In line with its Declaration for the Next Century of Global Business, the ICC is committed to maximising the benefits of the digital economy through establishing key partnerships to unify, simplify, and transform trade processes for all.

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