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..
The theory is that an adopter of technology will not be eager to join in because the technology looks fancy. A difficulty that Blockchain is struggling to address is that its true potential might only be realized when everyone is on board, but the benefits it brings back might not be visible to all or is not tangible.
The managing board expects the providers to show them how their solution would help them make money while ensuring an acceptable level of risk, not how much they have to pay to join in another platform that they have to add to their collection of systems to be maintained.
The role of CIOs and CTOs is therefore critical to make his/her company become an educated buyer in this emerging market.
A recent study by Son Nguyen, Peggy Shu-Ling Chen, and Bill Yuquan Du at Australian Maritime College, University of Tasmania, Australia revealed the potential of the increasing complexity of system management and the emerging of multiple-event risk scenarios originated from the information flow of the industry.
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..
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.
Complete supply chain transparency, unprecedented security, and the transactional capacity to serve the needs of even the largest Fortune 500 and Global 500 companies are all now possible following the launch of ShipChain Mainnet.
This launch is a significant milestone toward achieving a modular system across the entire supply chain.
With all the uncertainties in the world today, it gives supply chain decision-makers the incentive to move from considering how blockchain might be used in global supply chains to realizing its evident promise across transport modes and continents.
Supply chain is often described as the vital and crucial link required to get the product from the manufacturer to the market place for ultimate consumption by the consumers..
While this is a simple enough definition or explanation, it is not as easy as it sounds, especially in specialised industries like Pharmaceuticals..
ShipChain is bringing together some of the experts in the supply chain and pharmaceutical industries to understand the past, present, and future challenges for pharma and medical supply chains in the COVID-19 era..
The expert panelists will examine how supply chains will need to adapt in order to weather the storm caused by this pandemic and the future of pharmaceutical and medical supply chains..
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).
In any sea freight transaction which covers the above processes, there are challenges that BCOs and/or Freight Forwarders face in terms of managing Rates, Bookings, Documents and Visibility..
As per market studies, 25-30% of all freight invoices issued are erroneous and that businesses have been overpaying service providers for years due to incorrect invoices.. In a $350 billion ocean freight market, this accrued revenue loss can be quite significant..
Now Haven Inc, a solutions-focused TMS provider is aiming to simplify the processes for the customers through their easy to use and intuitive app-based TMS platform specifically aimed at international shippers..
The platform is said to have proven successes with some of the largest companies in shipping including Top 5 CPG, and Top 5 US Exporter using it..
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..
The Master of the APL England was charged for offences relating to pollution and/or damage of the Australian marine environment as a result of poor cargo loading but has been allowed return home on certain bail conditions while the ship is still detained in Brisbane..
A look at some of the comments from some Captains, seafarers and industry experts on whether ship Captains be personally responsible for the safety of cargo on board..??