MSC Mediterranean Shipping Company, a global leader in container shipping and logistics, is officially introducing the electronic bill of lading (eBL) for its customers around the world, following a successful pilot phase, using a solution on an independent blockchain platform WAVE BL.
Haifa, Israel – March 15, 2021 – ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) and Marius Nacht, one of Israel’s leading serial entrepreneurs and investors, announced today that they have … Read more here..
project44®, the global leader in supply chain visibility, today announced it has acquired Ocean Insights, the number one solutions provider for ocean freight intelligence. Terms of the acquisition were not disclosed.
Timber is one of the most common and popular forestry products shipped around the world with a global export value of around $270 billion.
Digitalisation is sweeping through many industries including the timber industry, bringing with it dramatic reductions in the cost of obtaining, processing, and transmitting data achieved and changing the way we do business globally.
The Timber & Technology Conference 2021, organised by Centersource, is a virtual conference, which will discuss Global Market Developments & Innovative technologies in the timber industry and is a perfect platform for sawmills, importers, traders, and forwarders to understand and navigate global timber markets and work more efficiently.
In Part 1 of this article I wrote a bit about the history of globalisation and trade and its connection with the bill of lading and the road to Electronic Bills of Lading..
I also posed the question whether you and your country are ready for electronic bill of lading..
An electronic bill of lading is a paperless bill of lading that is issued electronically said to fulfill the above functions in the same manner as a traditional paper bill of lading..
Many believe that the electronic bill of lading will be a game changer in the shipping industry with its faster, efficient transactions, reduction in costs with greater security and less risk..
While various countries have various regulations and legislations which allows contracts to be created and signed electronically, the legal status of the electronic bill of lading seems clear as mud..
2020 threw at us a potent concoction of virulent market conditions including a pandemic, skyrocketing freight rates, reduced availability of space and equipment on container ships, unprecedented demand and port … Read more here..
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..
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.
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..
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..
DCSA has published data and process standards for the submission of shipping instructions and issuance of the bill of lading (B/L).
DCSA B/L standards are aligned with the UN/CEFACT (United Nations Centre for Trade Facilitation and Electronic Business) multimodal transport reference data model to ensure a global industry framework that accelerates digitalisation through a unified industry effort.
Industries across the world are witnessing a wave of digital transformation through disruptive technologies that promise to change the whole landscape of how things are done.
As an industry, forestry has not been left behind, and digital transformation has made its way into it.
However, technological advancements have surprisingly not made many changes in the processes within the industry.
- We indeed have various software to speed things up with operations but are we really automating processes?
- Have we been able to eliminate brokers or intermediaries who claim to facilitate processes within the industry but actually add layers that translate to complexity?
BIC (Bureau International des Containers) and DCSA (Digital Container Shipping Association) today announced completion of their collaboration to standardize the codes used to identify facilities such as depots, container yards, M&R vendors and other supply chain container facilities.
A research report by Paul Zhang, Founder & CEO of FreightPaul, a Chinese digital freight forwarder explores the digital landscape among Chinese freight companies including the various digital tools used by these companies..
The report outlines the process of digitalization in the freight industry of China and how usage of digital tools such as cloud computing, data analytics, and artificial intelligence techniques is enhancing the service of transportation and speeding up the process of movement of goods from warehouses and factories to the final consumers.
Fonterra, one of the world’s leading international dairy processors, has completed its first e-presentation for a shipment from New Zealand to China using WAVE BL’s blockchain-based technology with HSBC as the banker.
This fully digital end-to-end Letter of Credit presentation, in which digital documents were cryptographically signed and presented using WAVE BL’s platform, is an example of the regular flow of documents between companies and banks during the international exchange of goods.