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..
If you are in the business of international trade you would have no doubt heard about a Certificate of Origin.. But not everyone is familiar with what is a certificate of origin, why it is required, who issues it etc.. This article aims to clarify these points..
A Trade agreement is a contractual arrangement between countries concerning their trade relationships and how they conduct trade with each other..
Customs department in the importing country may require a “proof of origin” in order to determine whether or not the cargo that is imported may be subjected to trade measures such as the preferential duty tariff (for stuff that is imported from with the PTA bloc), free trade deals, prohibited goods etc..
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.
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..??
“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..
Many things have changed in the last 30 years in shipping and freight..
Many positive new developments have taken place with things from the vintage days of shipping either obsolete to almost obsolete now..
If you look at many of the news items about the industry recently, there has been a certain buzz and intensity around the electronic bill of lading..
I am fairly confident that people entering the shipping and freight industry in the next decade will be told that 2020 was the year that saw the beginning of the end for the paper “Bill of Lading” and the year in which the switch to “Electronic Bill of Lading” (eBL) began in earnest..
COVID-19 has created an unprecedented disruption in the global supply chain.. 67% of supply chain professionals say that investing in freight technologies is the only way forward.. Take this quick 5-minute survey to check your readiness..
Executive Insights is a series by Shipping and Freight Resource that provides ongoing insights and thoughtful analysis enriching the knowledge of the readers with what is happening in the shipping, freight, maritime, logistics, and supply chain industry..
Executive Insights is also a chance to pick the brains of industry veterans, leaders, and enablers..
In this edition of Executive Insights, we caught up with Sri Himakuntala, President & Chief Executive Officer of Intellect Technologies about digitalising the shipping ecosystem..
Probably not related to COVID-19 but right on time, Ocean Network Express (ONE), the world’s sixth largest container line became the latest shipping line to offer fully electronic bills of lading to their customers..
As we have seen, we are in a unique moment in history as COVID-19 sweeps through the world affecting all countries around the world and in many cases disrupting the flow of physical documentation flow, especially with regards to Original Bills of Lading..
ONE announced recently that they handled their first ever electronic negotiable Bill of Lading (eB/L) using essDOCS’s paperless document solution, CargoDocs..