Digitalisation is the buzzword making the rounds currently, especially in the shipping and freight industry..
IT boffins are creating it, VCs are funding it, Entrepreneurs are finding new uses for it, Freight Forwarders, Shipping lines, Banks and Ports are adopting it, riding the wave of digitalisation..
There are many use cases relating to technology in the shipping and freight industry, but nothing screams “we are serious about digitalisation” more than a company running a competition for container operators, in which the winner gets to convert their entire container fleet into Smart Containers..
Yes, you heard right.. An entire container fleet..
We caught up with Shachar Tal, the Co-Founder of Loginno, the company that ran this competition..
China, often termed as “the world’s factory” is unavoidable when it comes to global trade. As of 2017, China accounted for 15% of the world’s GDP. China’s GDP is 64% of that of USA thereby making it the second largest economy in the world.
For majority of the countries around the world, when importing Chinese products, international freight movement is required and you will definitely deal with a variety of freight forwarding companies.
Unverified statistics indicate that in the city of Shanghai China alone, there are more than 10,000 freight forwarders registered. It is conceivable that the total number in China is even more astronomical.
Chinese freight forwarders have also had a bad rap due to a few of them perpetuating fraud and other illegal activities which are affecting many of the legitimate Chinese freight forwarders.
“How can I choose a qualified freight forwarder in China from such a large number?” is a question that might be on the minds of many people.
David Fan gives you some guidance through different perspectives based on many years of industry experience.
The nature of logistics and transportation requires extensive labor and a culture of trust. A typical freight shipment endures dozens of touch points in the freight’s journey, and data entry or documentation capture is, unfortunately, an after-the-fact process.
In actuality, the priority of those in each touch point is usually the freight, not necessarily the data. Companies who have developed automated technologies to capture and track data still have the problem of data integrity.
Either the data cannot be verified by other supply chain partners, relying solely on what is present, or there is no mechanism to validate the data itself.
As the world of transport continues to increase in complexity, the merging of blockchain and artificial intelligence will be where technologies come together to digitize freight.
Innovation, creativity and digitalisation is in full flow within the shipping and freight industry.. The ubiquitous freight container has remained the same in terms of its design and structure and has not undergone much significant change in the last 50 odd years.. But in the recent past, it is being transformed quite dramatically.. Whether as a smart container or as … Read more here..
Another one bites the dust.. By this I mean another company that is moving away from Paper Bill of Lading.. 🙂
It is inevitable that influential shippers and shipping lines are embracing tech one after the other.. Whether it is India’s first blockchain enabled Letter of Credit transaction, the first smart bill of lading issued using blockchain or the first blockchain based coffee exchange, technological innovations are here to stay in the shipping and freight industry..
G2 Ocean and Manuchar became the latest partnership to show that paper Bill of Lading is ready for retirement.. Together, they completed a successful pilot trial of CargoX’s blockchain-based Smart Bill of Lading Solution..
While traditional freight forwarder networks creates transparency, better connections and safe collaborations, the business model has not been a breakthrough by any means.. The way members conduct their businesses has remained the same, and the industry has been labelled antiquated and outdated..
If one looks at it objectively, it is easy to understand that it is the Freight Forwarder’s lack of digital resources and technological capability that has been restraining competitive growth in this volatile and digital market conditions..
Naturally, this has been noticed and the industry is seen by innovators in the technology space as a prime candidate for disruption.. They say that a paradigm shift is required if a freight forwarder aims to remain relevant, competitive and achieve greater efficiency..
2019 seems to be fast becoming the year of maritime disasters.. There have been several maritime disasters one after the other in the recent years, especially in 2019.. In the latest incident on the 25th of May, a fire broke out on board a container ship KMTC Hong Kong, at the Laem Chabang port in Thailand..
It has been reported that a fire erupted on the ship triggering a blast which left at least 25 workers suffering from smoke inhalation and other injuries, forcing officials to evacuate workers and temporarily close three piers..
We reported previously that 75 countries may face the chop from the IMO “White List” for alleged non-compliance of the relevant provisions of the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, 1978 (STCW)..
South Africa was one among the 75 countries and naturally SAMSA (South African Maritime Safety Authority) was quite concerned and had taken the matter seriously..
It has emerged now that through a series of discussions with the IMO, SAMSA (South African Maritime Safety Authority) has managed to pull back this de-listing.. 🙂