Smart Computers, Smart Phones, Smart Cars and now Smart Bill of lading..!!!!
Shipping documentation in its current form has been around for many decades and has been working quite well..
There are several factors that are involved in the preparation, checking, transmission, hand over, payment and many of the intrinsic activities involved in the process of a bill of lading..
When I first heard of the Blockchain based Smart Bill of Lading by CargoX, I was a bit unsure as to how this new technology will replace all of the above as there are several such products trying to break into the shipping and freight industry in the name of innovation, digitisation, IoT, SaaS etc..
So, when CargoX asked me to have a look at how this blockchain based bill of lading system and process actually works, I proceeded to have a look with a tad bit of skepticism..
But before I share the details of my review, experience, impression and opinion, let’s take a quick look at what is a bill of lading, what is a blockchain and how these work together and fit in the process of a shipment..
As you are aware and as has been featured several times on this website, misdeclaration of container weight has been a big problem for ship owners and operators and is reported to have caused several accidents..
Now, a tech company in New Zealand claims to have found a unique solution for shippers to weigh the containers in a quick, easy and cost effective manner..
Smart containers are containers which are equipped with sensors designed to provide real-time tracking of their location and movements..
Using this technology, whether you are a shipping line, customer or security agency, you can track the progress of your containers anywhere in the world, plan your equipment and stock inventory which could possibly lead to reduced costs..
Maersk Line is taking the RCM one step further by integrating a Virtual Assistant with it..
Executive Insights is a series by Shipping and Freight Resource that provides ongoing insights, enriching the knowledge of the readers with what is happening in the shipping, freight, maritime, logistics and supply chain industry and providing thoughtful analysis..
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 Michael Hohndorf, Vice President of Technical Services for CAI International, one of the leading container leasing companies in the world and their position in the market..
A Standard may be defined as a repeatable, documented and harmonized method of doing something, whether it relates to the manufacturing of an item or managing a process, quality of material etc..
Standards contain technical and documentary specifications or other information required to be used consistently as a rule, guideline, or definition..
Shipping is an industry that is currently deep in the process of digital innovation and enabling.. Several digital initiatives are being driven simultaneously by several groupings within the industry..
One thing that has been missing is the STANDARDS for all these digital services, but it seems that is also being addressed and Digital Standards are on the way..
Intermodal Europe 2019 is considered to be one of the premier conferences in Europe and this conference which will be held between 5th and 7th of November 2019 @ Hamburg Messe is now open for registration..
Cargo theft can occur anywhere along the supply chain affecting local logistics, transporters, storage yards, groupage operators, LCL consolidators, ports, depots, terminals, insurance, carriers and freight forwarders equally..
BSI Supply Chain Services and Solutions assesses that companies lose more than an estimated $76 million in UK alone due to cargo theft highlighting the seriousness of this issue..
TT Club one of the leading providers of insurance and related risk management services to the international transport and logistics industry and BSI have come together yet again to release the second edition of their report on global cargo theft covering the full year of 2018..
A Freight Forwarder is a multi-function agent/operator who undertakes to handle the movement of goods from point to point on behalf of the cargo owner..
For the freight forwarder involved, this may include a door to door movement, negotiating freight rates, nominating the carrier(s), booking the goods and handling all the documentary, operational and transportation requirements between the two points..
Digital freight forwarders are a new breed of freight forwarders who are disrupting the freight industry armed with the ability to offer the services of a freight forwarder but on an instant basis using online technology and data..
But they have several competition to contend with.. One of them is a “Digital Shipping Line“..
Say what..!!!!!!!!!!!!!!!!!!!!!!!! Who is a digital shipping line now..??
Well, another year has gone.. 2018 has been consigned to the annals of history..
2019 is here, all shiny, sparkling and new ready to carry the world of global trade, its cargo, its ships, its burdens, its struggles and bear the fruits or consequences of the developments and actions that took place in the industry in 2018..
As with every year, in 2018 as well, our world and our industry went through a lot of changes both good and bad..
From the entry of ONE into the container shipping market to all major lines preparing for the IMO 2020 Sulphur Cap, it has been an eventful year for the shipping and freight industry..
Here is my review of 2018 and the year that it was, for the shipping and freight industry..