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..
Blockchain seems to have become a prolific “enabler” of businesses, particularly in the shipping and freight and trade industry..
Whether in its use by Banks and Shippers to create Trade Finance documents; or creating and transmitting smart bills of lading; or setting up a blockchain-based marketplace app for trading in coffee; or making documentation easy for ports; or ensuring prompt delivery of mandarins for the Chinese New Year; Blockchain is making its presence felt quite rapidly in our industry..
Many shipping lines, ports, financial institutions and other private entities are using Blockchain and testing it in many different ways through many pilot projects..
Saudi Customs became the latest entity to successfully test drive its first shipment powered the blockchain technology..
The digital era for supply chain is well under way.. Technology and supply chain having seemingly become inseparable..
Technologies such as Blockchain, IoT, Big Data, Machine Learning, Artificial Intelligence are all finding their niche in the whole process of supply chain..
Whether it is in terms of issuing a smart bill of lading to a customer miles away or ensuring quick delivery of mandarins to China, technology has found its place in supply chain and its influence is growing..
Digital freight forwarders are leveraging these technologies and offering instant solutions as required by BCOs and others involved in the industry.. These technologies also seem to have spawned Digital Shipping Lines who are seen as serious competition to the digital freight forwarders..
There have been and are many discussions, arguments, disagreements surrounding these technologies..But one thing is clear and that is the fact that there needs to be lots of effective and productive discussions about the use of technology, the innovations that has already happened and their future..
If you are interested in such discussions, Microsoft New York Headquarters, 11 Times Square, New York is the place you want to be, on the 19th and 20th of June 2019..
The movement of goods over great distances using ships has been carrying on for many centuries.. Many things have changed in the shipping and freight industry over the years, but some things have not..
Today’s business environment is facing a lot of instability whether it is in the form of Brexit, trade tariffs, highly volatile freight rates or new maritime policies..
Now, more than ever, the industry needs people with experience and knowledge to help steer the new generation through the troubled waters..
People who have been there and handled shipping the vintage way but know much more than a thing or two about the modern shipping industry..
As part of our Executive Insights series, we caught up with Steve Walker, a consultant and adviser to many BCOs, freight forwarders and online freight companies..
In many ways, the transport industry is the backbone of human society. Various forms of transportation have been used for travel and trade since the 1800’s, by water, rail, road and air.
Today, almost everything we use, eat or drink is transported by vehicle and delivered to our doorstep or a nearby shop, and public transportation is essential in our societies for transporting people between home, work and school.
To ensure a seamless operation when delivering goods or moving people, transport enterprises have to manage hundreds or even thousands of vehicles at once.
Precision, efficiency and productivity are essential. Luckily, there are technological advances to help overcome many of the daily logistical challenges.
The world of digitisation and technology is upon us and the shipping and freight industry has been playing catch up compared to the other industries..
In November 2017, ZIM Line announced that the first pilot of paperless Bills-of-Lading based on blockchain technology was completed in cooperation with Sparx Logistics and Wave Ltd..
The pioneering pilot, the first of its kind led by an ocean carrier, was concluded successfully as part of ZIM lines new platform along with a selection of their leading customers to test this solution for trade activities on multiple shipping lanes..
Following this successful pilot, ZIM line has been evaluating its platform in different trade lanes with more customers and is now ready to move to the next phase of its blockchain initiative..