FMC publishes TradeLens agreement

shipping and freight news

TradeLens is a digital alliance among container shipping lines started by the teaming up of Maersk and IBM to offer customers digital freight solutions..

Touted as an open and neutral industry platform underpinned by Blockchain technology, Tradelens is now supported by major industry players such as Maersk, Zim Lines, PIL, CMA CGM, MSC, Hapag Lloyd and ONE..

This platform received a major boost on the 23rd of December 2019 when The Federal Maritime Commission (FMC) published “The TradeLens Agreement”..

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Scale-less weighing of containers for SOLAS VGM

scale-less weighing

SOLAS VGM – probably a term which may have slipped many people’s minds as it seems to have successfully integrated itself into the mainstream container shipping process since its mandatory implementation in July 2016.. Now it seems to be back, but in a good way though..

In July 2016, the International Maritime Organization (IMO) issued a mandatory requirement which required all shipping containers to be weighed and the weight information (Verified Gross Mass) be provided to the shipping lines as part of the SOLAS (Safety of Life At Sea convention) Chapter VI Regulation 2..

This requirement came on the back of continued misdeclaration of weights by shippers many of which resulted in incidents at sea causing loss of property and/or lives..

The regulation allowed shippers to provide the VGM to the carriers using two different methods

  1. Weigh the packed container using calibrated and certified weighing equipment like a weighbridge to get the VGM
  2. Weigh the cargo, dunnage, lashing material and add the tare weight of the container to get the VGM

Although there has not been any real comments or incidents relating to the misdeclaration of weights after the implementation of the SOLAS VGM regulation in 2016, it has been reported that shipping industry has been struggling with Method 1, as physically weighing every shipping container requires significant efforts and costly, space-consuming scales..

Well, it seems there is a solution for that..

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Trade and Digitalisation

Trade and digitalisation

Trade as we know it (or don’t know it) has been around for centuries in various forms across various time-lines..

Starting from trade on the Silk roads around 1st century BC, through the Spice Routes between the 7th and 15th centuries to the current age of globalisation, trade has come a long way indeed..

While the business of trade itself hasn’t changed from the basic concept of buying and selling, the methodology of trade and trade patterns have changed drastically especially over the last few decades..

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Freight benchmarking and its benefits

freight benchmarking

Benchmarking – is a business tool used by companies to evaluate and compare the current position and standing of the company against similar companies and organisations in the same business space in the market..

The point of benchmarking is to identify opportunities for improvement of your products and services by comparing your company’s performance, processes, costs against a bigger and better market competitor..

This could mean tweaking your company’s products/services to match the competitor’s offering in the market or by improving your scope of services..

Freight benchmarking is a benchmarking tool in the shipping and freight industry used by various role players in the industry such as BCOs, freight forwarders and shipping lines..

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G2 Ocean to strengthen its digital footprint

Digitalisation - shipping and freight resource

Developing, implementing and providing new digital solutions to its customers lies at the core of G2 Ocean’s business. 

For many companies in the shipping industry, where the digital transformation is moving slower than many other industries, new developments such as Blockchain, Internet of Things, Big Data, Machine Learning and Artificial Intelligence are merely buzzwords.

But not to G2 Ocean. Since the company launched in 2017, it has had a continuous focus on developing and implementing new digital solutions for its customer, employees and partners.

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China to expedite development of Blockchain Technology

shipping and freight news

When the President of the 2nd largest economy in the world and the world’s factory China urges for the development of blockchain technology to be expedited, you know things are about to get real in the world of technology..

Plans are afoot to make Blockchain technology a key part of China’s innovation program and also to increase investment in the sector..

Hot on the heels of this call by the Chinese President, The Standing Committee of the 13th National People’s Congress in China passed a cryptography law on the 26th October that will be effective on January 1, 2020..

If this is not focus, then I don’t know what is..

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Intermodal Europe 2019 to showcase the best of innovation and technology in the container industry

The world of shipping and freight is getting bigger and bigger but thanks to all the technological advances and digitalisation it is also bring all players in the industry closer than ever before..

However, meeting people face to face, sharing issues of mutual interest and benefit and thrashing out common problems and finding solutions has a special flavour and charm to it.. Not to mention the experience you gain out of meeting experienced people..

Intermodal Europe 2019 to be held between the 5th and 7th of November at Hamburg Messe promises to bring out the best in terms of its offering to the industry..

Some of the interesting topics presented include………………………….

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Don’t fear Supply Chain visibility – Embrace it to beat the monster

supply chain efficiency

Supply chain visibility remains a hot-button topic for supply chain executives. When executed correctly, it can open the door to new efficiencies, contributes to higher profitability, and reduces risk.

Meanwhile, the premature launch of systems and processes can dramatically add to costs. As Halloween approaches, poor implementation of visibility-gaining systems will reveal a monster.

This monster cannot die; it’s not susceptible to daylight or even the most intense of prayers. Instead, the supply chain visibility monster looks to show exactly every facet of an operation, including those you wish stayed hidden.

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Digital Standards for the shipping industry

digital standards

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..

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