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Increasing supply chain data visibility is a priority for logistics organizations looking to improve resilience. Supply chain recovery hinges on incorporating robust data analytics and other data-driven tools into business operations to increase efficiency, reduce costs and proactively manage risk.
For the first time, there is real-world data that shows that wind power could be a viable source of energy to power container ships in the near future. Encouraging data has been released on using wind power for powering a cargo ship, according to the BBC. What did the results of the months-long test show?
For example, an analysis carried out by AIR on the potential impact of Hurricane Harvey on regional manufacturing found that, based on percentage of the total potential revenue loss, the top three subsectors are petroleum and coal products manufacturing (37%), chemical manufacturing (13%), and oil and gas extraction (12%).
Port congestion poses significant challenges to global supply chains, maritime trade, and overall economic efficiency. AI-Powered Optimization for Port Operations Data-Driven Decision-Making: AI algorithms analyze historical data, real-time information, and external factors to optimize port operations.
The Federal Maritime Commission (FMC) issued an Advance Notice of Proposed Rulemaking (ANPRM), seeking comments from the trade (public) whether they should require common carriers and marine terminal operators to include certain minimum information with regards to demurrage and detention billings. Container availability date.
So, going into 2025, I would like to focus on current congestion data, global trends and what U.S. For example, numerous ports are still severely congested today. . & Europe, insufficient infrastructure in West Africa and parts of South America, and a surge in general volumes were the main factors behind all the issues.
For example, receiving alerts about intentionally or accidentally opening container doors enables quick intervention to prevent damage or loss from environmental exposure. Access to reliable, real-time data also reduces the risk of fraudulent cargo insurance claims, leading to tangible cost savings through decreased insurance risks.
The ship broker will also benefit from new business opportunities arising from digitalization, such as having more up-to-date information about, for example, the status, position, and condition of ships to be sold and/or available for charter. Ship agents and ship brokers constitute a substantial part of the work force in the maritime sector.
To take the damaging effects of marine vessels into account, the International Maritime Organization (IMO) reduced their allowable sulphur fuel emissions to just 0.5% Maritime traffic. A storm, for example, could slow the vessel down and increase transit time from one port to another. from originally 3.5% Weather conditions.
The devices will improve visibility by transmitting data on a real-time basis from each container. Tracking devices from Nexxiot and ORBCOMM are being installed that will provide location data based on GPS, measure temperature, and monitor any sudden shocks to the container. It has so many data points.”.
More Resources Home December 6, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Freightos Air Index data show that China – N.
We experience such diverse supply chain disruptions that tracking the data on U.S. inventories and consumer behavior, and reconciling them with maritime supply/demand dynamics is getting harder each day. For example, recently Target was forced to write down the value of excess inventory that’s stuck in warehouses.
Nevertheless, there is still a lack of transparency in logistics, as data volumes are often insufficiently filtered and processed. BlueBox Systems is the first tracking platform in the air freight sector to deliver real-time visibility of the location of air cargo shipments with highest quality data.
Those industries include data communications, medical, industrial, automotive and consumer electronics. The 2010 Eyjafjallajökull volcano eruptions in Iceland, for example, caused enormous disruption to air shipments across Western Europe. The planners could choose to switch cargo from a slow-moving ship to air, for example.
The two other advantages that a full asset owner in the container space can leverage is the ability to combine data and containers for new and smarter services , as well as improved exception management for actually changing the trajectory of shipments when containers are underway. A Maersk ocean liner generates some 2 GB a of data per day.
The International Maritime Organization (IMO) has long been committed to reducing the industry’s carbon footprint, aiming for a minimum 50% reduction in GHG emissions by 2050 through stricter regulations and improved energy efficiency. This calls for a re-evaluation of strategies.
The main concept behind these digital services is the possibility of managing all the necessary documents and data with multiple parties in one single platform. In terms of data and documents, we can identify three groups of functionalities: · Assemble: generation and management of compliant shipping and trade information.
However there are still several incidents of such cargo misdeclaration including hazardous goods which have caused several maritime disasters. At the tip of the iceberg, for example, there are weekly reports of unitised fires on board ships, and historic average experience of a major ship fire every 60 days has been challenged in 2019.
New Georgia Ports Authority data shows that the port handled 1,184,387 twenty-foot equivalent container units (TEUs) in the first quarter of 2023. When we compare Georgia Ports Authority data to other busy container ports in the U.S., When we compare Georgia Ports Authority data to other busy container ports in the U.S.,
You see examples of this strategy in large brokerages today. Examples of portfolio diversity in the freight business. Customs Maritime Import Shipments on a monthly basis. This data can show you how importers are choosing to route their shipments. SONAR US Customs Maritime Import Shipments (CSTM).
By doing this, you can run a day or a week in the life of your operation and get back data on its performance capability. Examples of use. Then you can run different scenarios over a similar seven-day period, against the data you have collected, to create an accurate “compare and contrast” picture. Staffing requirements.
How technology can help companies get ETAs based on real-time data. For example, in a flight, the wind and its direction are also considered. On the other hand, in maritime transport, the weather and route must be taken into account. For example, consider drayage movement. The importance of working with accurate ETAs.
For example, there is a lack of skilled personnel to handle supply chains and the sheer volume of goods that are being moved is straining virtually all international ports. The Maritime Executive has reported on the post-Brexit trade patterns which have led to slowdowns in port processing.
The S&P 500 works because it taps into real, live data , with a representative sample selected by a committee of analysts along with the right methodology. In 1744 , the Virginia and Baltick [sic] coffee shop in London was the go-to place for traders to discuss maritime pricing. Breadth of data across geographies.
Technology can provide real-time data and improve communication, but human adaptability, innovation, and problem-solving skills are what ultimately determine an operation’s success. Below is a real-world example of the need for human involvement in logistics.
TechTarget defines cyber security as “the body of technologies, practices, and processes designed to protect computers, programs, networks and data from damage, attacks or unauthorized access. Gard quotes below live examples of cyber security incidents in shipping. 428(98) on Maritime Cyber Risk Management in Safety Management Systems.
The coming together of five organisations with shared visions for the safety and security of global trade will take advantage of unified information and data sources to bring greater awareness and understanding of issues with the goal of producing preventative output.
One area to watch: rail Heading into 2024 for example, in sustainability and technology improvements, rail is standing out far more than in past years as an attractive option due to the gains it has made in service, sustainability, and technology. This has been seen with AI, robotics, and specialized software.
GlobalData’s Ship Technology writer, Varsha Saraogi says: “Technology has become the driving force across many industries and the maritime industry is beginning to embrace its advantages. For example, in the past, data synchronization was a slow process and was done three or four times a day.
A coalition of countries is pitching a plan to the United Nations’ International Maritime Organization (IMO) to require global shipping companies to raise funds for an effort to deploy widescale fleets of zero-carbon emission cargo ships within a decade. The US truck driver shortage is hitting all segments equally hard, right?
one of the leading tech start-ups in the maritime domain for predictable and sustainable shipping, has formed a long-term global partnership with BigMile , supplier of software for calculating and analysing transport-related CO2 emissions. PortXchange Products B.V. , Enhancing decarbonisation through digitalisation.
Maritime Alliance, the group negotiating with for the ports has offered 50% raises over the six-year life of the contract but the union has signaled that it plans on sticking with its initial 77% pay increase over six years.
This agreement today is another example of the Port of Los Angeles’ commitment to further promote international cooperation and collaboration across the globe.”
Other data supports these patterns. For example, the Drewry World Container Index showed that the current spot rate of $9,371 per FEU is nearly seven times what it was in 2019. Lars Jensen of Vespucci Maritime suggested to American Shipper that global demand for the beginning of 2021 is 4% higher than it was two years ago.
With the further release of container inventory into the market, for example from the disposal of leasing fleets, there will be added pressure on depots in the coming months,” container logistics expert Christian Roeloffs stated in an industry update several weeks ago.
It’s no longer enough to provide copious amounts of data — planners must use the data to draw conclusions about future risks and opportunities. For example, labor strikes can impact day-to-day operations and create a backlog in the supply chain. This data, if used effectively can form a strong foundation for supply chain plans.
In the near future, supply chain management is expected to use IoT and edge computing to generate automated data in real time. For example, to predict equipment failures and reduce crash risks using visual and acoustic sensors in maritime transport. IMPLEMENTATION OF COLLABORATIVE ROBOTS (COBOTS).
CMI – The Comité Maritime International, is a non-governmental organization established in Antwerp in 1897 with the objective of unification of maritime law in all its aspects. Only the setting of digital standards will enable seamless communication and data transfer between all the role players in the chain.
The Government will work closely with research institutes and private companies to develop a new research ecosystem and tap the full potential of technological innovation (autonomous vehicles, big data…). Another example of effective collaboration is the Logistics Professional Conversion Program. Focus on Talent Development.
You Can Access Data Easily. A very good example of this is the inspection of bracket installation in fuselage assembly when a tablet camera superimposes a virtual image of the as-designed assembly over the real as-built product. Although this technology can be used in many applications, aircraft programs use it more often.
Examples are pre-hiring and background checks. Goods origination, third-party security, foreign customs are examples. This can mean supply chain data, applications, IT systems, and IT account access. Examples are ERP for manufacturing, CRM for sales and operations, and TMS for transport management. Business partner.
As a base for assessing its emissions outlay, fleets need to begin by collecting data and calculating greenhouse gas emissions, improving fleet, load and route planning, and reducing fuel and energy consumption. The biggest challenge for companies lies in data collection.
Despite all these issues, cargo handled has rose a whopping 22% in the period of December 2021/January 2022/February 2022 compared to the December 2020/January 2021/February 2021 period according to data from the Port of Houston. East Coast ports, especially Savannah and Charleston due to proximity.
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