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To the uninitiated (which included me at one stage), these industries are same or similar and it might come across that there is no difference between Maritime, Shipping, Freight, Logistics, Supply Chain and Trade. MaritimeIndustry. Trade is the reason all above businesses from 1-5 exist. An estimated 89.5%
These bodies have called on regulatory bodies and the broader shipping, logistics, trade and supply chain industry to realise, acknowledge and recognise the benefits of using digital technologies in various ports around the world. PROTECT Group. have launched a call to action to achieve several objectives on priority.
Lee Hong Liang has written an interesting article about the call for standards in maritimedocumentation. The desires of maritime operators to work as local optimizers has hurt … Continue reading → To my view, it’s no doubt needed badly, and has been for years.
The world of ocean shipping, freight, maritime, logistics, supply chain, and trade is a complex world with stakeholders having to navigate a quagmire (always wanted to use this word in a sentence ) of processes, documents, regulations, and standards.
Key Regulatory Areas Several key regulatory areas impact global shipping and transportation: Customs Compliance: Businesses must ensure that all shipping documentation, including bills of lading, commercial invoices, and certificates of origin, is accurate and complete. Security protocols also continue to evolve.
In shipping, documentation, freight insurance, terminal problems, and trucking shortages are just a few of the problems we face today. But the biggest issue to address in the documentation category is the bill of lading (BL). Express release is the fastest and most convenient method industry wide.
From a supply chain perspective, the documentation side can be arduos. In times to panic, you can see container rates shoot up from around $2,000 to over $20,000 on some routes, and this is when most people learn just how crucial ocean freight is to our global economy.
What would it look like for the logistics industry if a border closure from the trade war was put into place by either Mexico or Canada? The impact would affect personal travelers and the logistics industry alike. Already we are starting to see some shifts such as Mexico cracking down on entry requirements for U.S.
The logistics industry is taking on a different shape and approach every day. The change is constant, and changes in the logistics industry come from multiple directions. The logistics industry controls and contributes to the economy of any country as they bring in foreign currency.
As discussed by many on More Than Shipping in recent weeks, demand in the global shipping industry has fallen to pre-pandemic levels. But it doesn’t fix the problems that the industry uncovered throughout the pandemic, nor provide job security for those who have been over worked in congested ports since 2020.
As we approach the conclusion of 2023, the maritime shipping industry faces challenges that have impacted ocean carriers with declined profits and increased price-driven competition. However, here is my take in terms of what to expect for ocean shipping and in the broader shipping industry.
With the official departure from the European Union on 31st January 2020, followed by subsequent negotiations and agreements, the impacts continue to reverberate throughout the industry, raising questions about its future trajectory.
VesselBot, a technology company that brings transparency to Scope 3 transportation emissions, has released the December 2023 edition of its comprehensive report titled ‘Decoding Maritime Emissions – Highs, Lows, and Green Leaders across global ocean routes.’ Key Statistics: 1.
Navigating Regulatory Shifts: Billing Updates in Per Diem Invoices Search Search Dana Ricksecker - May 29, 2024 Navigating the intricacies of per diem billing can be a daunting task for many in the logistics and shipping industry. With ever-changing laws and regulations, shippers and carriers continue to face challenges.
The eBL, a digital version of the traditional bill of lading, is reshaping the way businesses manage and streamline their shipping documentation. The bill of lading is a crucial document in the shipping industry, serving as a receipt of goods, a contract of carriage, and a document of title.
Heads of the world's leading associations for the world port community met recently in London at the Baltic Exchange to establish a stronger, unified voice of the port sector in the maritimeindustry as a whole. "It IBIA - International Bunker Industry Association. Navigating a Changing Climate. Taskforce Port Call Optimisation.
The munitions industrial base is a segment of a nation’s defence industrial base and the primary producer of military munitions. The forms of the munitions industrial base take up many forms and depend on the country. Major problems, such as industrial accidents, can easily halt production. Manufacturing.
Touted as an open and neutral industry platform underpinned by Blockchain technology, Tradelens is supported by major industry players such as Maersk, Zim Lines , PIL , CMA CGM, MSC, Hapag Lloyd and ONE. CMA CGM, Maersk, Hapag Lloyd, MSC and ONE were Parties to the Agreement and IBM and Maersk GTD Inc were Platform Providers.
Maritime transport is essential to the world’s economy because more than 90% of the world’s trade is carried by sea. Guesswork about container location or estimated time of arrival costs the shipping industry as much as $20 billion annually , according to Boston Consulting Group. Book your ticket now. ].
Digitisation, Digitalisation, Digital Transformation are some buzz words that have recently taken the shipping and freight industry by storm. Let’s take a quick look at what these terms mean and what it is all about. Digitization may be defined as the transition from an analog format to a digital format.
Is The Freight Industry Ready For SOLAS? And those shippers that don’t already will need to purchase weighing products or services, adding cost and time to an industry already under pressure to speedily deliver goods. Cathy Roberson thinks this has a lot to do with the industrial situation.
They provide the necessary space, assist with documentation and insurance, and facilitate customs clearance. They must register with the Federal Maritime Commission and are classified as Ocean Transportation Intermediaries. Customs brokers handle this process by submitting cargo details and providing necessary customs documentation.
However there are still several incidents of such cargo misdeclaration including hazardous goods which have caused several maritime disasters. As a result, TT Club commissioned Exis Technologies to develop e-learning training courses for the transport industry; CTUpack e-learning ?.
The global shipping industry heavily relies on accurate and timely documentation, such as the Bill of Lading (BOL), to transport an astounding 11 billion tons of cargo annually. However, supply chain disruptions caused by document delays or loss can have severe financial consequences for businesses. million per event.
The world’s reliance on maritime transport makes it more important than ever to keep ships moving, ports open and cross-border trade flowing, and to support ship crew changeovers, the United Nations maritime and trade entities said in a joint statement. IMO Secretary-General Kitack Lim has endorsed a series of? protocols ?developed
As if astronomical freight rates are not enough, understanding the anatomy of freight quotes and invoices requires an in-depth knowledge of the shipping industry that’s missing in many smaller companies, leaving managers unsure of their actual costs and what they comprise. Documentation fees. A Multitude of Cost Components.
The penalty fee is applicable if there is a misdeclaration of cargo weight details at the time of submission of booking submission and if the weight deviates +/- 3 tons/TEU from the weight on the final Bill of Lading Instruction details and Verified Gross Mass (VGM) documentation. Few examples below. Enter SOLAS VGM.
The global maritime and transportation industries have long played a vital role in facilitating the movement of goods and people across borders, writes Captain Steve Bomgardner, VP Commercial Markets, Pole Star Global. Another common method involves counterfeiting cargo and vessel documents to disguise the true nature of shipments.
Digitalization of documents, as well as blockchain-based solutions for many responsibilities and functions, is one of the main boosters of that disruption. 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. Digital Logistics.
I have the opportunity to work with the best in the logistics industry, having been on both the Carrier and NVOCC sides of the business. Expertise of Freight Forwarders Freight forwarders are well-versed in the knowledge of how to handle the customs regulations and documentation for your international shipments.
If you look at many of the news items about the industry recently, there has been a certain buzz and intensity around the electronic bill of lading. 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.
Working together with GateHouse Maritime, we can advance the capabilities of myleo / dsc and move closer to our goal of delivering an easy-to-use, efficient and future-proof logistics execution and collaboration platform for all industries and modes of transport.”.
428(98) on Maritime Cyber Risk Management in Safety Management Systems. “As shipping catches up with other industries such as banking and telco in terms of digitization, the need for cyber risk management becomes an imperative,” said Thomas Bagge, CEO, DCSA.
At More Than Shipping, we are committed to informing you about the ongoing negotiations between the International Longshoreman Association (ILA) and United States Maritime Alliance, Ltd. USMX) and how it could affect your supply chain operations. The existing contract between USMX and ILA expires on September 30th.
The Federal Maritime Commission (FMC) is an independent federal agency responsible for regulating the international ocean transportation system of the United States of America for the benefit of US exporters, importers, and the US consumer. Regional supply chain innovation teams working fine. I continue to encourage all U.S.
The COVID-19 pandemic has made it incredibly difficult to facilitate crew changes on ships and despite collaboration and cooperation with many stakeholders in the industry, this problem still remains unresolved and there are still around 200 000 odd seafarers estimated to be trapped on board. million seafarers serving onboard ship.
Over the past year, we’ve often discussed the necessity for the shipping industry to adopt green fuels at large on More Than Shipping. The 2050 goals of becoming carbon neutral have been well documented. One of the fuel sources the industry looks to is hydrogen based.
The Covid pandemic and post-pandemic eras have accelerated the use of technology and automation even faster in the shipping industry. From pricing to documentation, from giant ocean carriers to small size brokers, everyone is pushing for customers to use digital portals, communicate less with their people, and automate as much as they can.
Like many industries, the ocean freight sector is caught somewhere between using age-old systems that still technically work, and moving into the digital world. Blame the high volume of required documents—invoices, bills of lading, letters of credit, and inspection certificates, etc.—with It’s quite a lot of back and forth.
Potential stakeholders include donors, regional maritime technology cooperation centres, various decarbonization R&D centres, Global Industry Alliances, financial institutions, and more. The preparatory phase of IMO CARES is designed to identify various key stakeholders who might become part of the long-term IMO CARES programme.
Today on Labour Day, we pay tribute to these brave souls, the backbone of the maritimeindustry. She has been Managing Editor for a leading global maritime publication, is a Director on the Board of Mission Seafarers India Association, a passionate advocate for seafarer issues and a champion for gender diversity.
This is true in logistics more than many industries. Humans helped our industry navigate through these issues. In another case, algorithms produced by AI may determine or predict when a customer may need an order and may simply complete the documentation for you to save time.
Role and Functions of a Carrier Carriers in the shipping industry have a clearly defined role : to physically transport goods from one location to another using various types of vessels. We must acknowledge the impact our understanding of their differences can have on making more informed decisions in the logistics industry.
Some of the specific positive effects of current and potential technologies on the supply chain and logistics industry are outlined below. Technologies such as Artificial Intelligence (AI), Machine Learning, and Robotic Process Automation (RPA) optimize tasks like order processing, documentation, and customs clearance.
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