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These events also caused supply chain disruptions — although not all the effects may have been fully realized yet,” he said. For example the The 2016 Hanjin maritime carrier bankruptcy left workers, ships, containers, and product stranded at sea and in ports around the world. Economic situation can cause product or labor shortages.
The once-tranquil seas are undergoing noticeable transformations, with the impacts of rising temperatures affecting maritime operations. This imminent danger hits the core of maritime operations, namely the ports. Challenge 4: Insurance Challenges The rise of extreme weather events creates dilemmas for the insurance industry.
The CEOs of leading global shipping lines have issued a joint declaration at COP 28 calling for an end date for fossil-only powered newbuilds and urging the International Maritime Organization (IMO), the global regulator, to create the regulatory conditions to accelerate the transition to green fuels and maritime decarbonization.
In this captivating article, we delve into the annals of history to explore the most important events that paved the way for the extraordinary development of logistics as we know it today. Their extensive network of ports, warehouses, and trading posts revolutionized maritime logistics. Cengage Learning. Christopher, M. The MIT Press.
Practitioners must develop a data analytics strategy that gives them insight into supply chain aberrations before catastrophe sets in. “If But with a black-swan event, it just magnifies the risk.”. Sign up for virtual event updates here. ]. The maritime industry — 90% of world trade travels by sea — is notoriously manual.
COVID-19 and Hanjin’s bankruptcy both have had significant impacts on the global supply chain and share commonalities in the following ways: Disruptions to global trade: both events led to delays and increased costs for shippers and manufacturers who had to find alternative ways to transport their goods.
Plus, extreme weather events and changing storm patterns challenge seafaring vessels. 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. from originally 3.5% as of January 1, 2020 [3].
Maritime insurance executives estimate that 3,000 containers have been lost at sea over the past few months alone. For example, a recent maritime accident in December 2020 resulted in freight being held in Japan. Consider purchasing maritime insurance. Develop a resilient supply chain strategy. What’s the reason for it?
Climate Change and Extreme Weather Threats to maritime infrastructure and vessel operations could come from rising sea levels and more frequent extreme weather events. It will be necessary to employ adaptation strategies to lessen these effects.
Adding to the woes was the Suez Canal incident, a maritime black swan event that has led to severe complexities. Market analysts at project44 have created a survey to dig deeper into issues stemming from port congestion and the capacity strain to identify strategies that businesses are taking to navigate this tricky environment.
In the wake of the industrial digitalization strategy, key actors have adopted and implemented such solutions that aim to upgrade conventional freight containers with onboard tracking and monitoring capabilities, security devices, and other multiple sensors, eliminating inefficiencies. support tools.
Our business development & leadership teams have been all over the world, attending major blockchain conferences and hosting a suite of events specific to shipping and logistics. Enhancing our communications strategy was step one to further reinforcing this mission. Upcoming Events. The past few months have been a whirlwind!
Our business development & leadership teams have been all over the world, attending major blockchain conferences and hosting a suite of events specific to shipping and logistics. Enhancing our communications strategy was step one to further reinforcing this mission. Upcoming Events. The past few months have been a whirlwind!
Easyfairs has officially opened registration for this year’s exclusive AntwerpXL (AXL) event at the Antwerp Expo in Belgium, taking place from 8 October to 10th 2024. The premier conference and exhibition is a key maritime and logistics event dedicated exclusively to the breakbulk, project cargo, heavy lift and Ro-Ro sectors.
The maritime industry often operates on extended timelines due to the nature of shipping contracts and the time it takes for vessels to move across oceans. The maritime industry often operates on extended timelines due to the nature of shipping contracts and the time it takes for vessels to move across oceans.
As an industry, it’s imperative for us to learn from this and develop strategies to minimize the impact of similar blockages should they happen in the future. An excellent logistics plan with an excellent logistics partner combine to ensure resiliency against even the most unexpected events.
So three months after an executive meeting on June 23rd , an updated strategy was released, tracking a radical shift into a slimmer Maersk, focused on providing end-to-end logistics services. The Post-2016 Strategy: End-to-end Shipping. And this is where Maersk’s acquisition strategy really starts to rear its head.
Potential stakeholders include donors, regional maritime technology cooperation centres, various decarbonization R&D centres, Global Industry Alliances, financial institutions, and more. The foundation Project will undertake regional and global consultation workshops to design the key elements and framework of the global programme.
Regardless of their size, companies are reassessing their global supply chain strategies. and European companies to reevaluate their supply chain strategies. One of the biggest impacts of decoupling in the supply chain is that it helps minimize the impact of unexpected events.
I want to say a special thank you to Steve Banker and Conrad Hanf who I have worked closely with for the last 10+ years on Logistics Viewpoints as well as countless research projects, surveys, and events. The seller marketplace is part of Walmart’s larger strategy to expand its services beyond those of a typical retailer.
This is the 4th year of the event, which seems to get bigger and better each year. I will be participating on the following panels: Monday, June 26, 2006 14:00 - 15:00 Pre-Summit Workshop 1: Open debate about performance metrics and pricing strategies. It will be held at the Intercontinental Buckhead from June 26th until June 28th.
Starting with the Red Sea, ocean expert Lars Jensen, of Vespucci Maritime, argued that the disruption is really a challenge, not a crisis. Jensen also pointed out, though, that with capacity being used for diversions, there is little slack available should any additional disruption arise, and such an event really could cause a crisis.
Since the historic referendum in June 2016 Brexit has been a seismic event, reshaping the landscape of the UK’s logistics and transport sector. This approach fosters a more inclusive and efficient logistics ecosystem, benefiting all parties involved and reducing the effects of events like Brexit damaging their operations.
Easyfairs has officially opened registration for this year’s exclusive AntwerpXL (AXL) event at the Antwerp Expo in Belgium, taking place from 8 October to 10th 2024. The premier conference and exhibition is a key maritime and logistics event dedicated exclusively to the breakbulk, project cargo, heavy lift and Ro-Ro sectors.
American based gCaptain provides maritime information to some 600K unique monthly viewers, with a focus on commercial marine and offshore energy. Senior Director, Content, at IHS Maritime & Trade. The JOC newsletter spans the globe, providing information targeted at carriers, shippers and forwarders. joc_updates. Peter Tirschwell.
million per event. By understanding the statistical significance of supply chain disruptions and the potential risks and costs involved, businesses can adopt proactive measures and comprehensive risk management strategies to preserve the integrity of commercial transactions.
This event, observed in the U.S. The National COSH also recognizes the impact these preventable events have on family members. With the core of its strategy centered around creating a sustainable future for fashion, ThredUp has intertwined ESG practices into the selling and buying experiences of a new generation of consumers.
Insurance products on the market are truly diverse and you need a clear strategy for selecting the one that will work best for your shipments. Land cargo insurance risks and events that occur on land. General average is a notion that had evolved from the maritime industry. We outline the most common types for your consideration.
The end of project report released today by the Decarbonising UK Freight Transport (DUKFT) Network, suggest several ways to overcome the chicken-and-egg problems associated with decarbonising road, rail and maritime freight transport.
Net revenue growth was driven by strong Freight Forwarding yields; higher warehouse utilization and new facilities in Contract Logistics; and greater contributions from specialty products (Project Logistics and Fairs & Events). To strengthen performance and its market differentiation, GIL is implementing its digital strategy.
The ever-growing threat of cyber-attack on the maritime industry has only been magnified by the Covid-19 pandemic. Multiple recent cyber-attacks on the maritime industry have caused significant disruptions at great cost, raising awareness and highlighting the crucial importance of cybersecurity.
This year’s recent TPM – the annual transpacific maritime conference hosted by the Journal of Commerce in Long Beach, CA at the end of February – was a combination of post-pandemic debrief, projections for the rest of the year and beyond, and lessons learned. What just happened??? What happens next?
Cutting greenhouse gas emissions from shipping and port operations came under sharp focus when the Maritime Authority of Jamaica hosted an important workshop on the Prevention and Control of Shipping and Port Air Emissions. It also provides training on the development of strategies for the reduction of air emissions in ports.
Meachers, signed up as a member at the launch event alongside founding members the Solent Local Enterprise Partnership (LEP), global energy provider ExxonMobil and University of Southampton.
The European shipowners together with MEP Wim Van de Camp yesterday organised a seminar in the European Parliament to discuss the International Maritime Organization (IMO) initial Greenhouse Gas (GHG) emissions reduction strategy for shipping. . . The EU funding to the many Swedish projects to reduce shipping’s emissions was crucial.
Another is getting a product strategy in place. Some maritime executives had hoped the talks, which began in mid-May, would conclude in the early fall. The hiring commitments were announced Monday at an event in New York organized by the Tent Partnership for Refugees, which is pressing corporations to hire refugees.
Weather is an unpredictable force that can wreak havoc on logistics in Europe, but there are strategies to mitigate its impact. Germany’s post-2021 flood improvements in flood defenses and drainage systems show that learning from past weather events can lead to better preparedness.
Maritime Hall of Fame, Fortune and American Heritage magazines, amongst others. Early examples of intermodal containers include railroads from 1830s (various sized containers), and Pennsylvania Railroad regular container service (1929). Significance. From 1968, with intermodal container shipping proven, the container fleet rapidly expands.
Across four key sessions we will discuss how we can identify the real digital opportunity in front of us and re-define digitalisation in maritime and transport. The Speaker panel confirmed to date includes: Jon Key , Director of Strategy, Innovation and Transformation, Group. Cathy Hodge, Event Director, Digital Ship. +
For shippers, carriers and logistics providers, the JOC ’s TPM (Trans-Pacific Maritime Conference) is one of the must-attends on the annual events calendar. For freight companies to be part of this future, they must re-work their trans-Pacific logistics strategy (and more) to emulate the pioneers – Walmart, Amazon and Alibaba.
This great news was also met with record breaking events, such as the maiden calling of the ONE Columba to Laem Chabang Port in November last year that marked the largest container vessel to ever call a Thai port. Mr. Nixon: That was such a great event. What does that mean for Thailand and what does that mean for the network?
Deputy Prime Minister Somkid Jatusripitak laid out the broad outlines of a three-pronged investment strategy, involving mega-projects, development of the country’s Eastern Economic Corridor (EEC), and creation of digital infrastructures. None of this is stopping Thailand from embarking on a journey to achieve that very goal.
New York City plans to overhaul its aging freight distribution systems through strategic investments to modernize maritime and rail assets and create new distribution facilities. August 22, 2018 | By Felecia Stratton. In total, Freight NYC will remove 15,000 vehicles’ worth of CO2 per year.
Creating new freight distribution hubs.
Storms, disasters, war: although a large number of negative events occur every year, it is frightening to see how slowly companies can react to such disruptions to supply chains – even in highly industrialized countries. If they were to produce in Germany, they would generally not be competitive.
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