Innovations are bringing change to ocean shipping

September 5, 2017

Digitalization is changing shipping dynamics, while renewable technologies are re-inventing the energy mix

 

Remember when you had to wait to flag down a taxi? Now we order a taxi via an app and it arrives at your door within minutes. Remember when you had to shop around for the cheapest product? Now the whole market can be compared at the click of a button.

Shipping innovation has been left fairly stagnant while all around us we see the profound impact of technological advancements. We continue to see human labor manually off-load mixed products of shipping containers, and then manually refill them for the next trip.

Ninety percent of the world’s trade travels by ship, the same as it was many centuries ago. But, unlike many centuries ago, the demand for freight shipping has seen exponential rises. The requirements for the industry are growing and technological innovations will provide efficiency gains in current business models.

There is a surge in tech start-ups seeking to modernize and pave the way for a new reality in global shipping.

Traditional charting procedures can consume a large amount of time and effort, trying to match vessel owners with your business needs. OpenSea seeks to solve this issue and bring freight shipping into the 21st century. It offers vessel owners a marketplace to match with suitable candidates, and with that offers customers an open market offering the best rates to suit your needs. Other similar market entrants include Kontainers, that again connects business and cargo ships with instant booking facilities.

Blockfreight uses blockchain technology to allow stakeholders to have access to an advanced automated global ledger with digital security, authentication, and chain of custody data associated with every freight container. It has the potential to reduce the inefficiencies associated with freight transactions, furthermore, claiming it unlocks the opportunity for new and innovative applications serving the needs of the global supply chain.

 

read the full article on freightwaves.com

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