Ocean freight is the most common mode of transport that importers and exporters use. A full 90% of everything is, in fact, shipped by ocean freight and sea freight. Everything around us from what we eat, wear, seat and touch been transport. Cogoport is about empowering each and everyone choice.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 2.png" width="auto" style="width: auto; height: auto;"></a>Started in India, Cogoport helps coordinate the complexity required to move freight across varied network of logistics asset owners. As, no company is big enough to have all the assets required—trucks, container ships, trains, warehouses, and more— multiple asset owners.For every element of international cargo, the process would include customers&nbsp;having to find a truck in both countries, booking freight across the ocean, passing through customs on both sides of the ocean, storing goods in warehouses, and finally arranging the final delivery.On top of that, competitive rates have to be secured and the pricing needs to be clearly known to the end client, to make sure it’s plausible. For a traditional freight forwarder, all of the complex coordination is done using the conventional modes like phones, emails, fax machines, and physical pieces of paper, which are a hassle in itself. To date, there has been more take up of tracking technology in air freight than ocean or sea freight. So, how do we end this extremely fatiguing game?Cogoport is the solution!<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-1.png" alt="" width="300px">We are improving experience by bringing in softwares, not only promoting automation but also improving the user experience for customers moving freight, subsequently providing transparency, the most necessary element. As a result, our online dashboard gives customers more visibility and control over their structured supply chain than ever before, with transparent pricing and quick tracking.We help in lowering transaction costs and committing fewer errors, thanks to software-driven automation that augments human capabilities. Furthermore, we build specialised softwares, as we have a dedicated team of engineers that strives continuously to develop quality products best suited for our customers and serve them better.Cogoport promotes swiftness by bringing together human expertise and its fully online platform, with instant rate comparisons and live tracking, thereby providing complete transparency to ensure a smooth freight forwarding. In only a couple of months, we have become the most favourable to do business with, in this industry. We are not only making ocean freight hassle-free, but are preferred because we are quick and affordable. We are on the track to win as we have mastered not only the logistics behind ocean freighting but also, most importantly, the experience! We innovate to make you successful.

Hassle-free Ocean Freight: We Make You Successful

Hassle-Free Freight: How to Simplify Your Shipping Process

Logistics management can be rough. But the digital transformation in the supply chain industry is increasingly a quick solution.The freight forwarding industry has caught up with the wave of digitisation that has been pervasive across the rest of the sectors. The traditional ways of doing business are being replaced by modern solutions which have opened up various avenues for a tremendous amount of growth. This transformation has helped shipping organisations keep up with the intense pressure that comes with the increasing demands of today’s customers.Although the entire industry has benefited by migrating to digital solutions, the work of specific individuals has also been made easy — especially a logistics manager, who deals with a wide range of responsibilities daily. Let’s have a look into how adapting the digital ways in the logistics industry has helped a logistics manager. However, before that, let us understand what does a logistics manager do.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 3.png" alt="" width="300px">What Does a Logistics Manager Do?A logistics manager takes care of your goods while they are shipped from the source to its destination. However, how they do the job can often vary. They might focus on transport, or cover everything from booking containers and planning transportation to taking care of all the documentation and customer communication.Whatever the scope of the role, it comes with a range of challenges that call for detailed knowledge of supply chain management and a fair amount of resourcefulness.The ChallengesAt the heart of the daily challenge of logistics manager is the need to keep end customers happy.Every customer may have different shipping requirements. While some might need just a container, others might require the whole package. Whenever asked to book a container or transportation, the logistics manager needs to provide the best rates to its customers, for which he has to hassle a lot. Every shipment requires them to negotiate with the suppliers and provide a separate quotation which might take hours to generate, not the amount of time customers are ready to wait.Additionally, the shipping process involves many documents. Every paper received since the booking of a container needs to be kept track of. With multiple customers, there are chances of paperwork piling up. Misplacing even a single document can lead to delays in the arrival of the shipment, and in some cases, cancellation too. This affects both the business of the customer and the reputation of the logistics manager.Furthermore, customers expect full transparency from their logistics manager. They wish to be aware of the location of their shipments at any given time. To provide them with this information, the managers have to go through much trouble contacting the respective shipping line’s customer services every step of the way. Hence, shipping tracking for the customers is an issue logistics managers face daily, as it is directly related to a customers satisfaction.Lastly, keeping up with the variety of demands has also been troublesome for the logistics managers. Earlier, a customer’s logistics requirements were limited to one form of transportation. Nowadays, that is not the case. Instead of taking care of the goods from port to port, customers demand the logistics managers take care of the products from warehouse to warehouse. This means that they are required to provide trucking services too, which increases the work even more as trucking services becomes a whole new area to be managed.How Can Digitisation Help?Innovative players in this industry have realised that digitisation is providing efficient solutions to many of their problems. Logistics managers have turned to digital platforms like Cogoport to deliver more benefits to customers.With the help of these platforms, logistics managers can provide different freight rates to the customers instantly. The platform can quickly fetch the rates that are not available at the given time. Quotation generation for a shipment, that earlier used to take up to 48 hours is now available to the managers at one click of a button.Digitalisation can also make the crucial task of managing documents easier. A database is provided to the logistics manager where they can save all their documents and access them anytime they want. This ensures then even if a paper is forgotten or lost at any point of time; the manager can find it on this platform, hence securing the documentation process. If ever the customer wishes to view any document, they can always be given access to this database.By providing facilities such as real-time tracking, these platforms give the logistics manager the luxury of offering their customers with the real-time location of their cargo. Furthermore, by the use of certain onboard sensors, the condition of the cargo can also be monitored.Keeping in mind the increasing transportation duties and responsibilities of a logistics manager, digital platforms have made themselves a one-stop for all their needs. Including other forms of transportation such as trucking services has ensured that managers can fulfil every aspect of their order at one single place.What Does this Mean for the Shipping Industry?It can be safe to assume that putting methods of digital shipping into practice has a profound advantage over the traditional methods. Providing customers with a hassle-free platform satisfying all their logistics needs draws a clear blueprint for success. Logistics managers make up only a fraction of people who benefit from this change.We at Cogoport saw the need to make freight shipment easier for everyone and decided to ride this wave of digitisation. Implementing cutting-edge technology to solve the logistics-related problem, we aim to take this trillion-dollar freight industry online. If a freight forwarder is who you are, then we welcome you to do your business the digital way, here at Cogoport.

Going Digital: Journey of a Logistics Manager

Cogoport has been nominated for the FreightWaves&nbsp;<a href="https://www.freightwaves.com/awards/freighttech-awards-2023">Freight.Tech100</a>. I’m so very proud of our team. I love seeing their passion every day. Everybody is working closely together to make shipping goods across the globe easier, more efficient, and more transparent. We are democratizing the process of choosing how you ship your freight, while giving you true comparison capabilities on total landed cost, not just ocean freight cost.Great CompanyThe Freight.Tech100 recognizes the most innovative and disruptive companies in freight. Over 500 companies were nominated and a panel chosen by FreightWaves narrowed the list down to 100.We are in excellent company, with large companies like Amazon, FedEx, UPS, Toyota, and Daimler, but also fellow start-ups like Uber Freight, Loadsmart, GSCP, Peloton, and Thor. <img src="https://prod-cogoport.s3.ap-south-1.amazonaws.com/988f8591c56a18e7938aec378d1b5d18/Cogoport%20and%20nominees.png" alt="Cogoport and other nominated companies" class="center" width=""> Growing, Shipping, HelpingSince we founded Cogoport in 2016 we have kept growing and have been able to help thousands of importers and exporters with shipping their containers in a more efficient and transparent way. We have welcomed over 29 ocean freight carriers to our platform and we are getting close to the 100,000 container mark.That will be another moment to be proud of: 100,000 containers booked through the Cogoport platform. No slow steaming for us!Easier Than Booking a HotelWe are just getting started. We are making booking a container easier than booking a hotel. We want to give logistics and supply chain managers full visibility on their shipments and their cost. Transparency is key. No hidden costs. What you see is what you get. And what you get is peace of mind.Do you want a container brought to you? We can arrange delivery. Unexpected delays? We will help you with an alternative gate-in method. Trans-shipment issues? We will communicate directly with the carrier, notify all parties involved, and try to solve it if applicable. Want help with customs clearance? Consider it done. Need the container delivered to your end customer? We can arrange that as well.We are committed to add value to all stakeholders. We do that through technology. Technology is in our DNA, and we use it to make sure you save time and money at every stage of your (cargo's) journey.Search – Book – Track – RelaxThat’s it. And now I’m going back to innovating and disrupting.Photo by&nbsp;<a href="https://unsplash.com/photos/TamMbr4okv4?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Ian Schneider</a> on&nbsp;<a href="https://unsplash.com/s/photos/innovation">Unsplash</a>

Cogoport Recognised in the Freight.Tech100

<h3>Trade Deficit – What is this?</h3>A trade deficit, also known as Net Exports, is an economic condition that occurs when the imports is more than the exports in a country. The value of deficit is calculated as the difference in value of goods being imported and the value of goods being exported. This is one way of measuring the International trade of a country and is also known as the Negative Balance of trade.<a href="https://cogoport.com/signup/en-IN/?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" width="auto" style="width: auto; height: auto;"></a>Depending on the circumstances in the country involved, the duration and size of the deficit and the policy decisions made, trade deficit can confer positives or negatives for the country. In the current scenario, United States has the largest trade deficit by far, with an imbalance of more than $7.3 trillion which has been accumulated in the past decades. The other countries that are facing deficit are Australia, United Kingdom, Mexico and Brazil. In the meantime, there are countries that have surpluses by exporting more than they import such as China, Japan and Russia.<h3>What Causes Trade Deficit?</h3>One of the main reasons why trade deficit occurs is when the country fails to produce everything it needs, has to borrow from other countries and pay for the imports. This is known as Current Account Deficit.Trade deficit can also be a result of manufacturing happening in foreign states. The raw materials that are required for manufacturing are shipped overseas to factories in other countries which are considered as exports. When the finished products are shipped back to the country, it is considered as imports. The imports are subtracted from the GDP (Gross Domestic Product) even if the earnings support the company’s stock price.<h3>What are the Pros and Cons of Trade Deficit?</h3>Economists react to trade deficits in different ways. While it implies that the country is living beyond its means and accumulating too much debt, there are reasons to say that trade deficit can be more pro-cyclical and is moving in the same direction as its GDP.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 2.png" alt="" width="300px">Employment Opportunities – When a trade deficit persists in a country over a period of time, it can affect the economic growth and stability. If the imports exceed exports, the domestic jobs will be lost to foreign countries. Even though this makes theoretical sense, it is also said that there will be unemployment at low levels with trade deficit and there can be more unemployment in countries that have surpluses.Value of Currency – The value of currency of a country is directly impacted by the demand of a country’s exports. When the demand for exports of a country falls compared to imports, the value of currency should ideally decline. In other words, trade deficit indicates whether a country’s currency is desired in the world market. Foreign Investments – Trade deficit should be offset by a surplus in the capital and financial account. Nations with deficit experience greater degree of foreign direct investments and ownership of government debt. As a conclusion, trade deficits are not always detrimental in the long run as the currency will always come back to the country in some form or another, such as foreign investment.<h3>What is the Bottom Line?</h3>Theories suggest that that having persistent trade deficits can be detrimental for the economy of a country by affecting the growth, employment and currency. However, countries like the US which is one of the biggest deficit nations has proved this theory wrong, time and again. This might also be because, US is the world’s largest economy and dollar is considered as the world reserve currency.When it comes to developing countries, trade deficit can bring upon a negative impact if it persists for a longer period of time. However, the advocates of free markets suggest that trade deficit corrects itself over a period of time through adjustment of exchange rates. Secondly, when there is competition in the world market, trade deficit is bound to correct itself. Ultimately, the impact of trade deficit will be determined by the consumer preferences.

Trade Deficit Explained: Learn and Understand

One of the questions we get a lot at Cogoport is what the difference is between Cogoport and regular or digital freight forwarders. You can book a container shipment at a freight forwarder as well, right?Well technically, yes, you can. But there are a LOT of differences. I’m happy to take you through some of them.<h2>All Suppliers vs. Preferred Suppliers</h2>Freight forwarders may have contracts with certain carriers, which can result in the fact that they will favor these carriers. They have a direct commercial interest in which carrier you choose.If you use the Cogoport platform you can book shipments with all carriers on the platform. Cogoport has no contracts that would cause us to promote a certain carrier. We present you with all the options and the choice is yours. We empower customers to make their own free choice.<h2>Specified Rates vs. All-in Rates</h2>Freight forwarders often give you all-in rates. You get a price for your shipment without really knowing what you are paying for.If you use the Cogoport platform you get a full and transparent breakdown of all the cost involved in your shipment. All charges to you are clear and specified. Our promise to you is: no surprises. There are never any additional charges for any reason after the shipment is booked. What you see is what you get.<h2>Full price comparison vs. Ocean freight price comparison</h2>Freight forwarders often let shippers choose between different ocean freight rates. The total landed cost of each shipment, however, can be very different.If you use the Cogoport platform you not only get the ocean freight rate but also complete insight into all other related costs, whether they are at the port of origin or the port of destination. That way you can base your decision on the total landed cost. Not only port-to-port but door-to-door if you want.<h2>Pro-active vs. Reactive Notifications</h2>Booking a shipment at a freight forwarder usually involves many phone calls and emails. The same goes for tracking your shipment.If you use the Cogoport platform you get full visibility for all your shipments. For each shipment, there is a clear overview of all the milestones and it’s easy to find a detailed track and trace information if you need it. You will also get an instant notification if there is an issue with one of your shipments. You can have peace of mind and use your time to focus on other matters. As long as you don’t hear from us everything is fine.<h2>The 4 main differences between digital freight marketplace Cogoport and a freight forwarder</h2><ol><li>An unbiased overview of all available carriers</li><li>Specified rates. What you see is what you get.</li><li>Choosing a carrier based on total landed cost.</li><li>Peace of mind. Pro-active notifications if a shipment needs your attention</li></ol>

Difference Between Freight Forwarder and Cogoport

Speculation over the Brexit effects grows as the saga is nowhere near finding a conclusion. People all across the globe anxiously wait for the terms of separation of the United Kingdom from the European Union to see how it affects their businesses.&nbsp;In 2016, the people of the UK voted to leave the EU in a move to set their own trading rules and control a range of issues such as the movement of labour, agricultural policy and tariffs. Three years on the terms of the divorce are still being debated and the implications for the shipping industry remain unclear.We’ll try to help by summarising a few possibilities - but don’t blame us if we get it wrong as things seem to change daily!Crucially the separation process was intended to have two parts. The initial exit - or Brexit - was the stage when formally the UK left the EU. Subsequently, the EU and the UK need to agree to the terms of their future relationship.However, agreeing terms of the exit still hasn't happened and it looks as if the UK is heading towards a ‘hard Brexit’ on 31 October with a mass of uncertainty and disruption.WTO tariff rules apply to trade between the UK and EU.Before the split, as part of the same customs union, no tariffs were applied to intra EU trade. However, the divorce can lead to both European Union countries and the UK trading under WTO rules which come with tariffs and regulations. If no alternative to applying WTO trade rules is found, businesses and consumers in the UK will likely face price increases and find exports to the rest of Europe become unattractive.New border, new rulesThe situation of the customs regulations after the split is still uncertain. Before, custom checks only applied on goods entering the EU; once inside, they crossed borders mostly without additional checks or paperwork. However, clarity has yet to be provided about the procedures for goods moving in and out of the UK.Doubts have also risen on whether trucks from the UK will continue to move freely in Europe or would they require fresh permits. More importantly, there is also no clarity as to whether the UK will still apply EU standards and regulations covering goods or would the newly separated country develop its own. The impact of UK-only rules would mean that goods produced for that market might be barred from sale in the EU.Another place where a problem of customs checks could be encountered is the border between Northern Ireland and the Republic of Ireland. Currently, goods move freely within the island of Ireland but Brexit could mean the return of a border with customs checks between the Republic and Northern Ireland which is part of Great Britain.&nbsp;There are significant political and historical implications to the reimposition of a hard land border and this has proved to be one of the biggest sticking points in the negotiations between the UK and the EU.&nbsp;Whatever the outcome in Ireland, border checks elsewhere between the UK and the rest of the EU may result in considerable delays. Presently, according to to the London School of Economics, it takes roughly two minutes for EU countries to clear their goods at the port of the UK. Fuller checks post-Brexit effects could take much longer and the main ports lack the infrastructure to cope with large backlogs of goods awaiting clearance. Significant delays are possible.Increased transportation and labour costsShipping charges from the UK and EU countries can increase. And so can the costs for the trucking services. Britain may face a shortage of drivers as 10% of their commercial drivers are migrants from the union countries. If a substantial proportion of the labour force is lost there will implications for the cost and availability of freight services. Additionally, UK companies had the luxury of EU maritime cabotage rights while they were a part of the union. This meant that they had the rights for water-based transportation within a territory. The separation can also see these rights been revoked.It is still uncertain whether the UK will separate from the European Union with a deal or without it. Hopes that the separation could be achieved with some agreement over the terms governing customs and regulations (the so-called ‘Soft Brexit)’ are fading fast. A no-deal Brexit where the UK overnight becomes a stand-alone country without an understanding about its relationship with the largest trading bloc on Earth is likely to be chaotic.Check out Cogoport’s <a href="https://www.cogoport.com/blogs" target="_blank" style="color: rgb(0, 0, 0); background-color: transparent;">blog</a> to get more on the latest update of Brexit now!* The information contained in this article is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Unseen Effects of Brexit on the Shipping Industry

After rolling out GST last year, Government of India introduced the&nbsp;e-way bill system&nbsp;in February 2018. While the initial endeavour to roll out the new tax collection method was not successful, it fared much better in the second attempt made in&nbsp;<a href="https://www.cogoport.com/blogs/eway-bill-amendment">April 2018</a>. By end of May 2018, the GST e-way bill system had been successfully implemented for inter-state movement of goods in 21 states and six Union Territories. After effective execution of the new process in interstate goods movement, starting June 2018, GST e-way bill rule has been implemented for intra-state movement of goods throughout the country. Why is the GST e-way bill so important? The e-way bill system is a part of the GST regime. This system has been created with the aim to systematize logistical movement of goods in the country, improve and increase tax collection, and in turn control tax evasion.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 2.png" width="auto" style="width: auto; height: auto;"></a>What is an e-way bill? The GST e-way bill is an electronic document that is required to be carried by the transporter when transporting goods worth more than INR 50,000 via a single bill/delivery challan/invoice. What are the other benefits of the e-way bill system?Apart from making the country’s tax structure efficient, it is also believed that GST e-way bill system will provide the following benefits to the trade:<ul><li>GST e-way bill generation system is digitized and easy-to-use. This means that traders (taxpayers)/transporters will no longer need to go to check posts to generate an e-way bill.</li><li>Waiting time at check posts is expected to reduce with the introduction of e-way bill. This will help reduce not only transit time but also better manage road congestion and improve turn-time of vehicles. Reduced transit time will also positively impact transportation costs.</li><li>GST e-way bill system has simplified documentation pertaining to movement of goods. Unlike earlier, where each state had different documentation demands, now the documentation required for movement of goods has been made uniform. </li><li>Along with digitization of e-way bill generation, even the transport vehicles have been equipped with RFID devices to facilitate easy check of e-way bills. This has reduced the burden on the transporter to carry the physical copies of the e-way bills. </li><li>GST e-way bill system has made it easy to verify and check transactions for tax purposes for both the taxpayers and the tax administration. </li></ul>When should an e-way bill be generated or issued? An e-way bill is required to be generated or issued when a consignment worth INR 50,000 is going to be transported via a single delivery challan/invoice/bill. This value can be the total of all goods transported in the vehicle or of the invoice of each shipment being transported in a vehicle.&nbsp;Such movement of goods can be due to reasons of supply of goods, return of goods, or purchase (inward supply) of goods.A GST e-way bill also needs to be compulsorily generated in the following scenarios:<ul><li>Movement of goods, even if the goods being transported are less than INR 50,000, for inter-state transfer by the Principal to a job-worker or registered job worker. </li><li>Inter-State transport of handicraft material by a trader who is exempted from GST registration. </li></ul>Are any goods exempt under the e-way bill generation rule?The movement of the following goods does not require an e-way bill:<ul><li>Perishable goods – fruits, vegetables, meat, milk and milk products </li><li>Silver and gold jewellery </li><li>Raw silk </li><li>Handlooms </li><li>Wool </li><li>Cooking gas cylinders </li></ul>Who is required to generate an e-way bill?A registered person (trader, seller, buyer, consignor, consignee, transporter) is required to generate an e-way bill. An unregistered person also has to register on the e-way bill generation portal. However, an unregistered user is exempt from generating an e-way bill only if he is supplying goods to a registered person. In such a scenario, the registered person will be responsible for generating an e-way bill.<a href="https://cogoport.com/signup/en-IN/?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" width="auto" style="width: auto; height: auto;"></a>Is an e-way bill required in all movement of goods?No, there are some exceptions where an e-way bill is not required. For example, an e-way bill is not required for:<ul><li>Movement of goods under customs seal or direction </li><li>When movement of goods is via a non-motor vehicle form of transport </li><li>Transportation of goods under customs bond from ICD to port or one custom check point to another </li><li>Transit cargo from Nepal or Bhutan to India </li><li>Empty containers used for transporting cargo </li><li>Shipments/goods transported from customs port, air cargo station/complex, airport, customs check post to ICD or CFS for customs clearance process </li><li>Rail transportation of goods by State Government, Central Government, or any local authorities </li><li>Goods exempt under the GST e-way bill rule by the respective State/Union Territory </li><li>Movement of goods for/due to defence requirements with Ministry of Defence&nbsp;listed either as a receiver or a sender </li><li>Seller, sender, consignor of goods transporting goods to or from his place of business to weighbridge for the purpose of weighing the cargo within a distance of 20kms. A delivery challan should be sent along with this kind of cargo movement. </li><li>Movement of goods listed under annexure to rule 138(14), goods considered as “no supply” according to Schedule III, and specified Schedules of the Central Tax Rate notifications. </li></ul>From where and how to generate an e-way bill?It’s simple! To generate an e-way bill all you need to do is register on the e-Way Bill System&nbsp;portal. Does an e-way bill have a validity period? What is the validity period?Yes, e-way bills have a validity period. It is based on the distance that the goods are transported. The validity period starts from the date and time of generation of an e-way bill.<img src="https://prod-cogoport.s3.ap-south-1.amazonaws.com/db01c10668c07284b931d80701357e66/eway%20bill%20new%20slide.jpg" alt="e-way bill" class="center" width=""> <img>What are the documents required for generating an e-way bill?The following documents are required for generating an e-way bill:<ul><li>For transportation by road the transporter ID or vehicle number is required </li><li>For transportation by rail, air, or sea, the transporter ID, transport document number, and the date of the document is required </li><li>Bill of Supply, challan, or invoice pertaining to the goods being transported </li></ul>For more information on the GST E-way Bill system, processes, and how to generate an E-way Bill visit&nbsp;Goods and Services Tax e-Way Bill System&nbsp;Portal.&nbsp;

E-Way Bill Update: All About GST System

Supply chain has seen
tremendous transformation in the last decade. A lot of this transformation can
be credited to digitization. By introducing advanced technology in
the supply chain cycle at various crucial stages, work has become efficient and
cost effective. Digitization
and The Shipping Industry Supply Chain Sea transport accounts
for 90% of the trade. Shipping is complex in nature. The industry suffered
greatly due to the&nbsp;<a href="https://www.spiegel.de/international/business/that-sinking-feeling-global-crisis-hits-shipping-industry-hard-a-594710.html">global financial
crisis of 2008</a>. It is still playing catch up. The established way of
managing the industry supply chain does not seem to be profitable anymore. Understanding
the need for change and to reinvent itself, the shipping industry has started
to open its doors to digital disruption. It is now working towards creating a
digital supply chain. A global&nbsp;survey titled “Competitive Gain in the Ocean Supply Chain: Innovation That’s Driving
Maritime Operational Transformation”, conducted by Cargotec’s Business
Performance Innovation (BPI) Network and Navis and XVELA, highlights the
industry’s changing attitude towards digital.&nbsp;The respondents - who are in some
capacity or the other related to the shipping industry, pointed out the areas
which need improvement and can benefit from use of better technology. According
to the survey, the five areas that the industry needs to work on are - carrier to terminal coordination, supply
chain visibility and information sharing, terminal operations, cargo flow
visibility and predictability, and coordination across carrier alliances.Some of these issues
are being addressed.For example, earlier,
once shippers had handed over their shipment to the shipping line, tracking its
location was not easy. At most, they could get an update from the shipping line
on the location of their shipment when the ship called at a port. But now,
advanced technology has made it possible for them to get&nbsp;<a href="http://gpsworld.com/shipping-container-tracking-on-verge-of-big-increase/">real-time information</a> through a container GPS
tracking system on the location of their shipment. They can track the shipment
on their own. Process automation is
another area that shipping lines are exploring. Inventory management across
locations and providing freight quotes and shipment booking online are some of
the processes that are going digital. The industry has also
caught the fancy of the global start up world. There are start ups that are
working on managing documentation, offering&nbsp;<a href="https://www.cogoport.com/">freight comparison</a>, integrating different modes of
transport, and aiding customs clearance. While changes are
being implemented, digital adoption is slow and it is not yet uniform across
the industry and does not provide a common platform for all the parties
involved. Will Digitization be Beneficial for the Trade? Mostly, yes. It will
provide a solution for some problems and may not help address some others. There
are&nbsp;<a href="https://www.lloydsloadinglist.com/freight-directory/news/Digitalisation-‘no-panacea’-for-vessel-supply-demand-imbalance/68259.htm#.Wf9l_K2B1mA">doubts</a> that digitization
will not help resolve two of the main pain points of the industry – supply
demand imbalance and optimum vessel utilization. But, other simpler processes
and issues do stand a chance to improve with digitization. According to a&nbsp;report by Accenture, if the
industry can “standardize” its systems and processes, it will be able to create
an online value proposition for its customers. This standardization coupled
with digitization has many benefits for both the customer and the shipping
lines. Some of the main benefits of going digital are: 1. 
Time and Transparency:
A
digitized process has to be standardized, else it does not work.
Standardization helps create transparency in the system. It reduces the scope
for human errors, manipulation of prices and inventory. Digitization will
ensure a speedy completion of tasks. 2. 
Documentation
Management:&nbsp;Documents
are a major part of shipping. Maintaining multiple documents and filing them
takes up both time and space. Taking the process online will help save on both.
In future, it can also help create an integrated documentation platform
that can be accessed by all the parties (exporter, importer, shipping lines,
ports, banks, storage) involved in the transaction. Thus, paving the way to a
paperless system. 3. 
Door – to – Door
Tracking:
New technology is making it possible to track containers on a real time basis.
This will go a long way in helping customers provide updates to their
business partners and plan further logistics. 
4. 
Improved Analytics:&nbsp;Availability of data
from all touch points and tools to analyze that data to help make better
business decisions is one of the main offerings of advanced technology.
Shipping lines can use data collected from various sources to offer better
services, plan new trade routes, and allocate space. 5. 
Better Operational
Integration:&nbsp;Transporting
a shipment from one location to another involves participation of different
modes of transportation and handling at different touch-points. If all of the
services can be integrated, it will help provide a seamless experience to the
shipper and reduce loss arising out of delays and operational inefficiency for
the service providers. It will also help various service providers – ports,
road &amp; rail transporters, storage, and shipping lines to plan better and
ensure maximum utilization of their space and equipment. 








Going digital can
help the shipping industry become efficient and reduce cost for certain
processes. But, the benefits from these changes can be reaped if the industry
as a whole adopts new technology.

The Digital Supply Chain: Benefits for Shipping

All India Motor Transport Congress (AIMTC) has called a nationwide truckers strike starting July 20, in an effort to get the government to act on their demands. The strike is supported by more than 93 lakh truckers and around 50 lakh buses, tourist taxi and cab operators that are a part of the association. Other transport federations have also rendered their support to AIMTC. The demands put forth by transporters include a proposal to lower central and state taxes on fuel by including it under GST regime, which would help reduce its price. The transport union is also demanding a reduction in highway tolls and third party insurance premium, exemption in and a toll barrier-free country. The truckers are also pressing the government to end indirect taxes and direct port delivery system, provide exemptions and national permits for all trucks and buses. According to the latest update, all-India loss due to the strike has been estimated at a whopping INR 10,000 crore. While the truckers’ association is adamant about getting their demands met before resuming services, exporters are complaining of loss of orders and business. The strike has already affected cargo movement and if continues it may lead to further delay in transit. As on date, there is no clarity on when the strike will end. Traders are thus advised take the current scenario in consideration and accordingly plan the transit of their shipments.

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