The consignee plays an important role in any shipping business or exporter. Here’s how you can build the trust of international consignees to ensure a continued and uninterrupted loyal service throughout the whole process of delivery of goods.<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 3.png" width="auto" style="width: auto; height: auto;"></a>Delivery of any shipment includes several participants. When a shipping consignment order is placed, the delivery is undertaken between a consignor and consignee via a delivery service.&nbsp;Here, the consignee is the entity who is financially responsible for the shipment delivery. In certain cases, the receiver of the goods may or may not be the same person. The individual may or may not also be considered as the owner of the goods delivered. At times, the consignee may also function as an agent that received goods from the consignor.&nbsp;However, no matter the role, the ownership of the goods is transferred only when the consignee has paid for goods delivered. If the goods are not sold, he or she will be held responsible for the inventory holding costs. At the same time, the consignee may also have to face the challenges of managing inventory related to the consignment, especially if multiple goods are assigned.&nbsp;The consignee plays an important role within the shipment delivery process. A consignor, or any other participant interacting with the consignee, would want to ensure that the relationship between them and the consignee is built on complete trust.&nbsp;<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>Here are some of the key factors you need to communicate if you want to build a relationship of trust between your consignee:Settle on the responsibility of Incoterms: Incoterms are a set of terms and conditions, which define the responsibility of the delivery of goods. Shippers normally use Incoterms as a means to spell out who’s responsible for the shipping, insurance and tariffs and other charges on an item. As a consignor communicating with a consignee in terms of delivery of goods, incoterms greatly reduce misunderstandings and minimise trade disputes and litigations, and thus goes a&nbsp;long way to provide excellent customer service between the two parties.&nbsp;Protection of goods through insurance: As a consignor, you will want to protect your goods. You would also not want your consignee to be caught off guard, in the event they have to pay for damaged goods, especially not owned by them. The best solution, in this case, is to inform your consignee to maintain a certain insurance coverage when the imported goods are under their responsibility. In doing so, your consignee will be well protected financially in the event that the goods are damaged during shipment.Duty of storage: Until the goods are delivered and sold, the responsibility of the storage lays in the hands of the consignee. Any damage to the goods in this duration will result in loss of funds for the consignor and consignee. In this case, you can convince your consignee to agree to a certain duty of storage care, ensuring the goods are handled and stored properly, thus protecting both parties financial interests.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-1.png" alt="" width="300px">Buy out and stock rotation: It is the responsibility of the consignee to sell off the goods. Any delay in goods sold would result in a financial loss for the consignor, and loss of commission or even profit for the consignee. To protect the interest of both parties, it is best to set a time limit on the amount of time the consignee needs to sell its goods. If the time limit is not met, the consignee can either return the goods or purchase the goods for themselves, thus minimising financial loss.In any business, both local or even international, building a steady relationship between a consignor and a consignee is crucial for the growth and development of a business. The above-mentioned factors will go a long way to ensure that your business not only grows but also builds a better future. Sign up with Cogoport today to get the best service now!

How to Build a Relationship with Your Consignee

How to Build Trust and Strong Relationships with Your Consignee

Something interesting happened this afternoon. At 11:30am I got an e-mail from the school my kids go to saying: Good morning. Earlier this morning there was a power outage and now we are closing the school. Please pick up your children at 12:00 noon. 30 minutes notice!Sometimes I wish there was a Cogoschool platform. By that I mean a platform that manages school logistics, much like Cogoport manages freight. One that informs you timely of changes, and potentially suggests alternative solutions for issues. One that informs other parties involved and gives you the means to deal with the changes.<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 3.png" width="auto" style="width: auto; height: auto;" alt="whatsapp chat"></a>Instead of solving logistics challenges for customers I’m apparently (or a parent-ly) solving logistics issues for a school...Anyway. My highlights from freight and other news this week:<h3>Oil Price</h3>Surcharges have been in almost every Ocean Freight Update I have done these past weeks. As fuel is often an important component of the surcharges:“As the volatility in oil prices continue, there have been different opinions on its future with some predicting a three digit rate in a few years while a few hopeful of a downturn. Banking major Barclays has a rather interesting take on the situation, reasoning out that the prices would fall to around $70 per barrel next year rather climb higher.”→ <a href="https://www.freightwaves.com/news/todays-pickup-panama-city-braces-for-hurricane-michael-6mreh" target="_blank">Barclays predicts oil price to reach $70 next year</a><h3>Pirates of the Caribbean, no, Asia</h3>A total of 64 incidents of piracy and armed robbery against ships were reported in Asia during January-September 2018, a 3 percent increase compared to the same period for 2017, ReCAAP ISC said in its latest report.→ <a href="https://www.marinelink.com/news/piracy-rises-asia-442554" target="_blank">Piracy Rises 3% in Asia</a><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-1.png" width="auto" style="width: auto; height: auto;" alt="Cogoport sign up "></a><h3>The Urge to Merge</h3>There’s always talk about alliances, mergers, and takeovers. Between shipping companies, but also between logistics providers. Now there may be another combination of the two:“CEVA had rebuffed a full takeover bid from DSV, while at the same time giving CMA CGM the option to increase its stake to one-third of its shares.”“An accompanying statement from CMA CGM suggested it may well take up this option, and a fully fledged takeover of CEVA could also happen”“CEVA could be dismantled by CMA CGM, or its own management team, in the same way that Damco is by AP Møller-Maersk Group; if so, then, the freight forwarding assets – mainly contracts and staff – could be spun-off and presented to possible suitors.”→ Market Insight: CEVA and CMA CGM – vertical consolidation the next step?<h3>More on Capacity and Carrier Rates</h3>“The decision by Asia-North Europe carriers to blank or suspend 11 head-haul voyages this month appears to have halted the slide in spot rates on the route, the SCFI component virtually unchanged at $731 per TEU.However, if the 2M Alliance reactivates its AE2/Swan loop earlier than planned – on 5 December as suggested by Alphaliner – then spot rates could fall away quickly.”→ Early AE2/Swan return would add to the pressure on Asia-Europe carriers“If there’s a serious drop of Chinese exports into the US, it will push China to find additional markets. There will be winners and losers but a re-balancing within Asia could be positive overall as more consumer markets develop.”“Any big uptick in intra-Asia container volumes is likely to exacerbate port congestion across the region, however.”→ China-US trade war could be the founder of a feast for intra-Asia box traffic<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><h3>Freight Tech</h3>“MSC has announced it will fit some 50,000 of its dry containers with smart technology over the next few months.”“The carrier said the technology would be provided by Traxens, the French container tracking start-up that has received investment from CMA CGM and more latterly MSC. Both carriers have a seat on the Traxens board.”“The Traxens system has three key elements: first, a tracking and environment-monitoring device permanently fitted to the box, which records data such as GPS position, temperature, impacts, movement, and vibration.”→ MSC opts for Traxens technology to create 50,000 'smart' containers“Rolls-Royce is partnering with Intel to conquer the immense amount of data required to make autonomous container ships a reality”“The data required to facilitate autonomous ships is greater in size and complexity than that necessary for autonomous road vehicles because of the increased variability of the environment.”→ <a href="https://www.supplychaindive.com/news/rolls-royce-intel-autonomous-ships-sensors/539683/" target="_blank">Rolls-Royce teams up with Intel on autonomous ships</a>“Energy innovation in shipping is not confined to main propulsion systems. Norsepower has installed its Flettner Rotor Sail Solution on three ships of different types – one Ro-Ro (roll-on, roll-off), one cruise liner and one tanker – and is documenting the resultant fuel savings.”→ <a href="https://about.bnef.com/blog/planes-trains-automobiles-electric-remake/" target="_blank">Planes, Trains and Automobiles – the Electric Remake</a><h3>Saving the Best for Last</h3>Great news last week: we were recognized as one of the 100 most innovative and disruptive companies in freight! A proud moment for all of us.At the end of last week, our founder Purnendu Shekhar wrote a post about in which he looked back, but also looked forward.“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.”→ <a href="https://www.cogoport.com/en-IN/blogs/cogoport-recognized-freight-tech-100" target="_blank">Cogoport Recognized in the Freight.Tech 100</a>We were also mentioned in the announcement by Freightwaves:“From on-demand trucking to blockchain, loadboards and freight matching, the list of companies bringing innovative technologies to the freight industry is growing by the day, which makes the 100 that have made the cut to be honored by the FreightWaves Research Institute as part of its inaugural Freight.Tech 100 all the more special.Cogoport is an example. The company believes that booking ocean freight should be as easy as booking a hotel room. Its platform provides instant quotes, helps choose the right ocean carrier, allows for the uploading of documents and manages all shipments”→ <a href="https://www.freightwaves.com/news/trucking/innovation-key-to-making-the-freight-tech-100" target="_blank">From upstarts to traditional powers, the Freight.Tech 100 represents all that is innovative about freight</a>Photo by Tim Easley on Unsplash

Oil Prices, Merger, Rates, and Freight Tech

Freight Industry Top 100: Prices, Mergers, and Rate Trends

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

Digitization in Supply Chain: Benefits, Challenges & Implementation

The B2B marketplace is perceived&nbsp;tech-&nbsp;phobic&nbsp;which means&nbsp;anything&nbsp;that&nbsp;smells&nbsp;automated to&nbsp;the user&nbsp;cannot be&nbsp;simple.&nbsp;The&nbsp;fight is on, to&nbsp;prove&nbsp;that it is&nbsp;but&nbsp;very&nbsp;simple. It&nbsp;just needs&nbsp;to be&nbsp;addressed, that’s&nbsp;all. Technology need&nbsp;not be feared, it does add only value.&nbsp;The buyer will save time and money and&nbsp;the seller will save on customer acquisition cost, where if a shipper wants rates and clearance, technology will give it all - value, in every service that is provided.&nbsp;How this new striker with a tech-enabled model can herald a movement is to make a statement and deliver a complete package in terms of the price discovery that can assure clarity, compliance to rules, speed, transparency, profitability and instantaneousness.&nbsp;A lot could be replaced by adding value through technology.Tech can be predictive, Tech can analyse.&nbsp;Said and done, pure tech play cannot change human nature. Herein lies the trick.&nbsp;Technology will need Humans.Solution: the tech driven model brings in the now-needed human touch.&nbsp;A hybrid platform which is not merely a portal, which can be an assisted process to transact the deal.&nbsp;Why hybrid?&nbsp;Because a full-fledged technologically sound platform may not quite be what the buyer may want to adopt immediately. Show the buyer a face, a voice that is capable of being the guide and give some comfort with the initial handholding- that is what technology will do...take it whole lot further.The idea is brilliant, so why wait till the concept gets tested?<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>Watch this space for more…. Next: “The Limit(lessness) of Technology”&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Technology - The need for a human face to it

Technology and Human Need: Balancing Innovation in Logistics

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

Freight Forwarder vs Cogoport: Key Differences & Advantages for Shippers

The shipping industry is undergoing a technology revolution. This age-old industry which, till the last decade, was hesitant to harness new technology, has now taken up all-round modernization with a vengeance.Today, globally, the industry as a whole is exploring and implementing new technology in all spheres of the trade. Ports, ships, systems and processes, and allied services are all getting a technological facelift. The industry’s efforts to digitize are also being aided by startups that are creating tech solutions specially for it. Technologies like Robotics, AI, machine learning, internet of things, blockchain, drones, and augmented reality are being harnessed to create a safer, efficient, and more productive environment to carry out export and import trade.While there are many changes that are happening in the world of shipping – and all are important, here are some that have captured our interest:Robotic Technology: Robots have infiltrated almost every industry in some way or the other. Now, they have turned their tech-eye on the shipping industry. Research institutes and companies in the automobile, transport, tech sector are collaborating to build robots that can aid in ship management, safety, servicing, and inspection.Among these, SAFFiR – Shipboard Autonomous Firefighting Robot, being developed by the US Navy Research Lab in collaboration with Virginia Tech, has caught our interest. And, for a good reason too.&nbsp;Fires on ships can cause huge damage to human life, environment, and the cargo on board. For example in the recent&nbsp;<a href="https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/fire-on-container-ship-under-control-no-word-on-missing-crew/articleshow/63237662.cms">fire</a> on Maersk Honam, four crew members have been reported missing and insurers are&nbsp;estimating a loss of millions of dollars in claims from the vessel carrying more than 15,000 TEUs.While accidents on sea cannot be completely avoided, loss of human lives and cargo can be, to a certain extent, mitigated by fire fighting robots that are designed to take charge in such situations. SAFFiR which is currently being built for US Naval Ships would be a great addition to cargo and passenger ships as well.<iframe width=" 480" height="270" src="https://www.youtube.com/embed/K4OtS534oYU?feature=oembed" frameborder="0" allowfullscreen="allowfullscreen" style="letter-spacing: 0.01rem;"></iframe>&nbsp;Hyperloop Transport System:&nbsp;Hyperloop, an idea conceptualized by Elon Musk, is a transport system that is designed to carry people or cargo from one destination to another via a tube at a speed more than 700 mph. Along with the rest of the world, this technology has also caught the attention of Prime Minister Narendra Modi and the Chief Minister of Maharashtra Devendra Fadnavis. In February 2018, they&nbsp;signed an agreement with Sir Richard Branson, founder of the Virgin Group and the chairman of Virgin Hyperloop One, to develop a hyperloop route between central Pune, New Pune International Airport, JNPT Port and Pune’s economic and industrial zones. The Hyperloop One will help facilitate quick transportation of palletized cargo and lightweight cargo between the port and industrial zones in Pune. According to&nbsp;<a href="http://indianexpress.com/article/technology/tech-news-technology/mumbai-pune-virgin-hyperloop-one-project-everything-you-need-to-know-5069402/">reports</a>, the proposed hyperloop will provide benefits like reducing accidents, socio economic, savings in time and operational cost worth USD 55 billion over a time period of 30 years. It will also help reduce greenhouse gas emission by approximately 86,000 tons/year, and lessen the traffic load on the connecting expressway. In addition to all these benefits, as Virgin Hyperloop One said on the occasion of the launch, the hyperloop will cut down lead times and help build a leaner and more efficient supply chain.<iframe width=" 480" height="270" src="https://www.youtube.com/embed/OBuVkQIy7eU?feature=oembed" frameborder="0" allowfullscreen="allowfullscreen" style="letter-spacing: 0.01rem;"></iframe>&nbsp;Smart Ships: We have smart gadgets, smart homes, and smart cities, then why should ships be left behind?&nbsp;Ships are set to become smart, tech-savvy, and autonomous soon. In fact, the first smart vessel Yara Birkeland&nbsp;is planned to be launched this year. It is predicted to become fully autonomous by 2020.Automated ships will add a technological edge to the shipping industry by improving efficiency, productivity, and carrying capacity. Since these ships will be remotely managed, the fear of loss of lives of crew members at sea will be eliminated and in a way it will also change the profession.<iframe width=" 480" height="270" src="https://www.youtube.com/embed/5VBD7hVRhx0?feature=oembed" frameborder="0" allowfullscreen="allowfullscreen" style="letter-spacing: 0.01rem;"></iframe>&nbsp;Blockchain Technology: The blockchain technology is now no longer limited to bitcoins. It is being explored by various industries to manage, transfer, and store data in a safe and secure manner. Shipping is also among the industries exploring technology to add efficiency to processes and integrate the supply chain from start to end. The system based on blockchain technology will make it easy to transfer data and track cargo in real-time till it reaches the final destination.Augmented Reality: AR is another technology that can add immense value to the shipping industry. It can optimize cargo planning, aid maintenance and inspection, navigation, connect global teams, and also help in creating awareness about the industry which is not easily accessible to people not connected to it. For example, very rarely does a person not in the industry get to visit a container ship or for that matter the port. AR can make it possible to provide outsiders with a view of the industry. Port360, a virtual tour of the Port of Rotterdam, is one such example of this technology being used for connecting with businesses and also educating people not connected to the world of shipping about the port and how it operates.<img src="https://prod-cogoport.s3.ap-south-1.amazonaws.com/0faa2f99f63fb9e86c4735679a43cb79/BotlekPernis_2.jpg" alt="Port of Rotterdam" class="center" width="" style="letter-spacing: 0.01rem;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Image source: Port of Rotterdam.&nbsp;Click&nbsp;here to take the tourThese innovations are just the tip of the iceberg. Shipping is changing and the speed at which technology solutions are being created for the industry, it would not be wrong to term this period as a rebirth of one of the world’s oldest industries. And, we’re proud to be a part of the technology revolution that is transforming the shipping industry.

Shipping Tech Revolution: 5 Technologies

Technologies Transforming the Shipping Industry: Innovations & Future Trends

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

Brexit Effects on Shipping Industry: Challenges, Opportunities & Adaptation

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

Everything You Need to Know About Eway Bill: Rules, Process & Compliance

As one of the fastest growing startups in digital freight, we are always looking for bright people. One of our recent hires is Saurabh, who joined the Cogoport team to help out the business development team. He wrote a blog post about working at Cogoport.<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 1.png" width="auto" style="width: auto; height: auto;"></a>And now over to Saurabh:Life at CogoportI have been a Cogoport intern for the past couple of weeks now, and so far, it is unlike any of my other internships or professional experiences. The learning curve is huge, but the opportunities for learning and growth are endless. I remember applying for internships and Cogoport stood out to me because it was a startup that had come up with its own unique idea and was trying to break the status quo in the enormous logistics industry. Also, I have always dreamed of having my own business and could not think of a better place to learn from. At Cogoport I am a business development intern and am tasked with bringing in new clients as my primary responsibility. My development and progress are overseen by Varun Mahendru, the Regional Business Head at Cogoport.All Together NowCogoport has a defined hierarchy, yet it does not show. The heads of various departments, employees, and interns all sit together in the office. If a stranger was to walk in then they may not be able to tell us apart. It helps promote the culture of learning and taking on responsibility. The heads lead by example, and everyone in the office has always taken initiative and followed suit.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" alt="" width="300px">New Skills for New BusinessI had always heard that start-ups are a lot more hands-on, and I’m excited to be able to experience it first-hand now. This really came to light when in my second week as an intern Drupad Goswami, who is Head of Sales at Cogoport, called in the evening informing me that we would be going to Morbi (an industrial town) to conduct a drive that would get more clients on board.Diving in at the Deep EndSo far, I had spent one day calling clients, and one day meeting them. Now, I was being thrown into the deep end and had to attract clients who could bring a lot of business to Cogoport. As I said, the opportunities to learn and grow were immense.With coaching from Drupad and Varun I had my pitch locked down after the first couple of meetings in Morbi. After conducting over 40 meetings over the course of two days, I’d managed to get 12 new clients on board. My numbers were pale in comparison to the more experienced members of the Cogoport team in Morbi, but for someone who had been a part of the company AND industry for slightly more than a week… I was proud of the result.We Have Lift-off!After returning to Ahmedabad I was feeling much more confident when reaching out to potential new clients. There was no more nervousness. I was sure in my knowledge of the platform and industry.Cogoport was able to help me in accomplishing all this in a matter of two weeks. I’m eagerly waiting to see what I can learn and (hopefully) accomplish over the next two and a half months!

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