The efficiency of global ocean logistics is affecting your life more than you would imagine. It has an impact on the global economy and just by improving the way how maritime logistics stakeholders operate an incredible economic opportunity could be exploited.
According to McKinsey&Company, the inefficient business processes of ports, terminals, and carriers are creating 17 billion US dollars waste. This could be improved by investing in technology. Nevertheless, adapting to new technology requires new strategic initiatives and change management readiness.
Some of the biggest challenges of the ocean shipping industry are related to the lack of connectivity, transparency, and visibility, as well as the lack of communication and coordination between the supply chain parties due to inefficient data sharing.
You guessed it right, these are all challenges that technology could fix.
If you would like to learn more about these challenges, we suggest that you read the report of BPI Network and Navis. Their research provides you with excellent insights into the topic. Also, you may want to read some of our previous articles around the digitalization of the ocean shipping industry, how integrations can impact the industry.
As you are reading this article, you may work for an organization in the maritime shipping industry that is looking to improve its digitalization strategy or some of the business processes. To help your work, we have gathered a list of the most innovative companies that support you to become better at digitalization by exploiting the technologies they have developed specifically for helping ocean logistics and supply chain stakeholders.
Some of the vendors provide analytics tools, others tools to eliminating the empty container challenge, while others help to create connectivity between stakeholders.
The list is subjective. In case you feel like we have missed someone from the list, send us a message, and we will consider updating this list.
XVELA is the first cloud collaboration platform for terminal operators and ocean carriers. Using the platform provides operational efficiency, improved resource allocation, and utilization, monitoring to help users to make adjustments in their processes.
The goal of XVELA is to connect terminal operators and ocean carriers on a shared, open collaboration platform for visibility, real-time communication and performance analytics. This could ultimately transform the container supply chain. The platform includes solutions for stowage collaboration, Berth Window Management, Port Call Optimization to improve overall service quality.
Kontainers offers a cutting-edge ocean freight platform to accelerate your digital transformation and provide several options for the implementation plan that can be highly customized.
Kontainers has solutions for global schedules, instant rates, trucking, next-generation bill of lading, support services, dashboard analytics, back office application, payment system, customs, booking, full container load, or less than container load.
Kontainers offers two pricing options Edge and Enterprise. To discover more, visit their product page.
In the end, by using Kontainers, you should be able to save up to 50% on operations touch points, 33% on sales effort, which means $28 000 in terms of costs.
The best way to learn about Kontainers is to go to their website and book a demo.
Flexport is ‘The freight forwarder for modern logistics teams’ they help moving freight by all transportation modes: air, ocean, rail, and truck. Flexport also ensures that you receive transparent rates on your shipment.
Flexport offers software for the following:
- Real-time tracking
- Transparent pricing
- Shared workspace
With Flexport, you can manage everything within a single platform: book shipments and message suppliers, reconcile invoices or analyze reports. The platform doesn’t only improve collaboration across teams but enables them to make data-driven decisions for improved optimization.
Haven is a tool for digital transformation for logistics teams to enable the automation of the supply chain. The collaboration platform helps to streamline documents, data, and conversations around the shipments. It provides real-time reports and analytics on the business-critical data regarding your supply chain, instead of using traditional methods of receiving information. This helps you to monitor your supply chain and make quick decisions on optimization as needed. Besides the analytics tool, you will be able to track & trace shipments, create compliance audit logging, invoice auditing, BL auditing, and explore shipping rates.
For improved collaboration, Haven provides tools such as message and document center, team workflows, rate explorer, team management, team, and partner user accounts.
Fleet is a digital freight forwarder simplifying global trade with its digital freight forwarding platform that allows importers and exporters to book and manage their international shipments 100% online. Fleet offers services for ocean freight, air freight, trucking, warehousing, insurance, customs, and LTL freight. Fleet promises to secure your booking in less than 60 seconds, get instant access to multiple quotes, track shipment status in real-time within its online dashboard. Using fleet will provide you with supply chain visibility that can help to improve your logistics, sales and customer service.
Xeneta provides a platform for transparency in the ocean shipping industry. The platform offers business intelligence, market rates, and metrics. Xeneta is a leading provider of ocean freight price benchmarking and market intelligence platform transforming the logistics industry.
Xeneta has a turnkey analytics platform for shippers and freight forwarders can have the data they need to determine shipping prices better. Now, Xeneta reports on over 65 million contracted rates covering over 160 000 global trade routes, enabling optimization of logistic processes based on better decisions.
Xeneta offers several products:
Xeneta Discover provides insights into the ocean freight spot market rates. For example, if you need to receive a quote for a container, you can do it instantly through Xeneta Discover while you’ll also be able to see rate fluctuations.
When you have long-term contracts, Xeneta Intelligence is the right tool for you to analyze and benchmark container rates (for 20’, 40’ and 40’ HC containers and 20’ and 40’ reefer containers). You will be able to compare your current prices and look for better deals.
The Xeneta Analytics tool helps to visualize your data to optimize better what you spend on ocean freight.
Xeneta Shipping Index (XSI™)
The Xeneta global ocean freight index allows shippers to review their rates regularly and negotiate better deals.
You can engage with Xeneta experts to help you define your strategic and tactical initiatives.
New York Shipping Exchange (NYSHEX), is the innovator of the first digital forward freight contract for the global container shipping industry. NYSHEX has adopted the Youredi Integration Platform as a Service (iPaaS) to connect with ocean carriers, such as Maersk Line, CMA CGM, Hapag Lloyd, OOCL, Hyundai Merchant Marine, and Cosco Shipping. The offers of these shipping lines are presented on the NYSHEX platform for customers purchasing container transportation services on the NYSHEX platform. NYSHEX is an alternative to the unpredictable spot market and volatility of freight rates by giving carriers the ability to offer “all-in” contracts.
While the other vendors on this list have a specific product or products that are tailored around the challenges of the maritime shipping industry, Youredi provides the engine for the maritime stakeholders for their digitalization.
Youredi’s product is an integration platform as a service (iPaaS) that enables our integration experts to develop integration solutions in the fraction of the typical time of building and deploying integrations. Youredi provides a fully managed service to connect systems and applications, enable real-time data sharing, Youredi offers hybrid integrations for ease the connectivity barrier between legacy systems and cloud-based applications. Additionally, a modern integration platform can help to modernize EDI processes.
If you want to know more about how technology enables the digitalization of the ocean shipping industry, get your copy of our whitepaper: