Supply Chain weekly wrap-up: 8/10/18 – 8/16/18

The quickest quotes in the shipping industry

Shipping has always been an important and competitive sector of the transportation industry, due to its large-scale efficiency and comparatively low costs. However, the process of securing a quote can prove to be costly and time consuming for companies, as there is a real lack of pricing information that is made available to them.

In order to combat this inefficiency, German shipping company Hapag Lloyd has recently launched Quick Quotes, an online tool which is claimed to provide a quote in a matter of seconds. To get an instant binding quote, all the customer has to do is register or log in online, submit a query and then confirm via email. Many of their competitors –such as Maersk, CMA and COSCO- also have online services, but there is not always a guarantee that customers will receive confirmation or a quote without further communication. In the case of COSCO, customers receive a similar service, except the process can take days before a quote is confirmed.

For more information on this initiative, click here.

XYO joins the BiTA club

The Blockchain Transport Alliance (BiTA) has grown rapidly since 2017 into what is now the largest blockchain alliance in the world, with around 450 members and an annual revenue of over $1 trillion. The BiTA community works to develop, standardize and advocate blockchain technology within the freight and transportation industries.

It’s most recent member, the XYO Network, hopes to contribute by utilizing its accurate crypto-location data from its intricate ecosystem. The geospatial ecosystem involves a number of tracking devices, IoT devices and mobile phones across the globe, which can be used to track an object or device’s specific coordinates anywhere in the world, at any given time. BiTA president Chris Burruss explained that the data collected from XYO technology will be used to execute smart contracts, ultimately assisting in risk prevention and cost minimization for carriers and shipping companies. Furthermore, the company aimed to eliminate the need for centralized third-party verification of smart contracts, protecting transactions from the potential threat of hackers.

To find out more about the Blockchain Alliance and technology, click here.

The world’s first ever autonomous electric container vessel.

A deal has been made between Norwegian fertilizer shipper Yara and Vard shipyard, in Brevik, to build the world’s first both autonomous and electric vessel. If all goes according to plan, the ship should be ready for launch in 2020, however it is not expected to be in operation until 2022. Plans to develop the vessel were originally announced in May last year, as part of Yara’s plans to reduce its substantial trucking operations and overall carbon footprint. Moving its operations from the road to the sea will in turn reduce noise and dust pollution, improving local road conditions. Technology company Kongsberg has also been a close partner in overseeing the vessel’s development.

So far, the project has received the equivalent of 15.6m USD in financial support from Norwegian government’s ENOVA enterprise, as well a public show of support from the Norwegian Prime Minister, as it is expected to have a hugely positive impact on the area. The vessel represents a great advancement not only for autonomous technology but for a brighter, more sustainable maritime industry.

For further details on this, click here.

Have a great weekend!