CargoSmart working with Oracle to develop blockchain solution
Global shipment management software solutions provider CargoSmart, working with Oracle, has launched an initiative to develop a blockchain solution for shipment documentation to improve complex supply chain processes that it claims can cut down document processing time by 65%.
Port of Felixstowe problems remain, improvements seen from terminal operating system upgrade
The Port of Felixstowe says the performance of its troubled new terminal operating system is continuing to stabilise, however, productivity levels remain similar to a week earlier.
Toll opens $167m logistics hub in Singapore
The new Toll City facility spanning over 1m sq ft was officially opened on Wednesday and is located less than 3km from the 65m teu Tuas megaport currently under construction in the far west of Singapore. It also has good road links to Malaysia and
The facility is designed to serve the local and regional markets for sectors such as retail, fast moving consumer goods (FCMG), and healthcare. It is designed to accomodate new technologies such as driverless trucks and 3D printing.
“Toll City in Singapore is a new growth chapter for Toll in Asia. Toll’s focus on technology developments will revolutionize the way people work, as we create resilient supply chain solutions that deliver smarter, faster and better outcomes for our clients,” said Vincent Phang, executive vice president of Toll Global Logistics Singapore.
“With the SiTadeL Control Tower in Toll City, we have been addressing Singapore’s urban logistics challenges with real-time visibility and monitoring of our moving assets. As a result, we offer an integrated supply chain management process that’s prepared for surge periods, and potential supply chain disruptions caused by human or natural disasters.”
US - China trade war fallout sees 6.7% container capacity cut on transpacific
With the ratcheting of the trade war between the US and China the fallout is being seen on the transpacific container trade with a 6.7% cut in capacity.
The Ocean Alliance and THE Alliance have joined the 2M alliance in cancelling strings on the transpacific. According to analyst Alphaliner the cuts equate to 6.7% of capacity deployed on the trade, or 21,300 teu per week.
Although lines are cutting services on the trade the earlier ramping up of capacity on the transpacific means overall capacity is still slightly higher than one year before.
The cuts would seem to be having the desired effect on previously under pressure spot rates. “The capacity withdrawals are being implemented during the traditionally busy summer peak season, and they have triggered a sharp increase in spot freight rates from the Far East to US West Coast,” Alpahliner said in its weekly newsletter.
Shanghai Containerised Freight Index spot rates between Shanghai and Los Angeles have jumped 41% over the last three weeks to $1,685 per feu.
However, a new APL service in August and the upgrade of an existing service will add 6,600 teu of capacity a week to the trade.