According to the Maritime Executive, on average, “four in ten containers (39%) missed their scheduled departure. At the same time, some major carriers and ports have reported overturn rates of over 50%. While, according to Sea-Intelligence’s Global Liner Performance (GLP) report, “the reliability of global shipping lines fell to 34.9% in January 2021, the lowest in history.”
Today shippers face multiple uncertainties such as space constraints, equipment shortage, origin congestion, destination ports, higher freight rates and shipping delays. . In addition, the limited visibility into the movement of goods also made tracking the shipment tedious and time consuming. This has required managers and freight owners to consolidate data from multiple sources through process-intensive tasks such as phone calls, website browsing, and email communications. Without real-time information on the movement of goods, managing these challenges is extremely difficult and has a negative impact on the entire business.
Armed with a host of technological features, the tracking service aims to solve the challenges logistics managers face as a result of the current global crisis in the EXIM industry. The tracking system records multiple data points throughout the expedition journey. The platform will use ML algorithms capable of predicting shipping delays based on satellite tracking, port congestion, and other signals. It will thus provide access to predictive analyzes to combat the risks associated with shipping schedules based on distribution history.
In addition to offering real-time tracking and ETA through a single dashboard, the tracker will also provide additional services such as carrier performance assessment, predictive analytics to combat risk, and plan for carrier schedule to optimize the supply chain. The service will be available not only to freight owners booking shipments through Freightwalla, but also to exporters / importers, regardless of which service provider they choose to work with.
Commenting on the development, Sanjay Bhatia, Co-Founder and CEO of Freightwalla, said, “The pandemic has completely changed the dynamics of global commerce, so the need for real-time tracking and smart post-shipment solutions has grown even more so. crucial. Tracking as a Service is a disruptive new technology that will enable intelligent tracking and offer advanced predictive analytics, enabling exporters to make smart and informed decisions. It is now more critical than ever to be able to anticipate logistical challenges so that the buyer-supplier relationship is not hampered by the uncertainties of today’s maritime industry. Improved visibility and real-time intelligence will help drive transparency and sustainability across all supply chains, paving the way for healthy business relationships. ”
Freightwalla has partnered with 60 shipping companies to enable exporters and importers to track containers on multiple carriers from a single platform. The service will provide a unified, real-time view of all shipments, including transload carrier tracking for advanced supply chain planning and eliminate manual tracking. In addition, the platform will capture multiple data points such as the departure of the shipment, the time of arrival and the ports visited.
The digital freight forwarder aims to bring transparency and visibility to the shipping and logistics industry, modernize operations throughout the supply chain, and help make it easier for government to do business in India.