FourKites Research Report Highlights Evolving Challenges in Ocean Shipping

FourKites Analysis Report Highlights Evolving Challenges in Ocean Delivery



After a tumultuous three years for international provide chains, ocean freight stakeholders are below stress from shifting financial situations, geopolitical influences and labor challenges going into 2023. That’s in line with a brand new survey launched at present by main real-time provide chain visibility supplier FourKites.

The survey polled over 350 provide chain professionals to make clear the highest points dealing with the ocean transport {industry}. The survey revealed that the previous few years of provide chain disruptions — together with COVID-19, market volatility, international political battle, materials shortages and excessive climate occasions — have pushed 73% of respondents to spend money on provide chain visibility, with 46% planning to speculate extra in 2023.

“Shippers and different gamers within the provide chain ecosystem are getting smarter about allocations by tapping into extra dependable and real-time information, as an alternative of guessing,” stated {industry} knowledgeable Chris Stauber, Founding father of VentureSoftPM. “They wish to know, as an illustration, what the risk-versus-reward shall be for going to an additional port or nation to maneuver their containers, or for shifting from one provider to 3 for uncooked provides. Further funding is required to get higher information, however the worth of that information brings an enormous discount in threat.”

Different key survey findings embody:

● 50% of respondents reported having zero visibility into their ocean freight, with greater than 20% counting on guide track-and-trace processes to trace their ocean freight.

● Greater than half of respondents have been most involved about labor challenges, excessive transport prices and impacts to customer support, with 35% additionally reporting issues round congestion on the ports.

● 73% of respondents reported having some degree of visibility into their over-the-road transport.

The survey findings have been revealed within the report, The Nice Reset: Ocean Delivery in a Publish-Pandemic World. The report consists of knowledgeable evaluation on the present state of ocean transport, predictions for 2023 and methods shippers can shore up their provide chains to construct resilience for the longer term. Obtain a replica of the report right here: https://www.fourkites.com/assets/ocean-shipping-report/?utm_source=direct&utm_medium=press&utm_campaign=global-ocean-report

FourKites continues industry-leading ocean momentum

FourKites’ has seen continued development in its ocean visibility enterprise over the previous 12 months. The corporate now tracks 98% of worldwide ocean container site visitors throughout greater than 270 lanes and 120 carriers, throughout each container port in North America and all main ports in Europe. Over the past 12 months, FourKites has tracked greater than 1.3M ocean shipments — a 163% enhance in ocean quantity year-over-year — and has seen 70% development in ocean prospects year-over-year, with prospects now together with Cardinal Well being, Arizona Tile, LyondellBasell, American Eagle Outfitters, McCain Meals, Roehm, Rove Ideas, Yamaha Motors and RCS Logistics.

A testomony to the worth of FourKites’ ocean visibility choices, FourKites buyer RCS Logistics reviews that since deploying the FourKites platform — together with the corporate’s groundbreaking Dynamic Ocean® resolution — in Q3 2022 to trace ocean, drayage and OTR shipments, the corporate has achieved 7x development in its home transport companies, whereas its ocean freight enterprise has grown 12x.

“We’re identified within the {industry} as a number one air freight forwarder,” notes Brian Aldridge, Senior Vice President of Gross sales, at RCS. “With FourKites, we’ve been capable of elevate our ocean freight expertise and join the dots with different modes to actually differentiate ourselves out there. Our prospects and companions recognize FourKites’ easy, fashionable interface, and the transparency it creates throughout their provide chain.”

FourKites’ Dynamic Ocean offers prospects end-to-end precision ocean freight monitoring, probably the most correct predictive ETAs, and might simply combine with their present TMS. Further capabilities assist worldwide shippers establish and mitigate the dangers and prices related to runaway demurrage and detention (D&D) charges, and proactively handle exceptions. These embody exception dashboards, notifications and alerts; analytics dashboards; and the power to monetize the potential and precise monetary affect.

Main international provide chain visibility platform FourKites® extends visibility past transportation into yards, warehouses, shops and past. Monitoring greater than 3 million shipments each day throughout street, rail, ocean, air, parcel and final mile, and reaching over 200 international locations and territories, FourKites combines real-time information and highly effective machine studying to assist corporations digitize their end-to-end provide chains. Greater than 1,200 of the world’s most acknowledged manufacturers — together with 9 of the top-10 CPG and 18 of the top-20 meals and beverage corporations — belief FourKites to rework their enterprise and create extra agile, environment friendly and sustainable provide chains. To study extra, go to https://www.fourkites.com/.

https://www.fourkites.com/assets/ocean-shipping-report/?utm_source=direct&utm_medium=press&utm_campaign=global-ocean-report

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