The invasion of Ukraine by Russian troops has led to multiple fast-changing developments in global ocean supply chains that are still reeling from the ongoing pandemic. Stakeholders are bracing for the potential impacts of this conflict on shipments, freight rates, and additional logistics capacity constraints.
The Port of Santos in the state of São Paulo, Brazil has been experiencing an increase in the number of vessels waiting to berth at its port. As of Thursday (24th February 2022), there were 88 vessels anchored awaiting berthing (See Port Insight image below)
Global supply chains are on edge as President-elect Donald Trump has proposed significant tariff hikes. His plan includes a 25% tariff on imports from Canada and Mexico, and 10% on goods from China, which could disrupt logistics operations and supply chains around the world.
The rise of AI-driven SaaS solutions has dramatically changed modern freight forwarding. Gone are the days of manual processes and endless paperwork. Now, AI technology is upstaging the status quo helping freight forwarders streamline operations, reduce errors, and deliver faster results.
Read about how IoT cargo monitoring systems are preventing maritime disasters through real-time temperature, humidity & location tracking. Learn about SeaVantage's cutting-edge container safety solution.
The late October 2024 DANA storm that swept over the eastern and southern parts of Spain has left its mark indelibly on the country's infrastructure: it caused flooding across the board and seriously disrupted port operations. DANA (Depresión Aislada en Niveles Altos) stands for short isolated high-altitude depressions which, together with the warmth of Mediterranean moisture, cause heavy storms in a very localized manner.
Gain firsthand insights into how Phelix Shipping Ventures harnessed SeaVantage's cutting-edge vessel tracking solution to drive measurable results. Download this success story to see how SeaVantage’s Ship Insight platform can transform operational efficiency in the maritime industry.
A series of labor disputes are causing significant disruptions at some of Canada’s busiest ports, including the Port of Vancouver, Port of Prince Rupert, and the Port of Montreal. These tensions have led to lockouts and strikes that are already affecting container traffic, trade flows, and operations across North America.
In recent years, extreme weather has presented serious and costly challenges for supply chains worldwide. By 2024, the frequency of billion-dollar weather events in the United States alone has increased, occurring every three weeks on average—a stark contrast to once every four months in the 1980s.
Did you know that in 2021, the average waiting time for container ships at the Port of Los Angeles reached a staggering 8 days? This is a stark contrast to the 2.5 days recorded in 2019. Port congestion has become a major bottleneck in global trade, affecting everything from shipping costs to product availability. As ports like Singapore, Rotterdam, and Los Angeles struggle to keep up with demand, the ripple effects are felt across industries worldwide.
Recent events have underscored the critical importance of supply chain visibility, pushing businesses to reevaluate their strategies and invest in more robust, data-driven approaches.
The clock is ticking for U.S. East and Gulf Coast ports as a potential strike by the International Longshoremen's Association (ILA) looms on October 1st. With talks between the union and port operators at an impasse, the prospect of widespread port closures grows more likely by the day.
The year 2024 has witnessed a combination of unprecedented disruptions that have significantly impeded the international shipping industry's operations. The latest includes this report by Global Maritime Risk Management expert, Ambrey, which details escalating military tensions in Lybia particularly around oil production and control, which pose a significant threat to the stability of Libya and could lead to localized conflict, impacting oil markets and regional security.
As geopolitical tensions disrupt traditional shipping lanes, particularly in the Red Sea, the maritime industry is turning its gaze northward. The Northern Sea Route (NSR) is emerging as a viable alternative, promising to reshape global trade routes and maritime logistics.
If you are involved in the import/export business, you may have heard of ‘ship tracking’ or have tried tracking it yourself. Through ship location tracking, people want to know where my or my customer’s cargo is on the sea, which route it takes, where it transits, etc. And consequently, the cargo’s arrival time. In addition, ship tracking will also be able to identify cargo delays and variable situations that frequently occur in maritime transportation in advance and prepare for them so that there are no disruptions to the logistics plan.
What happens when the world's busiest waterways become choke points for global trade? In 2024, we've witnessed this scenario unfold dramatically with the ongoing crisis in the Red Sea and Suez Canal, where Houthi attacks on commercial vessels have forced many ships to reroute around Africa. This situation together with other recent events has reignited concerns about port congestion on a global scale, highlighting the fragility of our interconnected supply chains. As businesses and consumers grapple with the ripple effects of these disruptions, understanding the causes of port congestion and developing strategies to mitigate its impact has never been more crucial. This article delves into the complexities of port congestion and introduces how SeaVantage Port Insight can help businesses navigate these turbulent waters in an increasingly unpredictable global trade landscape.
In an unprecedented turn of events, a faulty update from cybersecurity giant Crowdstrike recently triggered what is being called the largest global IT outage in history. The update, intended to bolster security, instead crashed Microsoft's operating system, leading to widespread disruptions across various sectors, most notably in air freight and maritime operations.
The shipping industry has been closely monitoring the dramatic surge in spot container freight rates in recent weeks. However, the latest data suggests this upward trend may be losing steam, for now. Here's the current state of affairs and what it might mean for the market.
In a significant move that promises to reshape the maritime industry, SeaVantage, a South Korean startup specializing in AI-driven maritime data analytics, has announced a strategic investment of $2.3 million from HD Hyundai Marine Solution. Announced on July 11, 2024, this partnership aims to revolutionize visibility and sustainability in global shipping logistics by applying advanced AI and big data technologies. The collaboration between these two innovative companies signals a new era in maritime operations, one that prioritizes efficiency, sustainability, and data-driven decision-making.
In today's complex global supply chains, simply tracking shipments is no longer enough. The recent Red Sea blockade has served as a wake-up call for the shipping industry: traditional tracking methods fall woefully short in an era of geopolitical uncertainty and supply chain volatility. From predicting ETA changes due to route diversions to managing port congestion caused by sudden influxes of rerouted vessels, ocean visibility has emerged as a critical tool for navigating these turbulent waters.
Demurrage and detention are often used interchangeably in logistics; however, these terms refer to distinct concepts, even though they are closely linked. While both can involve charges, there are strategies to significantly reduce or avoid these costs in your supply chain.
In today's competitive world market, knowing exactly where your shipment is at all times is more critical than ever. The ability to track and manage the movement of goods across the world with precision and real-time updates can make the difference between a thriving business and a struggling one.
New regulations from the Federal Maritime Commission (FMC) aim to enhance transparency and fairness in demurrage and detention billing. These changes impact the issuance of invoices, designate the recipients, and address dispute resolution procedures.
The recent collision between the Singapore-flagged large container ship 'Dali' and the Francis Scott Key Bridge has resulted in significant losses for ocean shipping, particularly, impacting operations at the Port of Baltimore. With ship traffic suspended indefinitely, the aftermath of this incident has left six individuals missing and resulted in daily economic losses estimated at $15 million.
At SeaVantage, we understand the importance of staying ahead of the curve in the ever-evolving world of shipping and logistics. That's why we're excited to share key takeaways from the recent Transpacific Maritime Conference (TPM24), where industry experts shed light on the challenges and opportunities shaping today's trade landscape.
The recent disruptions in the Red Sea and Panama Canal Drought have sent ripples through the global shipping industry, causing significant impacts on established routes and compelling vessels to reroute. This has introduced a complex web of challenges for vessels transiting through these regions. In such turbulent times, monitoring vessels becomes critical for businesses involved in maritime trade.
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