We are very close to the end of the year 2016, which was an interesting one for the maritime industry. During this period, the hard conditions of the market pushed many shipping lines to combine their forces in order to continue operations in the way of strategic alliances. However, some of them didn´t make it, like the case of Hanjin Shipping Co. The South Korean carrier sank into bankruptcy and caused chaos in the sector, just a few weeks before black Friday and Christmas season.
The entry into force of the new SOLAS regulations about the verified gross mass (VGM) worldwide was another controversial issue that caused huge expectations for all the players involved in the intermodal industry. As a result, innovative solutions were developed to obtain the Gross Mass and comply with the rules.
In Latin America, the inauguration of the extended Panama Canal to allow the transit of three times bigger vessels was a radical improvement which is expected to positively affect the regions’ economy and recover many clients from another route. Even LEGO launched a limited edition of a working model of the Panama Canal to celebrate the occasion.
Additionally, innovation in the form of digitalization and automation, the use of big data and blockchain work their way through the industry to bring faster and more efficient solutions in the logistics processes. Although in a slow pace, agreements like the one between DP World (The third largest port operator in the world) and Hyperloop to speed up terminals operations are the first look at tomorrow’s intermodal industry.
Without a doubt, 2017 is profiled as a year of great changes, due to the many mergers and agreements between shipping lines that will become effective and will reshape the sector.
The fall of Hanjin Shipping Co. brought a logistics nightmare for thousands of companies, which goods were inside Hanjin’s vessels. Two of those companies were Hewlett-Packard and Samsung Electronics Co. Here the details of that story.
About 90% of goods worldwide are carried by the shipping industry, making it indispensable for the world and for the development of our daily lives. Here we present four reasons to use maritime transport.
Drewry launched its expectations about the future of shipping lines in 2017 and indicated that there would be more consolidation next year. Also, an infographic about current and upcoming alliances.
A partnership between the Danish Shipping Line and the IT University of Copenhagen took part to reduce paperwork through the introduction of blockchain technology.
Hanjin Shipping’s collapse started in May when the Korean carrier received creditor approval for a voluntary restructuring. Just a few months later, Hanjin filed for receivership after creditors rejected the restructuring plan. Our infographic gives an overview of the facts.