Blockshipping: A key to cost reduction in shipping industry

stazhao (61)in #ethereum • 6 years ago

Today the global shipping industry is facing a lot of challenges which include overcapacity, low profitability, inefficiency and increasing regulations concerning environmental protection. Currently the container shipping industry covers at least 60% of world seaborne transportation but needs a lot of reforms and overhauling, the industry lacks innovation which is key to cost reduction. The technology advancement that has been observed in other trade segments is absent in shipping industry.

There are at least 27 million metal containers in the whole world at the moment out of which a minimum of 20% are always unaccounted for, we do not know the actual whereabouts of the whole inventory. If we are able to use the inventory of containers smartly, we can reduce our cost and the industry can save billions of dollars every year.

Blockshipping is providing a solution to the problems by introducing Global Shared Containers Platform (GSCP), the world’s first global registry that tracks the real time location of the world’s complete inventory of shipping containers and the first blockchain enabled platform that connects all the industry players including shipping lines, freight forwarders, importers, exporters, ports and terminals and provides an opportunity to carry out all kinds of industry related transactions smoothly and in the most transparent manner.

Let’s talk from the prospective of an exporter who needs a container for his export shipment. The exporter will contact his forwarder who will arrange an empty container from a shipping line, the exporter will pay the haulage charges for the empty container apart from in & out charges at the terminal but GSCP provides an opportunity to logon to his account where he can spot an empty import container in his surrounding area that matches his requirements. The exporter can avail the empty import container, thus saving so many charges which he would incur in the absence of GSCP. The exporter can make all other transactions concerning the insurance and the shipping line, using the same platform with much ease. This is just one example but as a matter of fact GSCP will bring much needed innovation to the shipping industry.