SEA FREIGHT

Sea Freight

Sea freight transports over 90% of the world's goods.

(Source: International Chamber of Shipping)

The sea freight industry makes up a significant portion of the global transportation industry, which plays a crucial role in the global supply chain. According to Statista, the global sea freight market was valued at US $12.1 billion in 2020 and is expected to grow at a CAGR of 4.4% from 2021 to 2028. However, lack of monitoring and visibility has resulted in significant wastage of resources and inefficiencies in the industry. According to a report by the World Economic Forum, the global logistics industry wastes $1.5 trillion annually due to poor monitoring and coordination. This highlights the need for efficient and effective monitoring solutions in the sea freight industry.

For instance, monitoring cargo movement, handling, and storage across different ports and vessels can be a tedious and time-consuming process. Also, the lack of visibility into the shipment status and location can lead to delays and increased costs.

Compliance Requirements For Sea Freight.

To ensure safe and secure sea freight operations, the industry must comply with several regulations and standards. Some of the compliance requirements include:

International Maritime Organization (IMO) regulations on safety and security.
Customs regulations on import and export documentation.
Environmental regulations on emissions and waste disposal.
Safety of Life at Sea (SOLAS).
International Maritime Dangerous Goods (IMDG) Code.
Customs-Trade Partnership Against Terrorism (C-TPAT).

Challenges Faced By The Sea Freight Industry.

The sea freight industry faces challenges related to monitoring and visibility. Here is a list of challenges faced:-

Lack Of Transparency

Lack of transparency throughout the supply chain, leading to difficulties in tracking shipments and identifying potential issues.

Outdated Operations

Outdated usage of manual operations such as data entry can cause issues such as miscommunication due to human error, leading to delays and higher costs.

Lack Of Visibility

Lack of visibility and insights which could help with better decision-making.

Disjointed Systems

Having a separate system in place for every process can be confusing, leading to delays and inefficiencies.

Solutions For The Sea Freight Industry

Asset tracking and monitoring systems can be used to help the sea freight sector overcome challenges experienced.

By using these technologies, organizations will be able to attain greater visibility into their supply chains, allowing them to track shipments, spot possible problems, and streamline processes.

Operational efficiency can be increased with a centralized solution that provides greater visibility and control over the whole supply chain.

Businesses can use digital tools and platforms that provide greater visibility into their compliance status and alerts and notifications as required to be compliant.

Automated workflows can boost efficiency, minimize errors, and streamline operations.

Companies can save time and resources and concentrate on their core business operations by automating tasks like data input, documentation, and communication.

The sea freight industry is a crucial aspect of global trade and commerce. Adapt Ideations' innovative asset-tracking products can assist in solving several challenges faced by this industry. By doing so, companies can improve efficiency, reduce costs, and stay compliant with regulations.

How ADAPT Can Help

Location Tracking.

Asset tracking solutions can enable real-time location tracking ensuring you always know where your assets are whether in the warehouse, in transit, or arrived at their final destination. While connectivity is required to receive data, ensure you have access to data as soon as possible with instant alerts when connectivity is attained.

A truck is sitting on top of a cell phone surrounded by boxes.

A laptop computer with a graph on the screen.

Temperature Detection.

Temperature detection is a core feature of our data loggers and enables companies to monitor temperature-sensitive assets consistently.

Alerts.

When deviations from set parameters occur, an instant alert will be sent to notify concerned parties enabling necessary action to be taken. Receive alerts as soon as possible once connectivity is attained for a greater understanding of the liability of assets, where products are and conditions experienced.