Singapore and Hong Kong terminals launch blockchain initiative
PSA International of Singapore and Hong Kong’s Modern Terminals (MTL) have committed to using a blockchain cargo documentation system to improve data security and enable faster movement of cargo through the supply chain.
The developer of the blockchain system is Crimson Logic which has PSA International as a 45 percent shareholder. The company is developing Global eTrade Services (GeTS) blockchain to integrate supply chains and documentation.
Smaller containers ships get scrapping reprieve
The number of smaller containerships scheduled for scrapping has fallen by nearly half in the last month as a shortage of capacity in this sector has led to an increase in charter rates, according to shipbroker Braemar ACM.
Only 52 containerships, equating to 94,000 TEU, have been sold for scrapping so far this year, compared with 141, or 398,500 TEU, in the same period in 2017.
A boost in charter rates and a shortage of newbuildings have spurred owners on to reactivate vessels in the 4,000TEU range.
German air cargo to focus on technology
A call for more digitisation in the air cargo sector has been made by The Board of Airline Representatives in Germany (Barig) in order to compete with low cost rivals and avoid bottlenecks.
Michael Hoppe, Secretrary General of Barig said that Frankfurt’s FAIR@Link airport apron guidance system and the digital declaration of hazardous goods has been a success but that more needed to be done.
“To adequately manage capacity bottlenecks, the lack of qualified personnel and competitive disadvantages due to lower operating costs in other countries, more courage for digitalisation and innovation is still required,” he said.