In the recent year, as production bases relocate out of China as a result of the Trade War between the USA and China, the industry has seen a shift in the demand of cargo space to other emerging markets.  This capacity shift is now adding pressure on liners to rely more on carrier cooperation to maximise their load factor and resource utilisation. Given that maritime transport remains as the backbone of global trade, the traditional way carriers are used to operating at now has to change.

Whether it is to thrive or survive, it is essential that carriers re-assess their current systems, re-align their business goals and capitalise on carrier collaboration by determining what data should be exchanged and how to utilise the shared data.

Cooperating carriers typically exchange vessel schedules, special cargo applications and bayplans. Depending on the degree of partnership between carriers, the complexities behind the frequency and volume of slot arrangements intensifies. Engaging in a single instance of truth with joint vessel operating solution help carriers gain clarity over slot allocation and utilisation as well as to agree on final settlement.

Carriers are now hard-pressed to reduce manual processes and to harness accurate tracking and communication as they establish joint operations and form alliances. It is therefore necessary that collaborative partnerships must be in place to have improved visibility for all stakeholders as they face customers’ increasing expectations for shipment reliability and timely visibility to their cargo’s status.

Having a collaborative environment of carriers that sits on a shared digital platform delivers exponential benefits where manual and duplicated efforts can be minimised. Every collaborating partner will have access to a single instance of truth, which means they get to experience real-time visibility to accurate information. The resultant data then reinforces control of the present situation.

With a polarised carrier market that further stiffens competition, the ocean trade ecosystem as a whole will stand to benefit by being able to collaborate and remain commercially competitive. To stay ahead of the game, digitalisation has to become more agile and responsive to the market demands. With the enablement of a common platform and more stakeholders coming onboard, it lends greater insights in planning for the future.