Three Shipping Giants Join to Create Blockchain Platforms for International Supply Chains
Three competing shipping giants have joined a tech venture to develop blockchain platforms for international supply chains. They joined forces to remain relevant in the logistics industry, where players like Amazon have become leaders in cloud computing and international logistics for their own use, only to turn around and resell those services to the industry. Read more about this trend at JOC.
Digital Freight Management Systems
Digital freight management systems may push traditional freight forwarders out of business. However forwarders offering 3PL services, provide added value because the complexity of certain supply chain services are not conducive to digitization. Cargo owners benefit from digital platforms by cutting out middlemen for point to point transport but still need logistics specialists to handle pre and post-shipment services.
To learn more about digital platforms and related block chain developments, click on below links:
WeWork Opens Media and Entertainment Shared Workspace in Hollywood
This facility takes WeWork’s concept of shared office facilities a step further, by providing shared recording studios and editing rooms for smaller tenants, who prefer not to make large investments in equipment and facilities. To learn more about the new concept in shared media workspaces visit The Hollywood Reporter.
(Photo by Elizabeth Daniels)
Ocean Freight Rates
Ocean freight rates are impacted by reversals in short and long term demand as a result of the trade wars. According to some analysts, container rates from China typically increase with demand before tariff increases take effect. Once the tariffs are in place, demand softens, creating downward pressure on freight rates. Read more from Freightwaves here.
Steel and Aluminum Tariffs
Steel and aluminum tariffs have been lifted on imports from Canada and Mexico to the US. In return, Canada has agreed to lift the retaliatory tariffs on import of certain products from the US. This move will bring welcome relief to many industries. Imports into Canada still require NAFTA documentation for customs. Once the USMCA is approved by all parties, the requirements are likely to change.
Read more at Transport Topics
(Photo: An employee performs a quality check on a steel slab at a plant in Nanticoke, Ontario, Canada. Cole Burston/Bloomberg)