Thursday, November 2, 2017

"10 Startups Making Ocean Container Shipping Easier"

There is some big money trying to bring tech to shipping/logistics.
And a lot of little guys.
From Nanalyze, October 10:
We’re not sure when the term sailor went out of vogue, but we now call those guy seafarers – all 1.6 million of them that pilot the 68,723 merchant ships that navigate our world’s oceans. We say “guys” because 98% of seafarers are males, a fact that may be partially explained by the fact that women are more likely to get motion sickness than men. However this article isn’t about advocating for equality in the maritime industry (there are plenty of people doing that already), but rather to talk about what sort of technology is being applied to freight and supply chain visibility. We recently wrote about International Freight Forwarding Software from Flexport and how they plan to dominate an industry that has fallen way behind when it comes to technology. Since that article, Flexport has raised an additional $210 million in funding. An article by Tech Crunch cut loose with the following factoid about Flexport:
Flexport already moves 7,000 shipping containers a month for an average of $2,000 each while taking around a 15% cut, earning it roughly $2.1 million per month from ocean freight alone
They’re not the only ones looking to get a piece of the action. Those geniuses over at CB Insights came up with a list of over +150 different startups getting involved in supply chain and logistics technology:
Let’s take a look at some of the startups that address the needs of the maritime container shipping industry.

Expedias of Shipping

Founded in 2012, Israeli startup Freightos has raised $55.9 million in funding from investors that include General Electric (NYSE:GE) to make “global trade frictionless” which all starts with providing accurate and timely cost estimates. Their software-as-a-service (SaaS) platform,”AcceleRate”, automates the quoting process for some of the world’s largest freight companies, in all continents, and across air, ocean, and ground. Dubbed the “Expedia of Shipping” by TechWorld, Freightos can give you a quote in just 2 minutes. That’s incredible when you consider that the average time it takes to get a shipping quote presently is 1-3 days with 12% of quotes being inaccurate. The Freightos platform has generated 28.24 million quotes to date.
Another startup looking to provide quick quotes for maritime shipping is a Spanish outfit called iContainers which has taken in $8.3 million in funding so far to develop a platform that covers more than 250,000 shipping routes to 300 destinations around the globe. According to TechCrunch, they’re also the “Expedia of Shipping” in an industry with “more costs built in than artificial ingredients in a TV dinner”. You can literally get a quote right now using the below form:...

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"Maersk Tankers invests in quantitative hedge fund CargoMetrics"
Shipping: Despite $300 Million Revenue Hit From Cyber Attack Maersk Is Upbeat 
Shipping: "The True Implications of the Technology Revolution"
Shipping: Following Maersk,"Now CMA CGM signs with Alibaba for online booking of container space"
Shipping: A Warning To Freight Forwarders, The Good Times Are Over
Shipping: "Amazon Enters Trillion Dollar Ocean Freight Business" (AMZN)
Shipping: Maersk, Alibaba Team Up To Offer Space On Container Ships.