Urgent call for breakdown of cargo onboard as General Average declared on Dali
Singapore-based Grace Ocean has officially declared General Average on its vessel, the Maersk-chartered and operated ...
Source: Goldman Sachs
By Mike Wackett
A thought-provoking article here courtesy of The Barrel Blog from S&P Global Platts on the benefit – or some might call it the threat – of the digital revolution to the liner industry’s traditional modus operandi.
Author Eleni Pittalis, a trainee commodities associate at the market information provider, has taken a fresh look at the “archaic” liner industry and is stunned by the “sheer volume of transaction” necessary to effect container shipments around the world.
Moreover, these interactions, notes Ms. Pittalis, expose the supply chain to unnecessary additional risk as concerns mount over cyber hacking.
She views Maersk’s initiative of developing a blockchain partnership with IBM as “the equivalent of unclogging a smoker’s arteries” by dispensing with “the convoluted paper trail previously involved in a single voyage”.
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