Changes in how ocean freight bookings are managed are poised to drive comprehensive digitization across containerized supply chains, according to software vendors specializing in solutions for shippers and forwarders.
The prevailing belief is that as electronic bookings become more standardized among ocean carriers, the data generated can significantly enhance coordination both upstream and downstream of the booking process. Currently, booking procedures are often isolated events, but a unified electronic booking system accessible to all stakeholders—shippers, forwarders, and carriers alike—could revolutionize coordination efforts before and after bookings are confirmed.
Bryn Heimbeck, president of Trade Tech, emphasized the importance of starting with bookings and seamlessly integrating shipping instructions and shipment details thereafter. He noted the industry’s historical focus on tracking and shipping instructions ahead of bookings, resulting in less efficient processes. Trade Tech recently launched a new booking platform aimed at consolidating data access for shippers, carriers, and non-vessel-operating common carriers (NVOs).
Heimbeck argued that despite the availability of electronic booking options for two decades, the process remains largely fragmented. He stressed the necessity for a unified platform, highlighting Trade Tech’s initiative to streamline operations across multiple carriers.
“The aspiration is to consolidate bookings into a single platform,” Heimbeck explained. “This eliminates the need to manage multiple carrier websites, streamlining administrative tasks and improving efficiency.”
Heimbeck contended that NVOs are ideally positioned to manage booking processes and associated data, despite the predominant focus on carrier-led online booking solutions in industry discourse.
Trade Tech’s platform aims to empower NVOs by enhancing their role in the booking process, thereby promoting collaborative digitization efforts where data entry is minimized.
Centralizing booking data enables real-time visibility and facilitates adjustments by NVOs and shippers alike, ensuring alignment across all parties involved in the supply chain.
Rob Petti, CEO of Prompt, highlighted ongoing challenges for logistics service providers in linking bookings to vessel space and shipment equipment. He emphasized Prompt’s commitment to improving the booking process, particularly in integrating booking confirmations with actual shipping allocations.
Technology promises to streamline these processes, reducing the time between booking requests, carrier confirmations, and subsequent communication with shippers and contract management.
Despite advancements in carrier-specific booking APIs, integration specialist Jaakko Elovaara noted a persistent demand for multi-carrier interfaces to simplify management and maintenance for forwarders.
The shift in the industry towards diversified booking solutions comes amidst INTTRA’s declining market share, presenting opportunities for new software vendors to innovate and drive broader digitization efforts among forwarders and shippers.
