Enabling Collaboration Across the Container Shipping Industry.
INTTRA, the largest neutral network, software and information provider of the ocean shipping industry, hosted a Technology Summit in Hamburg, Germany this April focused on innovation to action.
The summit was attended by more than 130 senior shipping executives. Over 50% of the attendees were C level or SVPs, with 38% representing shippers and BCOs, 35% technology companies and 27% carriers. The event was a forum for collaboration across container shipping intended to advance the digital transformation of the ocean freight industry.
“INTTRA is well positioned to drive the collaborative effort required to address industry challenges such as a contracted rates management network and data interoperability, as well as landside equipment optimization through Avantida,” said INTTRA CEO John Fay. “It is clear, based on the feedback from our attendees and the momentum in our business, that the industry has moved over the digitalization tipping point. This is the year of moving from innovation to action.”
One of the highlights of the event was the unveiling of a customer survey sent to Tech Summit attendees to understand their business challenges and appetite for digital transformation. Key takeaways include:
IT innovation initiatives currently underway:*
Biggest container shipping challenges for BCOs and Freight Forwarders:*
Biggest container shipping challenges for carriers:*
What are the biggest challenges you face turning innovation to action?*
* Participants were given the opportunity to select more than one answer to these questions which is why the percentages do not total 100%.
“INTTRA can help address the needs discussed at our Technology Summit and highlighted in our survey,” said Inna Kuznetsova, President and COO, INTTRA.
“Many customers name data sharing across the industry as another challenge,” adds Ms. Kuznetsova. “As supply chains get digitalized, new opportunities to connect various sources create a foundation for better visibility and optimization. Our advances in network services, including API-enabled connections, help our customers to accelerate the digital transformation and overcome hurdles.”
New Rates Pilot
INTTRA announced a rates pilot intended to optimize the management of negotiated and contracted ocean transport rates. The current system for managing rates often leads to errors as high as 30-45% with incorrect freight invoices due to how contract rate changes are managed and communicated. The pilot program follows a successful proof of concept that involved a major carrier and INTTRA’s Blockchain Network Services.
Avantida shows strong growth
Avantida, which INTTRA acquired in 2017 as its entry into landside container movement, showed significant growth over the past year as it both expanded in existing markets and entered new ones, including Germany, France, Poland, Lithuania and Mexico. A few highlights: