The main goal of the shipping industry is to transport goods by making use of high capacity ocean going ships that transit on regular routes on fixed schedules.
Shipping is a truly global industry. It connects business, markets and people across countries allowing them to trade in goods at an unimaginable scale. Shipping is estimated to account for 60% of international trade by value, amounting to over 4 trillion US dollars’ worth of goods every year. By moving large volume of goods are low cost through economies of scale, shipping enables global trade like no other industry.
Cargo also has to move using surface transport (trucks or rail) in the source and destination countries making the end-to-end shipment an intermodal transport system. Service disruption or lack of coordination at any leg of the intermodal system can cause delays and increased cost.
Globally, the United States of America and China are the largest contributors to the trade and by far the busiest trade route is North-America to East Asia. Europe is another major contributor also interesting because many of the countries in Europe are land-locked, requiring extensive on surface transportation.
PMSoft has been working with global shipping companies across the value chain for over 10 years and understands these challenges. Here are some of the ways in which PMSoft has been helping Shipping companies.