![]() ![]() This is achieved by forecasting pricing via dozens of market, industry, and company-specific factors. With BlueX AI-driven Dynamic Pricing algorithms, ocean carriers can g enerate greater revenue by maximizing price points to match price and demand effectively. AI is essentially software that learns and makes decisions based on multiple data inputs.įor ocean carriers, AI tools are allowing them to optimize their operations for greater efficiency. That’s changing in 2021.ĪI in ocean shipping operations can bring about considerable benefits such as improved demand forecasting and price optimization. While the airline industry has been utilizing AI (Artificial intelligence) for years, ocean carriers are still figuring out where this FreighTech belongs in their playbook. Freight Price Optimization via Artificial Intelligence However, the variability in demand has only accelerated the digitalization in freight, boosting their profitability while also streamlining shippers’ and freight forwarders’ ocean freight experience for greater efficiency.ģ. ![]() While ocean carriers see gains, shippers face higher rates due to fewer shipments and container shortages as demand outstrips ocean carrier supply. It remains to be seen whether COVID-19 will continue to affect operations and trade far into 2021, but early 2021 looks to have similar volatility. Maersk exemplified this trend by announcing massive gains in Q3 and potentially Q4 of 2020, led by their online spot booking platform's continued growth. The second half of 2020 led many ocean carriers to greater profitability as they limited supply and used the spot market to optimize revenues. If 2020 was the year that COVID-19 disrupted ocean freight and logistics, then 2021 is increasingly looking like more of the same. COVID-19 in 2021 – Demand Disruptions Lead to Continued High Freight Prices and Container Shortages in Early 2021 ![]()
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