Insights from London International Shipping Week 2023
Insights from London International Shipping Week 2023 #lisw2023 It is great to be a part of such event. Our company participated in the roundtable at Lancaster House where discussions were around AI leveraging economic growth in maritime and building the skills to be world leaders.
I like where the UK's maritime sector is going! Less resistance, more taking actions!
London International Shipping Week 2023 brought together experts, government representatives, and industry leaders to discuss crucial topics shaping the maritime sector. Among the many thought-provoking discussions, a roundtable centered on the role of artificial intelligence (AI) in leveraging economic growth and the skills needed to become world leaders caught the attention of participants.
AI and Economic Growth in Maritime: During the roundtable, UK government representatives expressed their concerns about the impact of AI on the maritime sector and its potential effect on jobs. The focus was on understanding how AI and related entities within the industry aim to utilize this technology. The aim was to identify both the challenges and opportunities that AI presents.
Building Skills for the Future: One of the central discussions revolved around the skills required to adapt and thrive in an AI-driven maritime sector. The participants acknowledged that digital transformation and AI would undoubtedly reshape job descriptions and require new skill sets. However, the consensus was clear: although job roles may evolve, the jobs themselves will not disappear.
Embracing Digital Transformation: The roundtable highlighted the potential for AI and digital transformation to drive economic growth while acknowledging the need for employees to upskill and reskill. The consensus reached was that AI, when properly applied, has the potential to enhance overall efficiency, safety, and sustainability in the maritime industry.
Addressing Concerns: UK government representatives' concerns regarding AI's impact on jobs were met with reassurance from industry leaders. They emphasized that as the sector evolves, new job opportunities will arise alongside the changing job descriptions. The focus should be on leveraging AI to optimize existing processes, improve decision-making, and enable humans to focus on higher-value tasks that require critical thinking and creativity.
Call for Collaboration: The participants recognized the importance of collaboration between industry players, government bodies, and educational institutions to prepare the workforce for the digital future. By working together, they could develop training programs and initiatives that equip individuals with the necessary skills to succeed in an AI-driven maritime sector.
LogTech: Why VCs should pay attention to logistics innovation
In today’s dynamic business environment, embracing innovation is the key to staying relevant. However, the logistics sector in the UK appears to be holding onto traditional practices, often unaware of the hidden consequences.
For industry insiders, including venture capitalists and private equity firms keeping a watchful eye on the logistics technology (LogTech) sector, it’s essential to delve into these unspoken costs.
1. Losing talent
Within the logistics sector, there’s a pool of talented individuals eager to harness modern technology for streamlined operations. Unfortunately, outdated processes can become a source of frustration, driving these capable professionals to seek opportunities elsewhere.
For those in the know, this talent migration presents an opportunity to support companies that can attract and retain these skilled individuals.
2. Clients moving towards convenience
In today’s fast-paced landscape, clients, especially shippers, are relentlessly seeking ease and transparency in their logistics experience. They are increasingly drawn towards logistics providers offering self-service portals, called ‘client zones’, and other convenient solutions.
Logistic companies that lag in providing these modern conveniences may witness clients gradually migrating to competitors who offer seamless, tech-enhanced experiences. This underscores the pressing need for LogTech solutions that not only streamline logistics operations but also elevate the client experience, ensuring retention in an evolving market.
3. Costs creeping up
Traditional processes, while familiar, are often labour-intensive and prone to errors. Inefficiencies within logistics operations lead to hidden costs that slowly erode profit margins. In the background, LogTech startups are diligently working on solutions to address these inefficiencies, effectively reducing operational costs for those who embrace them.
4. Falling behind the competition
Logistics firms that remain resistant to technology often find themselves at a considerable disadvantage. Alongside this, the rise of digital freight forwarders presents a notable challenge. These agile competitors leverage technology advantages to capture market share, reshaping the logistics landscape.
This collaboration between LogTech and these new entrants is poised to redefine the industry.
5. The evolution of freight forwarding
It’s not just the clients who are evolving; freight forwarders themselves are ready for optimisation and efficiency. The logistics sector has shifted from being solely rate-driven, particularly in the wake of market disruptions like the Covid-19 pandemic.
Today, the emphasis is on efficient management, surpassing the era of rate fluctuations. This change in focus has given rise to marketplaces and other tools, acknowledging the need for a broader spectrum of advantages beyond rates, with a heightened focus on overall efficiency.
In summary, the LogTech sector offers a wealth of opportunities for those within the logistics community and industry insiders to subtly enhance awareness of these unspoken challenges.
By recognising the hidden costs of sticking with traditional logistics methods and acknowledging the ongoing transformation, the industry can foster a shift towards modernisation, efficiency, and adaptability, ultimately shaping a more vibrant and competitive logistics landscape in the UK.
We are are now a proud member of BIFA
We are are now a proud member of British International Freight Association - BIFA . We're committed to logistics excellence, and our BIFA membership reflects our dedication to best practices, professionalism, and growth.
As part of this esteemed community of over 1600 logistics professionals, we're excited to connect, learn, and contribute to industry advancements. Let's drive innovation in logistics together!
Cheers to the journey ahead with Cargo Stream and BIFA!
Cargo Stream, launches product for freight forwarders to collect trucking company rates in the U.K. market
News on Bloomberg News - Cargo Stream, launches product for freight forwarders to collect trucking company rates in the UK market.
This platform aims to address the inefficiencies prevalent in the logistics industry, such as overpayments of nearly 17% in logistics expenses due to outdated procurement methods, including Excel-based tenders and email-based transportation bookings.
Derek van Dyk, Head of the UK at Cargo Stream, envisions a future where the logistics industry embraces technology for more efficient and reliable tendering processes.
Here you will find the full article in Bloomberg and in London Mercury.
DEREK VAN DYK to Spearhead UK Operations at Cargo Stream
Continuing news about the UK - Derek van Dyk to Spearhead UK Operations at Cargo Stream! Derek brings a wealth of experience to his new role, having a role at Flexport and having held executive positions in renowned logistics giants such as DHL, DSV, Rohlig, XPand Logistics, and UK's digital freight forwarder ZenCargo. His deep understanding of the complexities and challenges within the logistics sector, combined with his practical knowledge of digital forwarder operations, makes him the perfect fit for this role.
We share the same vision: to digitize and streamline freight forwarders and other logistics stakeholders, making their operations more efficient. Looking forward to working together!
Full article here.
Connected Places Catapult selected Cargo stream for the Maritime program
Connected Places Catapult selected Cargo stream for the Maritime program – the UK's innovation accelerator for cities, transport, and place leadership.
The selected companies are developing technologies that address challenges in the sector. The areas of focus were identified by the programme partners:
- DP World Southampton
- Maersk
- Port of Tyne
- Serco
- The National Shipbuilding Office
- The University of Plymouth
- Houlder
These partners have recently been joined by the Royal Navy.
Catapult is a network of world-leading technology and innovation centers established by Innovate UK. It delivers impact across the UK economy, enabling businesses to thrive in global markets.
Introducing the New Cargo Stream App on the Apple App Store!
Dear Cargo Stream followers and community, we are thrilled to announce the much-anticipated arrival of the Cargo Stream app on the Apple App Store! Our team has been working tirelessly to bring you a seamless and innovative solution for all your freight management needs. Whether you're a logistics aficionado or a supply chain professional, this app is designed to streamline your operations and enhance your efficiency.
Key Features:
- Global Connectivity: With a user-friendly interface and multilingual support, Cargo Stream bridges the gap between international partners, making communication smoother than ever.
- Collaborative Platform: Enhance collaboration with your team and external stakeholders through instant updates, notifications, and shared access to real-time data.
- Real-time Shipment Tracking: Keep a close eye on your shipments from origin to destination, ensuring you're always in the know about their progress.
- Data Analytics: Make informed decisions with the help of in-depth data insights and analytics, enabling you to optimize your supply chain strategies.
Join us on this exciting journey as we redefine the way freight management is done. Your feedback is welcome!
Feel free to reach out with any questions, feedback, or success stories – we'd love to hear from you!
Check out our new App.
Cargo Stream Secures 1M Euro Expansion Capital from Private Equity Firm, LitCapital
Cargo Stream closed a 1M Euro investment led by LitCapital, a private equity firm. This significant milestone represents a major boost for Cargo Stream and sets the stage for our ambitious expansion plans in the logistics industry.
"Based on the current financial projections, our revenue is expected to exceed €2 million. However, our objective for this year is to achieve €3 million in revenue. This investment will allow us to accelerate our plans for expansion in Poland and enhance our operations in the UK, where we already have a presence."
The investment from LitCapital validates our immense potential and positions us for even greater success. With their extensive experience and impressive track record in supporting promising startups, LitCapital is the perfect partner to help us drive our growth and market expansion strategies.
Our vision at Cargo Stream is to improve customer efficiency through digital transformation while creating value solutions and enabling better control of the supply chain.
About LitCapital: LitCapital is an independent growth capital fund dedicated to investing in high-growth companies in the Baltic region.
Read more here.
Cargo Stream Launches Cloud-Based Platform for Logistics; Digitizing over 1000 Freight Forwarding Companies
Cargo Stream is announcing the launch of their cloud-based platform that enables freight forwarders to manage their logistics on a single digital platform.
Birmingham, England--(Newsfile Corp. - June 8, 2023) - Cargo Stream is announcing the launch of their unique cloud-based platform that enables freight forwarders and shippers to manage logistics on a single digital platform.
The platform has been designed to streamline the often fragmented process involved in the logistics sector. The platform automates logistics communications with notifications, alerts, and in-order messages. This replaces the confusion of sorting through emails, calls, and Excel sheets. The use of the platform enables shippers, forwarders, and carriers to seamlessly connect to one another. It can be used via desktop or mobile app. Freight forwarders can manage the logistics in-platform and shippers can manage their logistics in the same place.
When using the platform, logistics companies no longer have to deal with the hassle of having multiple windows open on a computer. They can place and manage orders all in one place. Cargo Stream is highly beneficial to forwarders in the logistics industry. The software connects the forwarders with the shippers, and all movement management, communication, and file sharing all happen in one shared workspace. Cargo stream helps traditional freight forwarders to become digital, bringing them into the modern age.
The digital platform will save logistics companies large amounts of money because of the connection it provides to all the lines of the process. Other digital platforms only connect certain departments to each other, which leads to platforms being created that are tailored specifically to those areas of logistics. The streamlined connection of all aspects of logistics to the platform will enable companies to increase their profits. This is due to operations becoming easier to manage which allows for more orders and products to be shipped and received.
The Cargo Stream platform is setting a new standard that shows how the logistics industry can attain a higher level of productivity while increasing its profits. Higher productivity benefits not just the logistics companies but the general public as well. With the implementation of the platform, communities will receive vital goods and products that are necessary to thrive. This also bolsters economies where the platform is being utilized.
The article was published in Business insider. Full article here.
1𝐬𝐭 𝐅𝐫𝐞𝐧𝐜𝐡-𝐁𝐚𝐥𝐭𝐢𝐜 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐅𝐨𝐫𝐮𝐦
Together with the French Foreign Trade Advisors, and thanks to their support, as well as the support from Devoteam, the 𝐁𝐚𝐥𝐭𝐢𝐜 𝐜𝐨𝐦𝐦𝐢𝐭𝐭𝐞𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐅𝐫𝐞𝐧𝐜𝐡 𝐅𝐨𝐫𝐞𝐢𝐠𝐧 𝐓𝐫𝐚𝐝𝐞 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬 led by Franck de Bruyn and the Chambre de Commerce France-Lituanie | French Lithuanian Chamber of Commerce - CCFL represented by its board of directors and Guillaume DOUVILLE ▪️ CCI France Lithuania 🇫🇷🇱🇹, the director, the French Lithuanian Business Community is proud to announce the 1st French Baltic Business Forum which will focus on 3 main topics:
3 main topics: 🚆 #Railway •⚡ #EnergyMix • 🚚 #Logistics
Where / When ?
Radisson Blu Royal Astorija • 13th of April, 2023
So far, we already have close to 130 people registered coming from France, Poland, Lithuania, Latvia, Estonia, Finland, Germany...
This event is an excellent opportunity to learn about those topics as well as network with people interested in the same topics.
I'll have the honor to be the moderator of the round table about the Logistics where we'll speak about this key sector for the Baltic States' economies, its recent evolution and its place in the European #supplychain.
During the round table, Silvija Supranavičiūtė [Integre Trans - Transportation & Freight Forwarding Services], Sarunas Belickas [Cargo stream], Frederic Janik [GEODIS], saulius kazakevicius [CMA CGM], Mindaugas Skuncikas [LTG Cargo] and Thomas Ribalet [Transimeksa] will share their insights about these topics:
- Trends in the road sector in 2023: preferred routes and regulatory constraints
- Employment, recruitment status
- Intermodality and development / use of rail / road infrastructures.
- New communication tools
At this occasion, Marius Skuodis, Minister of Transports & Communications, Marius Vaščega, EU representative in Vilnius, Her Excellency Alix Everard, French Ambassador to Lithuania & Alain BENTEJAC, President of the French Foreign Trade Advisors will also deliver an opening speech.
Thanks again to our sponsor & newest member at the Chamber : #devoteam.
Thanks also to all sponsors & partners involved : 𝐅𝐫𝐞𝐧𝐜𝐡 𝐅𝐨𝐫𝐞𝐢𝐠𝐧 𝐓𝐫𝐚𝐝𝐞 𝐀𝐝𝐯𝐢𝐬𝐨𝐫𝐬 • 𝐅𝐫𝐞𝐧𝐜𝐡 𝐋𝐢𝐭𝐡𝐮𝐚𝐧𝐢𝐚𝐧 𝐂𝐡𝐚𝐦𝐛𝐞𝐫 𝐨𝐟 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 • 𝐅𝐫𝐞𝐧𝐜𝐡 𝐄𝐦𝐛𝐚𝐬𝐬𝐲 𝐢𝐧 𝐋𝐢𝐭𝐡𝐮𝐚𝐧𝐢𝐚
