Do You Know The Financial
Situation Of Your Shipping
Partner?

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The downfall of Hanjin not
only surprised a number of
folks in the shipping industry,
but also resulted in big
shipment delays.

As the now bankrupted container
operator looks to offload remaining
containers by the end of this month, we
asked social media friends if they know
the financial situation of their shipping
partners.

Financial status of partners
remains a mystery

Our unscientific survey found
that over half of the respondents
did not know the financial status
of their shipping partners while
33% indicated they knew and 9%
cited uncooperative partners.

How can the true financial health of
private shipping companies such as
mediterranean shipping company
be assessed? Also, are financial
health reports for oocl and uasc
credible? These being sample
highlighted company examples.
- Industry expert, Jason Kearney

Indeed, social
media and other
media is awashed
with questions of
who’s next to fall in
the shipping
industry. Like mr.
Kearney points out,
it’s not so simple
but when
determining one’s
supply chain
partners, it is
imperative to know.

It Pays To Be Informed

Incorporating supplier
financial risk
management into your
risk management plan
is usually a given. But,
as pierre mitchell of
spend matters writes in
a recent article, “supplier
financial risk
management only goes
so far. It does provide an
‘assurance of supplier,’
but it doesn’t
necessarily protect your
assurance of supply
from that supplier.”

What can one do to avoid another “Hanjin”? Besides establishing
and regularly reviewing a supply chain risk plan, it's important to
communicate on a regular basis with all of your supply chain
partners, end-to-end.
This is where true visibility comes into play. Technology is playing
a bigger role. Use it to help mitigate risks.
While you may know the particular shipping alliance that is
managing and booking your freight, it pays to find out exactly who
is moving it.

How “Healthy” Are The Container
Vessel Operators?

Beginning this week, we will
introduce a series of blog posts in
which we take a look at each
container vessel operator. We’ll
review financials, their pain points
and their strong points but most
importantly, we look forward to
hearing your thoughts as well.

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