Do You Know the Financial Situation of Your Shipping Partner?

CMO @ Xeneta at Xeneta
Oct. 24, 2016

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Do You Know the Financial Situation of Your Shipping Partner?

  1. Do You Know The Financial Situation Of Your Shipping Partner?
  2. Join The Conversation On Twitter @XENETA_AS
  3. About Xeneta Container Freight Pricing Transparency With One Platform In Real Time & On Demand.
  4. Are You Paying The Right Container Freight Rates? Discover Savings Potential In Real Time. Contact Us.
  5. The downfall of Hanjin not only surprised a number of folks in the shipping industry, but also resulted in big shipment delays.
  6. 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.
  7. Financial status of partners remains a mystery
  8. 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.
  9. 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
  10. 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.
  11. It Pays To Be Informed
  12. 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.”
  13. 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.
  14. How “Healthy” Are The Container Vessel Operators?
  15. 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.
  16. Learn how Xeneta can help You get insight and intelligence into your global ocean freight prices and change your logistics business: Request Demo