Container Tracking is one such latent area of growth. Every stakeholder in the logistics industry is keen on knowing the status of their container movement from the source to the destination.
Often Forwarders and Transporters keep a track of the container movement through phone calls and other medium. However, all details they receive are still subjective and not in line with the actual status of the container movement.
The transformation of the container shipping industry is being shaped by the growth of e-commerce, digitalisation of supply chains and the development of automation technologies.
The growing containerized seaborne trade is expected to drive the market growth, per experts. And this rise in international containerized seaborne trade is giving rise to increased demand for container tracking and security systems. As per the projections by industry experts, the container tracking and security market is expected to register a CAGR of over 21% by 2022.
Container tracking and security solutions are software solutions for logistics service providers for the purpose of tracking, securing, and monitoring of containers during their transit across the globe. Such tracking systems enhance the traceability, efficiency, and security of the containers, thereby optimizing the supply chain’s performance. These solutions solve a variety of business challenges such as unavailability of real-time location of containers, lack of terminal visibility, delays due to heavy congestion at container terminals and lack of visibility of empty storage slots.
Here are some reasons why Container Tracking is the need of the hour in all major ports across the world
With Container Tracking, if a particular cargo is stuck at one end, the stakeholders can take steps to ensure that the real time status on the container reaches the shipper as well as the consignee on time. The consignee and the stakeholders in the destination port can plan their activities in advance.
Thwarts Cargo Theft
Cargo Theft is a major problem in every port especially in Europe, North America, and African regions. The major reason why cargo theft goes unnoticed at the first instance is because of the lack of container tracking. However, with a port community system enabling 24×7 container tracking, having a track of cargo movement within and outside the port ecosystem is not a major challenge at all.
Improves Cost Efficiency
Cost efficiency is the major factor when it comes to container handling. Especially in the port ecosystem without a proper handling of containers, there is a major possibility of skyrocketing detention and demurrage fees.
In the current times, there is a major increase in detention and demurrage fee and this is because of lack of first hand information on vessel arrival and pre-booking of containers. With the right information in hand, the dwindling detention and demurrage charges can be controlled.
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