project44 Launches World's First Port Intelligence Solution
With ocean logistics in turmoil, project44 introduces real-time insights on all the ports in the world dramatically expanding its ocean visibility offering
Chicago, IL /PRNewswire/ - project44, the leading supply chain visibility platform, today launched Port Intel, the industry's first port intelligence solution with real-time data on congestion and container flow at all global ports. The platform provides shippers, LSPs (Logistics Service Providers), FFW (Freight Forwarders) and other stakeholders with what they need to manage and mitigate the impacts of today's ocean turmoil and chaotic supply chains.
With seemingly endless disruptions, from the Suez Canal blockage to port bottlenecks, companies and customers alike have gained a higher awareness of international shipping challenges and the need for real-time intelligence data. When the Russia/Ukrainian conflict emerged, project44 data showed a 52% increase in export dwell times from Ukraine and an immediate 40.2% drop in daily peak TEU vessel capacity calling at Russian ports. Similarly, vessels waiting near Yantian spiked by 44.1% when the most recent COVID-19-related lockdown took effect in Shenzhen. These ongoing supply chain challenges require companies to stay nimble and prepare contingency plans by utilizing real-time port data.
"Port bottlenecks, COVID-19 lockdowns, and sourcing changes driven by war in Ukraine have made it difficult for shippers to stay on top of their supply chains," said Jett McCandless, Founder & CEO of project44. "To help our customers meet these challenges, we've enhanced what was already the world's most advanced ocean visibility suite. Our customers have never been better positioned to identify and mitigate supply chain obstacles."
Port Intelligence, including Congestion Data on All Global Ports
project44's Port Intel, the first of its kind, addresses a blind spot hurting shippers worldwide: lack of visibility into port congestion. Port Intel delivers access to global port and vessel-level detail powered by proprietary data and analytics. These real-time insights allow companies to proactively keep on the pulse of supply chain disruptions, black swan events and their impact on terminal operations and the resulting shipment delays.
With Port Intel, shippers and LSPs can see port congestion in a visual interface as well as receive data via an API-- enabling them to circumvent bottlenecks, plan better and meet customer expectations. The platform can provide highly accurate vessel and container-level dwell times, vessel counts, and other port congestion analytics. With this quantity of data, users are able to proactively spot trends, benchmark, and compare various ports—enabling shippers to make better decisions about how to avoid delays, increase on-time delivery, and improve customer transparency.
project44's algorithms offer visibility unmatched by any other provider: granular location of 11,800 berths, globally, down to 20-meter precision. And beyond shippers and LSPs, Port Intel is already being utilized by global consultancies, financial institutions, and IT providers to better understand market conditions.
What Our Customers Say
"We have invested greatly in managing ocean disruptions and project44's partnership, innovation, speed to value, ETAs, onboarding, ocean visibility and port intelligence are tremendously helpful for our business and the customers we serve," said Charles Cunnion Vice President, Global Transportation at International Forest Products.
"With our customers and partners always bracing for the next supply chain disruption, having port intelligence is a massive edge. It's the type of data solution that our team will use daily," said JR Ferry, Director of Transportation and Logistics at ATEC Systems. "We're thrilled to see improvements across an ocean visibility suite that was already best-in-class. Project44 continues to deliver more supply chain visibility where it counts most."
"As a progressive Forwarder, we're always on the cutting edge of data and technology," said Mike May of Air & Sea International. "By using Port Intel, by project44, we deliver our shipper customers with the most real-time data and analytics on global port congestion to proactively avoid and manage disruptions."
To learn more about project44's Port Intel, visit project44's website.
project44 is on a mission to make supply chains work. As the supply chain connective tissue, project44 operates the world's most trusted end-to-end visibility platform that tracks more than 1 billion shipments annually for over 1,000 of the leading brands, including top companies in manufacturing, automotive, retail, life sciences, food & beverage, and oil, chemical & gas. Using project44, shippers and carriers across the globe drive greater predictability, resiliency and sustainability.
The undisputed leader in the market, project44 was named the Leader in the Gartner Magic Quadrant, #1 in FreightWaves FreightTech 2022, the Customer's Choice in Gartner Peer Insights Voice of the Customer report. project44 is headquartered in Chicago with a diverse team spanning 17 global offices. To learn more, visit www.project44.com.
Source: project44Copyright 2022 PR Newswire. All Rights Reserved