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Project44 Introduces World's First Port Intelligence Solution
Fremont, CA: project44, the leading supply chain visibility platform, has launched Port Intel, the industry's first port intelligence solution with real-time data on congestion and container flow at all global ports. Shippers, LSPs (Logistics Service Providers), FFWs (Freight Forwarders), and other stakeholders can use the platform to manage and mitigate the effects of today's ocean turmoil and chaotic supply chains.
With seemingly interminable disruptions ranging from the Suez Canal blockage to port bottlenecks, companies and customers alike have become more aware of international shipping challenges and the need for real-time intelligence data. When the Russia-Ukraine conflict erupted, project44 data revealed a 52 percent increase in export dwell times from Ukraine, as well as a 40.2 percent drop in daily peak TEU vessel capacity calling at Russian ports. Similarly, when the most recent COVID-19-related lockdown in Shenzhen went into effect, the number of vessels waiting near Yantian increased by 44.1 percent. These ongoing supply chain challenges necessitate companies to remain agile and prepare contingency plans through the use of 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," stated 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
The first of its kind, project44's Port Intel, addresses a blind spot affecting shippers globally: a lack of visibility into port congestion. Port Intel provides global port and vessel-level detail based on proprietary data and analytics. These real-time insights enable businesses to stay ahead of supply chain disruptions, black swan events, and their effect on terminal operations and resulting shipment delays.
Shippers and LSPs can use Port Intel to see port congestion in a visual interface and receive data via an API to avoid bottlenecks, plan better, and meet customer expectations. The platform can provide precise vessel and container-level dwell times, vessel counts, as well as other port congestion analytics. With this volume of data, users can proactively identify trends, benchmark, and compare different ports, allowing shippers to make better decisions about avoiding delays, increasing on-time delivery, and enhancing consumer transparency.
The algorithms of project44 provide visibility unrivaled by any other provider: granular location of 11,800 berths worldwide, down to 20-meter precision. Port Intel is already being used by global consultancies, financial institutions, and IT providers to better understand market conditions, in addition to shippers and LSPs.