Massachusetts instills its own cap-and-trade system to combat climate change, echoed by wide acceptance of corporate responsibility for the matter across the board. Tensions surrounding the political and economic crisis in Venezuela continue to heat up. Meanwhile technology is booming in the transportation industry with virtual reality, over-the-air software, and growing interest and research in blockchain initiatives.
Blockchain Container Technology: Mitigating the Headaches of Final-Mile Logistics
The blockchain is a decentralized database capable of accurate, real-time updates on every server in the chain. It allows all parties involved in a transaction to monitor the behavior of certain processes within their supply chain down to the very moment the transaction occurs. In terms of shipping containers, the most complicated portion of the overall movement is often in the final miles of the journey—after arrival at port. The implementation of blockchain technology could directly track every aspect of a transaction within a shipping network.
This innovative and relatively young technology presents three primary user advantages: speed, transparency, and security. Read more about the accessibility of blockchain technology on the IB Times. Recently IBM, one of the key advocates and innovators of the blockchain, and Maersk, the world’s largest container shipping company, are teaming up to test the tracking and document exchange capabilities associated with blockchain for specific lanes and commodities.
Updating live Customs clearance information seamlessly with container availability has the potential to greatly decrease wait times at port hubs, increase the quantity of drays, and reduce congestion in container terminals. Truck drivers also play a key role in information tracking, as they would have the ability to enter traffic conditions that would flow through the blockchain tracking system allowing ports to adjust staffing based on delays impacting inbound containers.
Essentially, optimizing port operations and allowing truck drivers to maximize their final-mile potential are the key benefits of this innovation as the industry sees it now.
In Other News
Truckload carriers with revenues of over $30 million had a 74 percent annualized turnover rate and smaller carriers had 66 percent. The trends may point to brighter days ahead for turnover, but a more useful statistic would be which drivers will leave, and why, to prevent it. Just as predictive analytics are helping fleets avoid equipment breakdowns as discussed in part 1, and accidents as reported in part 2 of this series, they can identify drivers who are the most likely to quit to stage an early intervention.
The Massachusetts Department of Environmental Protection released drafts of new rules designed to limit the state’s emissions of greenhouse gases causing climate change. Now up for public comment, the new rules direct the state to reduce methane leaks from natural gas pipelines, make 15,000 state-owned vehicles more efficient, and most notably to create a statewide cap-and-trade system for greenhouse gas emissions from power plants.
Asia would be the biggest beneficiary of any potential sanctions by the United States on Venezuela’s oil sector, said traders and analysts, as exports from the South American OPEC member could be redirected to the region, filling a vacuum left by producer supply cuts.
Although some politicians condemn rising GHG levels while other deny that global warming even exists, the consensus of the private sector is that if corporations don’t get on board with safe environmental practices now, they will quickly fall behind their competitors.
UPS announced its plans to incorporate virtual reality (VR) technology into its training program for new drivers, according to CNN. New drivers will reportedly not be allowed to step foot behind the wheel until they can successfully pass the new VR protocol.
The yearly tune-up to keep a vehicle operating at its peak may one day be a thing of the past. Instead, it will be done without even leaving the driveway. Automakers and truck manufacturers are racing to develop software update technology that wirelessly tunes the network of computers that control a vehicle’s operations.
Carnival Corp., a leisure travel company, has released its 2016 sustainability report as part of the launch of its new dedicated sustainability website. The report and complementary site detail the company’s sustainability efforts and the progress made in 2016 toward its 2020 sustainability performance goals, including its commitment to liquefied natural gas (LNG) as a marine fuel.
The North American Council for Freight Efficiency (NACFE) this week named the seven drivers who will pilot the trucks and tractors running in the Run on Less roadshow, a first-of-its-kind event intended to show off the fuel economy capabilities of modern trucking equipment.
Anglo American (AAL.L) is placing a contrarian bet on hydrogen fuel cell vehicles as it tries to squeeze more profit from its platinum reserves, but risks being left behind as rival miners look to cash in on battery-powered cars.