NEW YORK (May 23, 2018) – The Journal of Commerce (JOC), part of the Maritime & Trade business unit of IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced it will enhance its editorial content and event services to cover major technology disruptions that impact logistics companies, terminal operators, cargo owners, and shippers seeking to improve supply chain efficiencies and increase profitability.

Blockchain technology and its implications on the broader shipping industry, the impact of automation in cargo handling and logistics, and the potential of the Internet of Things (IoT) to reduce complexity and improve tracking of goods, are some of the technology themes to be explored in depth in future editorial content and JOC Event programs that engage directly with cargo owners and other players in the trade and logistics industries.

Taking the helm to drive content and collaboration with other industry-leading journalists at JOC.com and JOC Events is newly appointed senior technology editor, Eric Johnson, who joins IHS Markit after spending 12 years at American Shipper, bringing with him deep domain knowledge and conference expertise in moderating and speaking at major shipping logistics events around the world.

“There has never been greater potential than exists today for international trade, transportation and logistics to be transformed by technology,” said Peter Tirschwell, executive director of Maritime & Trade content at IHS Markit.

“Some of the newly identified content themes that Eric and the team will focus on will help our readers and conference participants break down, decipher, and comprehend the implications of blockchain, artificial intelligence (AI), IoT, robotics, additive manufacturing and other emerging technologies, which have the potential to greatly reduce, if not eliminate, the most chronic and costly inefficiencies that are holding back their businesses and the international supply chain.”

Major Content Themes

Blockchain traction in international logistics predicated on cost and standardization hurdles

Eric Johnson said: “Only when costs to overhaul an existing system are superseded by savings from blockchain applications will we see blockchain making an impact on the industry. Cost savings could come in the form of speedier and more efficient processes or a reduction in risk. Applications could manifest themselves in something as straightforward as easier-to-understand shipping and regulatory documentation submissions being made simpler, or as complex as reshaping the way trade finance between Beneficial Cargo Owners (BCOs), suppliers and logistics service providers (LSPs) is handled.”

Back office automation to transform relationships between BCOs and LSPs

Eric Johnson: “Automation of repetitive tasks is focused on eliminating manual entry of international logistics data, freeing up resources to tackle more complex issues. The wave of automation sweeping over global supply chains can be more strategic in nature as well. Supply chain software applications can be much more than just providing accurate, efficient data entry. They can be more prescriptive from a back office, operational and customer service perspective as well. Automation can empower companies at every step of the supply chain, allowing people to focus on more creative, strategic, revenue-driving and recovery-orientated positions.”

Collaborative communications platforms and deep-learning algorithms can change pace of how shippers move their freight

Eric Johnson: “Email, for all its benefits, doesn’t always sync with modern global supply chains. Broader use of collaborative tools to connect various parties associated with a shipment will be less static and shave valuable time and data obsolescence from the planning and execution of freight movement. People have the physical tools to manage shipments nearly anywhere in the world, but they often lack the software to truly execute or recover from disruptions. The newest generation of tools incorporates deep learning to translate the unstructured chatter generated by these platforms into structured, usable data.”

Freight-forwarding industry will not be disintermediated by technology

Eric Johnson: “The demise of freight forwarders has been long predicted through the decades. But don’t let the latest wave of logistics technology innovation fool you – forwarders, as an industry, aren’t going to disappear. Intense capital investments in logistics technology has focused some of the biggest forwarders in the world to become more digitally oriented and nimbler in innovating or embracing outside innovation. Another rush of yet-to-form logistics companies will emerge. Those who survive will make it to the next round of innovation, where machine learning will underlie yet more advancements in the service of shippers.”

Data integrity will become as important to shippers as much as price and service

Eric Johnson: “The two-dimensional parameters of the shipper-carrier, or shipper-LSPs relationships, have frequently been intruded upon by a third dimension (sustainability springs to mind). There is real sea change looming for LSPs, carriers and the logistics software industry. Shippers will begin to demand that data accuracy be commensurate with price and service, because data now underpins virtually every supply chain initiative. This will be a differentiator in a way that no other dimension aside from price and service has been before. International logistics will truly become three-dimensional.”

The introduction of new content and event services that looks specifically at technology developments in shipping logistics builds on a foundation The Journal of Commerce has established since being first published in 1827 in New York.

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