FourKites launches new AI-based Dynamic ETA® for Ocean Shipping
Category: #technology  By Pranali Mehta  Date: 2021-10-21
  • share
  • Twitter
  • Facebook
  • LinkedIn
FourKites launches new AI-based Dynamic ETA® for Ocean Shipping

FourKites, one of the world's leading real-time supply chain prominence platforms, has introduced an innovative industry-first AI-powered Dynamic ETA® for Ocean, as part of its Dynamic OceanSM contribution.

As per sources, the new addition offers 3PLs, shippers and carriers with the most precise ETAs (estimated times of arrival) for complete ocean shipments across the globe.

With this launch, FourKites will be offering new capabilities for monitoring and lowering demurrage and detention risks. Furthermore, the company can now provide the most innovative and robust solutions in the market for predictive and real-time ocean visibility, exception management and cost controls.

These new powerful tools were designed in direct response to the constant disruptions in ocean shipping which have delayed shipment, causing fees and related expenses to be high.

Some of the common challenges ocean shippers face during normal times are port congestion, vessel delays, and incorrect or incomplete documentation.

Port shutdown, container shortage, natural disasters, and other recent incidents like COVID-19 have worsened this situation and have increased demurrage and confinement fees that are reaching thousands of dollars per container per day and can rise to millions of dollars in annual transportation cost for shippers.

The new Dynamic ETA for Ocean from FourKites delivers automated, real-time, and predictive ETAs 20% to 40% more exact than carrier-generated ETAs.

This new AI-driven competence is grounded on FourKites' Smart Forecasted Arrival technology. It conveys together voyage and routing data and more than 5TB of historical AIS (Automatic Identification System) vessel data and 6 million port-to-port trips across 100,000 lanes globally.

In addition, FourKites has launched a new suite of demurrage and detention solutions that give clients an early warning solution and actionable analytics, replacing most shippers' manual and spreadsheet-based techniques.

Source Credit - https://www.businesswire.com/news/home/20211019006198/en/FourKites-Expands-its-Market-Leading-Ocean-Visibility-Platform-with-Industry-First-Dynamic-ETA%C2%AE-for-Ocean-Shipping-and-New-Tools-to-Manage-Demurrage-and-Detention

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Volkswagen’s plans to build 6 battery cell plants could cost USD 34 Bn
Volkswagen’s plans to build 6 battery cell plants could cost USD 34 Bn
By Pranali Mehta

German automaker Volkswagen AG is expecting the cost of its European battery plants as well as other raw material procurement to be around USD 34 billion. Confirming the news, Thomas Schmall, one of the Board Members, was quoted saying that the comp...

Infinity Energy to develop new facility for solar EV charging solutions
Infinity Energy to develop new facility for solar EV charging solutions
By Pranali Mehta

California based solar energy firm, Infinity Energy has recently announced its plans to deploy a new facility dedicated to the production of solar-powered EV charging stations. Governor’s Office of Business and Economic Development stated that...

U.S. CDC suggests booster shots for all adults amid Omicron concerns
U.S. CDC suggests booster shots for all adults amid Omicron concerns
By Pranali Mehta

The U.S. Centers for Disease Control and Prevention (CDC) recently said that all adults aged 18 and above should get a COVID-19 booster shot six months following the second dose of BioNTech Moderna or Pfizer vaccine, or two months after the single do...