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74% of Freight forwarders from Asia affirm market opportunity for Shipper owned containers in the region

As the container logistics industry prepares for the year 2023, evident changes are being seen in its container sourcing strategy, diversifying the risk and having lesser dependence on linear supply chains being one of the top priorities. 
 
Three-Fourth of respondents from Asia affirms that using Shipper Owned Containers adds to resilience in their container-sourcing strategy whereas, the market opportunity for SOCs is recognized by 74% of freight forwarders as per a recent survey conducted by Container xChange.
 
This growth in acceptance for Shipper-owned Containers has been triggered by market uncertainties caused by supply chain crises globally over the past two years which has created a thriving environment for Shipper owned containers globally. 
 
Backed by a case study of Pudong Prime's expansion in the Vietnam market, here is a strong case ofhow the SOCs market is growing a competitive edge over COCs.
 
We hope that you find this release useful and as always, would like to request you if you have any more questions on this topic and broadly anything about the shipping and container industry. 
 
We shall be very happy to assist. 
 
Container xChange Market Survey Insights
 
74% of Freight forwarders from Asia affirm market opportunity for Shipper owned containers in the region: Container xChange Survey 
 
·Three-Fourth of respondents from Asia affirm that using SOCs add to resilience in their container-sourcing strategy; companies plan to use more SOCs in the year 2023 
·Shipper-owned Containers offer a competitive advantage over Carrier-owned Containers with low pick-up charges and Demurrage & Detention charges 
·Pudong Prime, a freight forwarder based in Vietnam, started getting a lot of requests for SOCs in Vietnam which led to market expansion for the company in the country 

Hamburg, Germany, 05 December 2022: 
 
The market opportunity for Shipper-owned containers (SOCs) is recognized by 74% of freight forwarders as surveyed by Container xChange. Pudong Prime, a freight forwarder from Asia recently experienced exceptional demand for SOCs from Vietnam. Recognizing the opportunity, Pudong Prime ventured into expanding its market in Vietnam leveraging the digital operational support of Container xChange, an online container logistics platform. 
 
Growth in acceptance for Shipper-owned Containers has been triggered by market uncertainties caused by supply chain crises globally over the past two years. This created a thriving environment for Shipper owned containers globally. Asia developed as a key market for SOCs, according to the analysis by Container xChange. 
 
Pudong Prime, an international freight forwarding company, with a key focus on SOCs, observed that freight forwarders and shippers are increasingly identifying the competitive advantage of SOCs over COCs with their low pick-up charges and D&D charges. 
 
Commenting on the newfound opportunity in the SOCs market, Wilson Le, Marketing Development Strategy, Pudong Prime said, “We have gained a competitive advantage with SOCs as compared to the high detention charges and equipment shortage associated with COCs. We’ve achieved a cost advantage due to the lower pick-up charges with SOCs compared to COCs.” 
 
Christian Roeloffs, Co-Founder and CEO of Container xChange, said, “The rise in awareness for SOCs shows that industry participants are responding to the supply-chain pressures by diversifying their sourcing strategy. Lack of transparency and standardized digital processes has fueled inefficiency for a very long time in the logistics industry. These struggles are further worse for shipper-owned containers where no carrier takes care of processes. This hinders the adoption of SOCs in the market. With the adoption of digital tools, all of this could be streamlined in a manner that there is a standardized procedure for all users.” 
 
Container xChange has helped Pudong penetrate by simplifying its operations and contributing to a better business flow, explained, Wilson Le Marketing Development Strategy, Pudong Prime, “Our aim was to limit unforeseen situations with SOC operation at both the origin and destination to avoid bad trips. And with Container xChange’s real-time Connect tool we achieved just that and gained more operational control.” 
 
“We were able to proactively connect with numerous affiliated inland depots to coordinate the leasing pick-up and drop-off locations. This reduced many unforeseen errors and setbacks. “, he added. 
 
In half year, Pudong Prime has made 16 new partners and leased 659 containers to 18 locations in North America and Canada and continues to grow the volume of containers leased through the Container xChange platform. 

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

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