Newsletter 16-Oct-2018
30cubits has been selected by Dubai Future Accelerators
300cubits is now in Dubai, one of the most exciting business hubs in the world. Dubai is the regional hub of shipping and logistics. The port facilities in Dubai had handled over 15M TEUs throughput in 2017 and currently ranks 9th in the world. 300cubits has recently been selected by the Dubai Future Accelerators, the start-up program organized by Dubai Future Foundation, to collaborate on projects. The Dubai government foundation aims to co-create the future with experts around the world.
The accelerator is a 9-week program where 2 staff members from 300cubits are stationing there. We are sponsored by Etisalat, the leading telecommunication provider headquartered in Abu Dhabi, which serves 11.6 million resident customers and over 300,000 large, medium and small enterprises and government customers in the UAE. 300cubits has been assigned to take up Etisalat’s Blockchain challenge to produce B2B solution to “reduce transactional cost and complexity in B2B processes between banks, government and private entities by 40% in 5 years through the use of Blockchain technologies.”
We intent to leverage on our knowledge and experiences in both shipping industry and in developing blockchain solutions to take up this challenge, in collaboration with Etisalat, Dubai Future Accelerator and Dubai government.
Booking Deposit Module
Zero “No Show” and zero “Rolling” so far
In our Booking Deposit Module’s brief history of operation and a small sample so far, we have not had one default case, i.e. all shippers who have placed booking deposit have shown up with cargo according to what they have booked and all the liners placed booking deposit have loaded the cargo according to what they have confirmed. The liners active in trying our solution usually match the booking deposit initiated by the shippers, demonstrating their intent to encourage the shipper community to place upfront deposit in bookings.
However, we had a couple of cases where the liner declined to match the booking deposit despite of a previously issued booking confirmation. Even in these couple rare cases, the shippers appreciated that our solution had allowed them to find out early that the booking confirmation they received was not backed by full loading commitment. Otherwise, the shippers would only find out their cargoes are being rolled few days after the vessel departure.
Transhipment hub loading assurance
A pair of shipper and liner use our solution to ensure loading at the transhipment hub. The shipper does not see loading assurance at the loading port offers much values because there are frequent feeder connection between the loading port and the transhipment hub, which is Singapore in this case. However, they do care about being loaded on the right mother vessel departing from Singapore. The carrier in this case is also willing to provide the loading assurance at the transhipment hub. So they have successfully run several pilot shipments using our Booking Deposit Module to assure the transhipment port loading.
The summer peak season is now fully behind us. We continue to find new users, i.e. shippers and liners interested in trying our solution while we encourage the existing users to ramp up their usage. For those potential users interested in learning our solution, please contact us at info@300cubits.tech.
