LONDON — April 2021 — FourKites®, the market leader in real-time supply chain visibility, announces its acquisition of Haven, Inc., and introduction of Dynamic OceanSM, a next-generation visibility solution that redefines end-to-end management for international ocean shipments. The solution integrates advanced document management capabilities, robust collaboration features and support for bookings, with superior end-to-end real-time tracking. Benefits of Dynamic Ocean include expedited flow of goods through busy ports; significantly reducing detention and demurrage costs; and improved customer satisfaction.
FourKites’ Dynamic Ocean solution builds on technologies gained through its acquisition of Haven, a well-established leader in international ocean shipping, document management and tracking. “Haven is thrilled to bring our team and expertise in SaaS, supply chain and ocean tracking to FourKites, a company that pioneered real-time freight visibility and that shares our vision for more automated, collaborative supply chains,” said Brad Klaus, CEO at Haven. “There is nothing like Dynamic Ocean in the market. It is a true game-changer for organizations that ship internationally via ocean.”
Dynamic Ocean covers 99% of global container traffic and more than 750 ports, providing unprecedented visibility into ocean shipments. Comprehensive APIs enable data sharing between Dynamic Ocean and other critical shipper systems including TMS and ERP platforms. Major product capabilities include:
- Advanced document management and collaboration features help shippers manage the complex and copious documentation requirements of international shipping, and collaborate with all parties involved in a container move.
- Real-time messaging tools organized around shipments and workflows replace emails and manual processes
- Automated templates trigger tasks, set permissions, and prepare documentation, including purchase orders, bills of lading, courier instructions and packing lists, among many others.
- Trading partners can collaborate in a secure cloud-based digital hub that contains all critical international shipping documents.
- Superior tracking capabilities leapfrog first-generation screen-scraping techniques to capture more data via multiple sources and with far greater accuracy. Dynamic Ocean sources data from:
- Direct integrations via EDI 315 and APIs with all of the major ocean carriers
- Real-time Automatic Identification System (AIS) data through vessel transponders
- Schedule data across 270,000 ocean lanes, 120 carriers, and 3000+ services
- Terminal data across 100% of terminals in North America and major terminals in Europe
- Dray Carrier Integrations for true multimodal connectivity
- Visibility into bookings via custom APIs with existing transportation management systems (TMS).
- True end-to-end tracking that links ocean to rail, air, over-the-road and yard.
- Deeper insights and analytics with ocean-specific reporting on on-time performance, cycle and transit times, detention and demurrage, and more.
“The documentation requirements, rate management and bookings in international ocean shipping are massive and complex — and when not managed quickly and efficiently, are a major cause of unbudgeted costs and unhappy customers,” said Charlie Cunnion, Vice President, Global Transportation at International Forest Products LLC (IFP). “FourKites’ Dynamic Ocean solution will be a game-changer for IFP. It will further distinguish us from our competition by enabling us to provide customers with transparent shipping schedules and timely documentation, while also providing near real-time visibility into order statuses. This platform mitigates detention and demurrage risks, and will deliver a seamless experience for our customers.”
In a recent Haven survey of 160 senior ocean supply chain leaders, 60% cited their need for better document management, and more than 40% said they intend to upgrade their systems by investing in the further digitalization of their international processes.
“Ocean shipping is extremely complex, with at least six different parties touching a single container, and cumbersome documentation workflows that can account for upwards of 70% of detention and demurrage,” said Mathew Elenjickal, founder and CEO of FourKites. “Together with Haven, we are proud to introduce new end-to-end ocean capabilities that have been sorely lacking in the industry, and that are now mission-critical to effective management of ocean shipments.”
Click here for more information about Dynamic Ocean.