Sea cargo is a booming segment within the airline industry with a significant share of revenues. The challenges facing the industry are manifold especially lagging IT infrastructure upgrades. In the next two decades, Sea cargo is expected to go beyond thrice its current size, with greater revenue-generation opportunities.
The Sea cargo business is swiftly shifting focus from general cargo to highly specialised cargo verticals. In this evolving business scenario, traditional stakeholders of the air cargo industry will need to deploy data analytics and data mining technologies for creating bespoke products for cargo community. Port Community Systems bridge the gap with regards to standardisation of processes and technological needs of the Sea cargo value chain.
Most of the major ports across the
globe have Port Cargo Community Systems (PCS) for information
exchange between its various stakeholders. These structures constitute a
Single Window System for Trade. The Trade Facilitation agreement by the
World Trade Organisation aims to help make trade across borders (both
imports and exports) faster, cheaper and more predictable, while
ensuring its safety and security.