New port agency launches in Singapore

Singapore: A new shipping agency, Wave Shipping, has launched in Singapore.

Lars Rosenkrands, founder and ceo of Wave Shipping, said: "We are making a bold promise; to bring change to an industry that is traditionally averse to changes. Our goal is to provide a significantly improved customer experience in port agency by combining a truly competent and experienced team with a unique approach to digital information delivery, which offers a higher level of convenience, transparency and service consistency for clients and partners."

Wave Shipping has adopted a flat organisation structure with the aim of facilitating “a culture of transparency, empowerment and performance”, the firm said in a release.

"Limitations brought about by bureaucratic red tape will no longer be a concern; this structure calls for independent decision-making and brings about more efficient and client-focused solutions. It also increases the agency's involvement in the clients' business progress and development – becoming an effective partner in assisting clients with challenges instead of actions based on top-down instructions," Rosenkrands said.

Wave Shipping has integrated a client-facing application into its IT system, which allows real-time access to reports and data for port operations and cost accounting.

"Currently, what we see is a highly fragmented industry with thousands of relatively small agencies and with the four global agencies having a combined market share of less than 15 percent by volume of port calls handled. There is an opportunity to consolidate the industry, improve the overall customer service competency and eliminate bureaucratic inertia in the market. With highly differentiated service levels and efficient business processes, Wave Shipping will be able to fill the gap by providing an unprecedented level of customer-oriented services in the industry," said Rosenkrands.

Wave Shipping has offices in Australia and Singapore that are now in operation. The agency has plans to expand its operations in the Middle East and other parts of Asia later this year. Its target is to establish presence in 20 countries over the next three years and acquire a more significant market position with 13,000 to 14,000 port calls a year within five years. [02/09/14]

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