Shipwaves, India’s first online marketplace for ocean freight, is changing shipping on the sub-continent.
According to Athahar Mohammed, co-founder of Shipwaves, the company has ramped up the technology platform to offer full stack digital solutions to the ocean freight industry in less than three years since its launch in 2015. The company achieved a year-on-year growth of 400% for 2017.
Currently Shipwaves’ presence has expanded to cover five port locations in India and it is in the process of establishing a Middle East presence in Dubai.
“The Indian ocean logistics industry has been rather slow in developing its own robust IT infrastructure integrating all stakeholders of the industry which continues to suffer from legacy issues of conventional business practices,” says Mohammed.
Mohammed reckons awareness about the economic benefits of using digital technology is low and collaboration among stakeholders is minimal. Moreover technological infrastructure remains inadequate, marked by slow network speeds, suboptimal performance – all leading to high costs and underperformance.
“Shipwaves being a digital freight forwarder is at the cusp of leading the change,” Mohammed claims.
Mohammed believes the exporters and importers are looking for a one-stop shop which can provide complete digital solutions to their container freight movement, and with emerging digital lifestyles, shippers are becoming more aware of the benefits of technology adoption and hence willing to leave legacy systems behind.
“Being a pan-India brand, and our presence in all major port locations, Shipwaves offers data driven decision making to shippers, making the transaction transparent, cost effective and driven by value creation,” says Mohammed.
Shipwaves recently launched an India-centric mobile app for shippers to accelerate its reach to the hinterlands.
“With the real time supply chain visibility and alerts on key exceptions, delays, rollovers, shippers can activate a contingency plan to mitigate any supply chain disruptions much ahead of the time,” Mohammed explains.
For the medium term development, Shipwaves plans to expand both horizontally and vertically.
“We are looking to expand to the Middle East and Southeast Asia in the coming year. We are also looking to provide a suite of supply chain visibility solutions for our high volume shippers. We want to be the digital enabler for global businesses to move goods seamlessly,” Mohammed concludes.