Maersk welcomes $8 billion Suez Canal expansion
As the largest customer of the Suez Canal with more than 1,400 transits in 2014, the Maers...
As the largest customer of the Suez Canal with more than 1,400 transits in 2014, the Maersk Group welcomes the expansion of the Suez Canal and the advantages it entails.
Egypt has all through the 20th and 21st century acted as the bridge between Europe and Asia thereby enabling global trade and growth. From 2004 to 2014 container volumes transported via the Suez Canal has grown around 70 percent and the expansion confirms the Suez Canal Authority’s continuous commitment to accommodating growth in trade. Maersk Group representative and CEO of Maersk Drilling, Claus V. Hemmingsen will participate in the official opening of the Suez Canal today along with COO of Maersk Line, Søren Toft.
Hemmingsen said: “The Suez Canal is a key corridor on the East/West trade. Maersk has used the corridor for more than 90 years and we welcome the easier transit and reduced transit times that the new expansion will bring.
“The extension will enable larger vessels to transit, benefitting not only the shipping companies, but also our partners and world trade as a whole”
The Suez Canal accounts for roughly 7.5 percent of world sea trade and container vessels account for over 50 percent of the canal’s tonnage passage. Maersk Line contributes with 20 percent of the container transits, and virtually all Maersk Line’s Asia-Europe cargo goes through the Canal. This includes everything from Chinese textiles and Indian Basmati Rice to German machinery or French wine passing through the Suez Canal.
Prior to the extension, the southbound transit took 18 hours and the northbound took 11 hours. After today’s opening of the extension, both ways will only take 11 hours. With the current expansion the next generation of vessels should also be able to transit safely and without delay.
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“The development in the number of transits through the canal underscores the need of having a canal that guarantees quick passage both ways and helps relieve bottlenecks, accommodating growth in trade and vessel sizes – an effort we welcome from all our partners and suppliers.” concluded Hemmingsen.
For more information, please visit: http://www.maersk.com/en/the-maersk-group/press-room/press-release-archive/2015/8/maersk-welcomes-suez-canal-expansion
Pandora and IBM digitise jewellery supply chain
Pandora has overhauled its global supply chain in partnership with IBM amid an ecommerce sales boom for its hand-finished jewellery.
The company found international success offering customisable charm bracelets and other personalised jewellery though its chain of bricks and mortar retail destinations. But in 2020, as the COVID-19 outbreak forced physical stores to close, Pandora strengthened its omnichannel operations and doubled online sales.
A focus on customer experience included deploying IBM’s Sterling Order Management, increasing supply chain resiliency and safeguarding against disruption across the global value chain.
Pandora leverages IBM Sterling Order Management as the backbone it its omnichannel fulfilment, with Salesforce Commerce Cloud powering its ecommerce. Greater automation across its channels has boosted the jeweller’s sustainability credentials, IBM said, streamlining processes for more efficient delivery. It has also given in-store staff and virtual customer service representatives superior end-to-end visibility to better meet consumer needs.
Jim Cruickshank, VP of Digital Development & Retail Technology, Pandora, said the digital transformation journey has brought “digital and store technology closer together and closer to the customer”, highlighting how important the customer journey remains, even during unprecedented disruption.
"Our mission is about creating a personal experience and we've instituted massive platform changes with IBM Sterling and Salesforce to enable new digital-first capabilities that are much more individualised, localised and connected across channels and markets,” he added.
Pandora’s pivot to digital
The pandemic forced the doors closed at most of Pandora’s 2,700 retail locations. To remain competitive, it pivoted to online retail. Virtual queuing for stores and virtual product trials via augmented reality (AR) technology went someway to emulating the in-store experience and retail theatre that is the brand’s hallmark. Meanwhile digital investments in supply chain efficiency was central to delivering on consumer demand.
“Consumer behaviour has significantly shifted and will continue to evolve with businesses needing to quickly adapt to new preferences and needs,” said Kareem Yusuf, General Manager, AI Applications and Blockchain, IBM. “To address this shift, leading retailers like Pandora rely on innovation to increase their business agility by enabling and scaling sustainable supply chain operations using AI and cloud.”
Yusuf said Pandora’s success was indicative of how to remain competitive by “finding new ways to create differentiated customer experiences that protect their enterprises from disruptions to help mitigate risk and accelerate growth”.