Senior Technology Editor

OOCL Logistics has partnered with the financial technology platform Stenn to offer shippers a trade finance product, the latest such solution to enter a market looking to capitalize on the difficulty shippers have in financing the goods they move across borders.&nbsp; The partnership will see OOCL Logistics, a third-party logistics provider (3PL) spun off when&nbsp;container line OOCL was sold to the COSCO Group in 2018, offer&nbsp;buyers and suppliers access to invoice-backed capital and payment services.&nbsp; The integration with Stenn will&nbsp;allow suppliers to receive payment from invoices within 72 hours of a shipment departing, while buyers will get better payment terms...

Development of trade finance tools for small and medium-sized shippers continues to grow, evidenced by OOCL Logistics launching a trade finance platform with fintech provider Stenn.

Logistics technology

Container lines

Forwarding

Supply Chain

OOCL Logistics joins growing group intrigued by trade finance potential

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The Federal Maritime Commission said its enforcement agency does not have a case against the ocean carrier over a congestion surcharge complaint from a shipper.  

If shippers found the post-IMO 2020 bunker fuel formulas confusing and misaligned across ocean carriers, just wait until they see the surcharges linked to Europe’s new emissions trading system, says analyst Lars Jensen.

Brokered LTL freight may be the first freight diverted away from Estes, and it may be harder for those transactional shipments to find alternate carriers. 

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