The freight industry has just seen its first transaction settled via cryptocurrency.

Reports in Bloomberg on Tuesday (Jan. 23) said a transaction between a top Russian wheat shipper and Turkey was completed in bitcoin. The deal was part of the pilot testing of the blockchain-based payment system developed by Prime Shipping Foundation, which provides the logistics and freight market with a way to process payments and convert those transactions in and out of cryptocurrencies.

The transaction occurred as the global freight and logistics market explores the potential of blockchain and cryptocurrency to streamline transactions and the sharing of data across partners and throughout supply chains.

Jan. 2018

The circulation of vehicles with a Euro-modular configuration (also known as mega-trucks) on national roads is already authorized by Decree-Law no. 132/2017 on October the 12th.

Among the main arguments on the table to approve this measure are the desire to boost the sector competitiveness (some European Union countries already allow the circulation of this type of vehicles), as well as the increasingly recurrent use of 45 feet containers.

Mega-trucks can reach up to 25,25 meters in length.

Dec. 2017

Is your cargo protected? Here is a 4 step list of what to make sure that risks are mitigated:

1. Check your insurance coverage. First, you need to know the value of your cargo. Generally, anything worth more than $100,000 is considered high value. An all-risk shipper’s interest insurence policy can cover any insurance gaps in a shipment without the need for the shipper to prove liability. These insurence policies are fairly affordable: a $600 premium, for example, could get you up to $500,000 in coverage.

2. Use only reputable carriers. When working with a brokerage or a carrier, understand the process they have in place for selecting the best possible drivers and equipment. Ask for documentation/procedures whenever the operation is complex.

3. Know the load requirements. High-value loads often involve moving oversized or over-dimensional equipment. That means you may need to secure government permits and escorts to move the cargo properly.

4. Enlist a transportation partner. Transporting high-value freight is often complex and involves many different functions. A third-party logistics or transportation management company can serve as an all-in-one resource for procuring the carrier, helping with insurance, planning the route and keeping deliveries on schedule.

(We can help!! Please check our website: www.xcellogis.pt)

Jully, 2017

XCELLOGIS, Lda. has completed this month the 4th and last shippment of pieces for industrial furnaces destined for Russia. This last shippment took place in SInes port, being that the previous 3 were in Setubal port. Previous storage operations, transport, onboard loading, stevedoring and lashing were under XCELLOGIS responsability and once more completed with success! Special thanks to our client for trusting us and also thanks to our partners who performed well!!

May, 2017