World Trade - December 2008 - (Page 24)

COVER STORY Hyundai Merchant Marine nologies. The company also aims to foster global human resources, achieve a high level of transparency throughout their business, and continue their efforts in the area of corporate social responsibility. No small order. When it comes to day-to-day operations, NYK is no slouch either. While strong in on-time deliveries, the company feels that port-to-port on-time performance is not really a competitive factor these days since all carriers offer about the same transit time and delivery schedules are competitive. Also, since a number of carriers now participate in consortiums, the transit times of NYK, Hapag Lloyd, OOCL and MSC are the same since they’re all sharing space on the same ship. In terms of ensuring customer value, NYK representatives say that visibility and communication of information to customers is one of their strongest value propositions. “We live in an information society. Knowledge of where your shipment is at all times is very valuable,” says NYK’s spokesperson. Globally, NYK has a substantial footprint, and the company endeavors to offer a consistent service package on a worldwide basis. “NYK’s Group Values—Integrity, Innovation and Intensity are shared by all regions,” says the company’s representative. At the end of the day, though, it’s ultimately people who provide the service and according to NYK, it is the company’s employees that make them a force to be reckoned with in the world of ocean freight. Hyundai Merchant Marine Hyundai Merchant Marine operates over 110 vessels and offers a worldwide global service network, diverse logistics facilities, and leading IT systems. This strong global footprint, coupled with world-class service makes Hyundai one of World Trade’s top performers. “This industry has transformed from a port-to-port 24 WORLD TRADE DECEMBER 2008 operation to point-to-point,” says Brian Black, Senior Vice President, Trade and Services, Hyundai Merchant Marine. That means that the demands on ocean freight providers have increased dramatically, not just for traditional services, but for expanded services as well. In today’s fast paced world, on-time performance and fast transit times are critical, particularly for high value commodities. According to Drewry Insights, a maritime consulting ﬁrm based in London that surveys the vessel on-time performance and schedule integrity, Hyundai has one of the highest on-time performance and vessel schedule integrity records of the ocean carriers in the Trans Paciﬁc trade lane (survey 2007-08). Regular performance reviews with customers and rapid response to concerns are hallmarks of Hyundai’s customer service. The company provides customers with access to customer service centers, and top quality terminal and vessel operations personnel who are available to solve problems. As a result, Hyundai’s customer relationships are cultivated around the globe, and are for the most part, long-term. The company has customers that have been with them for 15 years or more. “We are constantly building on our success because this business is a marathon, not a sprint,” says Black. “We must constantly review with our customers the changes in their order process, not only for new products, but also new origin and distribution points.” Black believes that customers are getting tremendous value from ocean freight companies. “I would challenge any other industry to match the value for dollar that today’s ocean carriers provide to customers.” Practices such as sharing vessels with partners to ensure full loads and vessel to minimize vessel operational expenses are common for Hyundai. In a highly competitive market, continuous improvement is a necessity. This is particularly true of the ocean

Table of Contents Feed for the Digital Edition of World Trade - December 2008

World Trade - December 2008 Contents The Promise of Peril The Current Reality with IP in China Supply Chain Watch Tradewinds Performance Partners: Awards of Excellence Managing With Mobility What 2009 Bodes for the Supply Chain Small Business Takes to Export Green is Here for Good Fast Fashion

World Trade - December 2008

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