Ocean freight rates benchmarking and market intelligence platform Xeneta plans to expand its price reporting product into the airfreight market, with Xeneta CEO Patrik Berglund saying that “real-time intelligence, understanding and visibility,” were the key to tackling market volatility.
Xeneta gathers the real-time global shipping data from a community of over 700 businesses, covering more than 160,000 port-to-port pairings and over 35 million contracted rates. The company says that their platform allows users to “track trends and stay on top of market developments, getting the very best rates for their assets.”
It’s a model Xeneta believes will work just as well in the aviation segment, but they certainly aren’t the first company in the arena. Their edge, the company says, is their extensive maritime experience, and deep logistics-sector penetration.
“There is a clear market demand for a benchmarking tool enabling the industry to get optimal value from airfreight rate negotiations,” said Berglund. “The sector is equally, if not even more, unpredictable than that of ocean freight rates, with prices currently skyrocketing due to lack of capacity and increasing e-commerce demand, among other factors.”
Xeneta for airfreight is now at the prototype stage, with a full launch scheduled for Q2 2018.