GoCargo.com Establishes 24-Hour Global Trading Floor

Friday, June 02, 2000
its online B2B exchange has reached 6,000, consisting of approximately 5,000 shippers (exporters/importers) and approximately 1,000 service providers (carriers and intermediaries).

GoCargo.com's team of 20 international traders are operating 24 hours a day, five days a week, offering local decision makers from Tennessee to Hong Kong the ability to bid on and book shipments online with the personal assistance of GoCargo.com account managers who speak numerous languages, such as Mandarin, Korean and German. The new exchange at Broadway and Wall Street is bringing 21st century trading concepts to the tradition-bound shipping industry, with real benefits to both the buyside and the sellside: saving as much as 40% on shipping contracts for the shippers, and filling excess capacity on trans-ocean shipments for the carriers.

The trading desk is managed by Marc Rappaport, Vice President of Trading and Operations, who was formerly a senior vice president of Prudential Securities and a financial advisor at Shearson Lehman Hutton.

GoCargo.com, founded in July 1999 by Chairman/CEO Eyal Goldwerger, launched its Web site last November and closed a second round of financing in February 2000 led by Goldman Sachs Group Inc.

"Although price is most often the determining factor in a shipper's decision, other factors such as quality of service, timing of shipments or specific fulfillment issues can take precedence," Mr. Goldwerger notes.

"With 1,000 service providers in the system, GoCargo.com gives shippers real choices along with savings and convenience. Our account managers continuously interview shippers to ascertain their commitment levels and determine how 'real and ready' their shipments are," Marc Rappaport explains. "We know the cargo is actual and available, and the carriers are qualified. This is another service GoCargo.com provides that customers recognize as a real advantage."

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Safety the Focus as Heavy Lifting Picks Up

Modern heavy lift capabilities are crucial for safe, efficient operations offshore Heavy lift operations offshore are an awe-inspiring feat, but an operation that

Azeri Shipyard, BP Sign Vessel Construction Contract

Azeri state energy company SOCAR's shipyard and British oil major BP have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project,

BP Gulf Spill Trial Set For January

The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1288 sec (8 req/sec)