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Freight Buyers News

29 May 2013

Container Shipping Rates Continue to Plummet

Market average for 20ft container from Shanghai to Rotterdam (Photo: Xeneta)

Due to overcapacity & economic turmoil in the market, the market index for 40ft containers has taken a massive dip, 44% from May 2012. Xeneta, the price comparison service for sea freight, found that the average container freight rates from Asia to North-Europe continues to drop to $2,564 per 40-foot container and $1,341 per 20-foot. Due to overcapacity and various economic turmoil in the market, the market index for 40-foot has taken a massive dip with it being down 44 percent from May 2012.

15 May 2013

INTTRA & APL Expand Business Relationship

The companies agree that INTTRA will support APL’s global e-commerce growth strategy, as well as enhance its global customer service offerings. With more than two million container orders initiated on the INTTRA platform each month, INTTRA says it reaches the largest worldwide community of ocean freight buyers with solutions for online, desktop and system-to-system integrations. The INTTRA network includes over 64,000 companies, shipping to and from more than 130 countries. This broad e-commerce reach will enable APL to more quickly and effectively deliver the increased efficiency and cost saving benefits of electronic shipping to customers in all the markets it serves.

12 Apr 2013

Logistics Market Intelligence Newcomer Raises Funds

Norway-based Xeneta gets funding to advance their comparison engine to the shipping industry & expand into new markets. The company, a price comparison service for sea freight, say they have received €1.2m in institutional financing. The round was led by Stockholm based venture capital firm Creandum with Norwegian private investment company Alden co-investing. Using the principle of crowdsourcing, Xeneta delivers transparency to an industry burdened with supply chain complexity and hidden rates. Xeneta’s SaaS platform represents a new generation of open information links in shipping, allowing freight buyers and sellers to compare their rates both to the market average-and best-in-class rates.

06 Mar 2012

WCI Backhaul Routes Listed for Clearing

Major boost for swaps liquidity as WCI backhaul routes are listed for clearing. Introduction of clearing for new Europe-Asia routes will bring significant additional trading potential to container derivatives market. The World Container Index is pleased to announce that two WCI route assessments, covering Los Angeles to Shanghai and Rotterdam to Shanghai will now be cleared by LCH.Clearnet. The addition of clearing, which provides risk management for over-the-counter container freight swap trades, has been made in response to increased demand to manage freight price risk and reflects the growing market acceptance of the WCI. Since launch in September 2011…