Xeneta enters air freight market, begins data collection process
Xeneta has announced its entry into the air freight market. With a prototype in place, the platform is ready to accept early adopter air rates getting the data collection process started.
Since opening in 2012, Xeneta has sought to bring transparency to the container shipping marketplace by crowdsourcing data from over 600 international businesses. Providing information across over 17 million contracted rates, covering more than 60,000 port-to-port pairings, has given shippers, freight forwarders, and carriers a view of pricing in a market characterised by dramatic fluctuations.
“Due to the lack of transparency in ocean shipping rates, our message and product has resonated well for all stakeholders in the industry looking for a neutral data source to compare their rates against, monitor the market and/or report internal sourcing teams KPIs,” said Xeneta CEO Patrik Berglund. “The air freight market suffers from the same volatility and uncertainty.”
The current situation has seen air cargo rates skyrocketing and uncertainty on capacity, leaving “cargo buyers and freight forwarders in limbo,” said Berglund, “operating in the dark. With Xeneta for air freight, we will fill this void and offer full origin to destination rate data and intelligence.”
Xenetas technology platform is able scale rapidly to take on the millions of additional data points. “This quarter alone,” said Berglund, “we have been able to incrementally release a major update to our user interface, introduce feeder and reefer rates, as well as the capability to collect and display tanker data. We are already working with some of the largest NVO/freight forwarding companies to accelerate our data collection efforts.”
Berglund anticipates that Xeneta will launch its air freight product during the second quarter of 2018.
Xeneta for air freight is accepting early adopters to join its beta program. Its looking for companies buying air cargo to contact Xeneta to learn more about the new offering and how to join data collection efforts.