Xeneta achieves Gartner Cool Vendor status for real-time ocean freight rates intelligence
Xeneta, the leading global real-time and on-demand ocean freight rates benchmarking and market intelligence platform, has been named a Cool Vendor in Supply Chain Execution 2018 by acclaimed technology research firm Gartner, Inc. The Norwegian headquartered business, which also has offices in New York and Hamburg, was singled out for its ability to give users real-time, personalised market insight, unlocking value for ocean freight rate negotiations, the company said in its press release.
The Gartner report elevated Xeneta to Cool Vendor status due to its commitment to ensuring users have access to the latest rate information by constantly updating benchmarks, rather than doing so weekly or monthly like other services. In addition, the firm’s software platform applies a real-time aggregation of data against market rates to present individual customers with a personalized view of their potential savings opportunities.
Xeneta’s success in building a community of key global shippers who provide their freight rate information was also referenced in Gartner’s report. The platform now boasts a database of over 55 million contracted rates, crowd-sourced from more than 700 leading international businesses, with insights covering 160,000 port to port pairings.
Xeneta has increased its data coverage by over 150% in the space of the last year alone. It is currently adding new data points at the rate of over 2 million per month.
Xeneta is the leading ocean freight rate benchmarking and market intelligence platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping stakeholders the data they need to understand current and historical market behavior – reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of over 55 million contracted container rates and covers over 160,000 global trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway and regional offices in New York and Hamburg.