Benchmarking platform Xeneta enters the air freight market
Xeneta, an ocean freight rates benchmarking and market analysis platform, has announced its intention to bring fresh levels of transparency to the volatile air freight market with a new offering. Their air freight product which is about to be launched will enable users to accurately benchmark their air freight rates against the market.
Xeneta, which launched from its Oslo base in 2012, has rapidly grown to become the industry’s number one ocean freight rates analytics platform. It gathers the latest global shipping data from a community of over 700 leading businesses, covering more than 160,000 port-to-port pairings and over 35 million contracted rates. This 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 fly high in the aviation segment. “There is a clear market demand for a benchmarking tool enabling the industry to get optimal value from air freight rate negotiations,” explains Xeneta CEO Patrik Berglund.
According to Xeneta, the sector is equally unpredictable as that of ocean freight rates, with prices currently sky rocketing due to lack of capacity and increasing e-commerce demand, amongst other factors. This impacts upon bottom lines for all stakeholders – from shippers, to freight forwarders and carriers – as well as the reliability of their cargo supply chain. “By providing greater real-time intelligence, understanding and visibility we can help the market tackle this issue head-on,” adds Patrik Berglund.
Xeneta for air freight is now under development at the prototype stage, with a full launch scheduled for Q2 2018. It will operate with the same, proven crowd-sourcing data collection model as the ocean service, with similar functionality displaying the full spread of the market.
