Leveling the Ocean Shipping Playing Field
Participating beneficial cargo owners (BCOs) can benefit from enhanced purchasing power, service monitoring, and cost transparency as a result of a new partnership between supply chain consulting company Chainalytics and global shipping consultancy Drewry.
The companies have joined forces to launch an innovative ocean freight procurement solution for shippers. The Chainalytics Ocean Buying Group will provide an ocean freight procurement platform that levels the playing field by enabling small and midsize importers and exporters collaboratively achieve "big shipper" rates and terms direct with ocean carriers and benefit from shared intelligence for better commercial decisions.
"By combining propositions we're able to offer a unique service delivering much-needed improved ocean carrier contractual terms with full transparency, cost stability and predictability, market intelligence, and technology-driven category management to a segment of the market that often suffers pricing volatility and opaque service levels," says Philip Damas, head of Drewry's logistics practice.