JERUSALEM, May 10, 2023 /PRNewswire/ — Today, Freightos® (NASDAQ: CRGO), a leading freight booking and payment platform, unveiled Freightos Terminal, a one-stop dashboard that provides industry stakeholders with the data and market updates, trends and insights that they need to stay informed. This allows logistics professionals to optimize their international shipping and keep supply chains running smoothly and cost-effectively in an uncertain world.
International freight is always prone to disruption: to labor disputes, increasingly frequent storms, conflict and fluctuating demand. When the pandemic hit supply chains in 2020, boardroom leadership took notice, with supply chain mentions in annual reports doubling from 2019 to 2022[1]. Yet, even today, as freight prices have dropped and supply chains have begun to normalize, interest in logistics intelligence persists. A recent Freightos survey of 200 supply chain professionals found that 92% of multinational supply-chain organizations expect to remain as engaged with freight intelligence as they are now, with 60% expecting to be engaged even more. The leading use for data among logistics professionals and shippers is to explain decisions to internal stakeholders and clients, followed by improving price negotiations and optimizing operational decisions.
To meet this need, and built upon the popular Freightos Baltic Index (FBX) of container shipping rates, Freightos Terminal provides a suite of powerful data, analysis and news tools. The Terminal brings together several key data. Firstly, custom market intelligence reports with fresh and accurate market pricing, scheduled and actual transit times data on individual lanes, rate benchmarking, expert forecasting and analysis. Secondly, the Freightos Baltic Index (FBX) and the Freightos Air Index (FAX), the world’s leading spot market container and air cargo indexes, respectively. And the Market Feed, which provides live feeds on critical events that affect pricing and transit times in a given route, from gathering storms in Jakarta, ramp-up of blank sailings and GRIs on Transpacific routes, to upcoming holidays in Asia and labor disruptions in Germany.
“Accurate data is mission critical. Whether it’s labor strikes, natural disasters, pandemics or geopolitical shocks, disruptions are a constant that can be mitigated but not eliminated,” said Zvi Schreiber, CEO of Freightos. “Keeping a competitive edge depends on access to quality supply-chain data. Our Freightos Terminal will provide that and more. We’re proud that Freightos Terminal is supporting supply chain agility and cost-effectiveness, keeping goods moving smoothly around the world.”
“Freightos’ Terminal is the solution for industry stakeholders looking for both a bird’s eye view of current market trends and a granular picture of port-to-port events, pricing and transit times,” added Anton Barr, VP Market Data at Freightos.
As one Freightos user, Dan Smith, a logistics manager at Briggs & Stratton, shared, “Freightos’ allows us to remain competitive with the marketplace. As a leading lawn mower and snow tractor manufacturer that moves products in 100+ countries on six continents, we rely on Freightos’ FBX as a ‘true north’. Their data helps us answer questions from suppliers, and our senior executive team, as to whether our rates are competitive. In the past 18 months, because of data we were seeing regarding West Coast labor disruptions, we biased way more of our materials towards the East Coast, relying heavily on Freightos’ platform to do that.”
Click here to learn more about the Freightos Terminal.
[1] SEC EDGAR, 2023.
About Freightos
Freightos (NASDAQ: CRGO) makes global trade frictionless with the leading international freight booking and payment platform. While international trade is at the core of the global economy, it is powered by a massive global freight market that remains largely offline, increasing costs and reducing supply chain reliability. Visit us at freightos.com
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SOURCE Freightos
