In the latest update to FreightWaves SONAR, data has been added from Commtrex, the number one online electronic marketplace that connects rail shippers with railroads, storage providers, lessors, transloaders and a wide range of service providers.
Craig Fuller, FreightWaves’ co-founder and CEO, said, “Adding Commtrex data to FreightWaves SONAR provides even more useful information for SONAR subscribers. I’m pleased to announce this latest partnership between two pioneering FreightTech companies.”
FreightWaves SONAR was launched one year ago (May 22, 2018) and is constantly being upgraded. It is a powerful platform that brings together millions of disparate freight market data points with a robust analytics toolset and the market intelligence of the FreightWaves team – all through one intuitive dashboard.
According to Dean Croke, FreightWaves’ chief insight officer, “Commtrex is the first and only platform to bring the supply and demand sides of the rail industry together at once – creating an efficient, interactive and data-driven marketplace. Incorporating Commtrex data into SONAR provides even more information, insight and analytics for SONAR users. The Commtrex data adds to what SONAR offers in the rail sector, and we’re glad to provide that information to our subscribers.”
SONAR’s unique blend of big data, technology and deep tribal knowledge gives users an unprecedented view of what’s happening in and around the freight markets. The SONAR platform boasts more than 120,000 daily data points, with deep analytics around the entire global freight market, including trucking, rail, intermodal, maritime container, air cargo and warehouse data, as well as thousands of data series that cover economics, census, commodities, weather and traffic.
Data sets are presented through an intuitive dashboard that allows users to customize and analyze their own view of the freight markets through maps, charts, watchlists, tree maps, flash media content and news.
Martin Lew, CEO of Commtrex said, “Providing Commtrex data to FreightWaves SONAR subscribers will provide greater insight into the rail sector. We are excited to partner with FreightWaves, and SONAR provides excellent exposure for Commtrex’s proprietary data.”
Lew went on to explain, “The railroad industry has historically been opaque with minimal transparency into supply/demand fundamentals, asset availability, pricing discovery and connectivity to the right people. Commtrex seeks to bring efficiency to an industry that moves over 80 percent of all commodities across the U.S. Commtrex is the first and only online marketplace that provides North American rail shippers with direct access to the resources they need to manage their fleet while also aggregating data analytics on trends and insights for commodities that are shipped by rail.”
Commtrex is an online marketplace facilitating business between rail shippers, storage providers, service providers and asset owners. The Commtrex Exchange is a transactional platform, revolutionizing how the rail industry conducts business. Within two years of its launch, Commtrex has built an inventory of railcars in its system valued at over $530 million, more than 350 companies that ship by rail, 1,500 transloaders, 100 percent of Class I railroads, 75 percent of shortline railroads and 45 percent of lessors as members of the system.
Most recently, Commtrex has launched: Commtrex Rail Insights; the first exchange-based price index for railcar leasing and storage rates; the first Top 10 list for storage and rail service providers in the U.S. and Canada; and trending analytics that highlight the most searched for and viewed listings, requests, railcar types and storage locations in the marketplace, giving members unprecedented insights on current trends across the rail industry. These trends may also be linked to economic indicators of events that are taking place in specific commodity markets.
In December 2018, Commtrex was recognized as “Most Promising Company” at the 2018 Texas Digital Summit, hosted by the Rice Alliance for Technology and Entrepreneurship and Station Houston at Rice University’s Jones Graduate School of Business.