Xeneta launches two new ‘big data’ products

The ocean procurement software provider launched Xeneta Insight for small and medium businesses and Xeneta Intelligence for large volume shipping companies.    Norway-based ocean procurement software provider Xeneta launched two new “big data” products today, Xeneta Insight for small and medium businesses and Xeneta Intelligence for large volume shipping companies, according to a statement from the company.
   Xeneta Insight provides shippers and beneficial cargo owners (BCOs) with real-time contracted rates information on the current and historical market development of ocean freight rates for 20-foot, 40-foot and 40-foot high cube containers. The tool, which provides market data on over 60,000 port to port connections, allows shippers and BCOs to benchmark their prices against aggregated market indexes, which are illustrated in a customizable dashboard.
   Xeneta Intelligence, which includes all of the features and flexibility of Xeneta Insight, lets shippers and BCOs measure their price performance by comparing their own rates to the market rates directly in the Xeneta platform. The software allows users to measure their own freight rates and their suppliers’ versus market movements for various port to port routes, allowing them to see averages over time, gains and losses, and percentage movements.
   “We have seen a major hole in the containerized sea freight market where procurement decisions have not been done based on facts,” Xeneta CEO Patrik Berglund said in a statement. “Our two new product offerings aim to change how shipping rates are traditionally negotiated providing low and high-volume shippers/BCOs the information they need to optimize the procurement business with aggregated error-proof data based on real-time worldwide freight rates.”