NOVA MEDIA PUBLISHING INC.

Hapag-Lloyd Launches Digital Rate Distribution on CargoSphere

23.3.2018

CargoSphere, the cloud-based rate management platform, recently announced a direct data feed of ocean rates and tariffs for the global trade lanes from Hapag-Lloyd, the 5th largest container shipping line in the world, to its customers.

The ocean carrier is the first to offer its customers automatic access to all their contract rates using CargoSphere’s electronic Smart Upload and Diagnostics Solution (eSUDS). This integration is a dramatic improvement over current labor-intensive industry practices of frequent email distribution of carrier-proprietary file attachments.

The CargoSphere platform offers a 100% digital infrastructure, in which eSUDS establishes an automated data transfer of contract and public tariff rates between an ocean carrier, CargoSphere and the ocean carrier’s customers. Digital contract management significantly increases accuracy and reduces processing times from several days to just a few hours.

Shipper, freight forwarder, and NVOCC customers can now have visibility to their own new or amended service-contract rates as supplied by Hapag-Lloyd to the CargoSphere platform. This provides a much more efficient and timely process to transform this traditionally complex, time consuming, error prone and costly aspect of ocean shipping.

A Drewry Research Study* from 2017 determined that the annual labor cost of finding, receiving, processing, and analyzing ocean freight buy rates for the global freight forwarding community was approximately US$500 million.

CargoSphere’s platform is designed to deliver significant efficiency and accuracy to international forwarders, ocean carriers and shippers. Users’ global offices will have access to accurate, timely rates for better decision making, they will benefit from time savings for sales and operational staff, faster reconciliation of invoices, and increased accuracy of buy rates. The platform can also deliver sales-related benefits including faster quoting to customers, more frequent selection of optimal bookings, increased customer satisfaction and the ability to share accurate Hapag-Lloyd rates in real-time with agent partners.

Founded in 1999, CargoSphere is a leading global ocean freight rate management provider, helping customers worldwide boost productivity. 

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