Digital freight forwarder Flexport has launched its new OceanMatch service, used to identify available container space on compatible shipments using data analytics and match that space with cargo waiting to be shipped.
According to Flexport’s own figures, Full Container Load (FCL) containers were only utilised on 65% of ocean freight imported into the US in 2018, meaning that more than one-third of the available US-bound container space was moving across the ocean without cargo.
The OceanMatch system will allow shippers to only pay for the part of the container they use rather than for the entire container, which the company claims could save up to 35% per shipment for qualifying customers.
The service also aims to save time for cargo owners by limiting the number of different shippers per container, with OceanMatch matching a maximum of three shipments of complementary cargo with the same point of origin, final destination and type of commodity to a container to minimise loading times.
“The most important goal of Flexport’s technology-first approach to freight is that we unlock new opportunities for our customers,” said Ryan Petersen, CEO and founder of Flexport.
“That’s why we are making meaningful investments in technology, infrastructure and expertise. The launch of OceanMatch is a key example of our Operating System for Global Trade coming to life.”
“Where other freight forwarders see shipments as just a twenty or forty foot container, our data tells us this is a thousand pairs of shoes and that’s a hundred mountain bikes. It’s that insight that lets us do more for our clients’ shipments and supply chain priorities.”