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Xeneta to add air to ocean rate platform in 2018

OSLO: December 14, 2017. Ocean rate platform Xeneta is adding air cargo rates to a product suite that it says will "bring fresh levels of transparency to the volatile air freight market".

Xeneta has been collecting real-time global shipping data since 2012 and now covers over 160,000 port-to-port pairings and 35 million contracted rates. The company says it now wants to do the same for the air cargo industry.

DP"There is a clear market demand for a benchmarking tool enabling the industry to get optimal value from airfreight rate negotiations," claimed Xeneta CEO Patrik Berglund. "The sector is equally, if not even more, unpredictable than that of ocean freight rates, with prices currently sky rocketing due to lack of capacity and increasing e-commerce demand, amongst other factors.

"This is bad news for everyone, especially those who want to ensure they get products on the shelves at peak periods, such as Christmas," he added.

Berglund's comment coincides with a Lufthansa Cargo announcement that it has been operating extra MD11 charter capacity for Deutsche Post between Frankfurt and New York "in the service of Santa Claus". According to Alexis von Hoensbroech, Chief Product and Sales Officer, "we have never before organized so much additional cargo space on such short notice." 

Xeneta said it plans to launch its new airfreight service in Q2 2018, based on its crowd-sourcing ocean data collection model, for users to see the average market rate for origin and destination-based pairings based on spot and long-term airfreight contracts.

"We'll be giving users instant access to the latest air freight rates on worldwide routes, sourced from reliable, leading global businesses," Berglund continued. "We're already collecting rates from our established user base, and seeking more early adopters to help expand data collection. At the moment we're adding over two million contracted rates monthly for ocean shipping and we'll be looking to more than double our overall rate density for both modes of transports collectively in 2018."

Earlier this month the company announced it had added ocean refrigerated container rates to its platform. Shippers can expect a similar move for airfreight next year.

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