Container shipping heavyweight CMA CGM Group has become the first ocean carrier listed on the online freight marketplace Freightos in a pilot agreement between the two firms announced today.
The deal means that Freightos will offer online bookings, guaranteed pricing, and secured capacity on CMA CGM's China-U.S. trade lanes, with further extension to additional lanes planned in the near future.
Marseilles-basedCMA CGM said the link reinforces its portfolio of digital supply chain products, offering importers and exporters direct access to instant pricing, routing, and concrete sailing information in seconds, as well as guaranteed capacity.
CMA CGM and @Freightos sign landmark agreement advancing #digitization in the #shipping industry > https://t.co/b3iPELmSjQ— CMA CGM Group (@cmacgm) December 5, 2018
Online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes are available on Freightos platform, with more to come! pic.twitter.com/lGCuPpAxXN
"With CMA CGM selling on Freightos, smaller shippers now have direct access to a major carrier with competitive pricing," Freightos Founder and CEO Zvi Schreiber said in a statement. "Additionally, shippers of all sizes will have access to guaranteed prices and capacity. This aligns with our goal to help logistics providers drive more value for customers, enabling smoother global trade, and ensuring more reliable and affordable supply of goods to end consumers."
Hong Kong-based Freightos has been growing fast, thanks to investments of $44.4 million in 2018 and $25 million in 2017. Those funds have fueled the firm's effort to scale up its online international freight marketplace and develop new financial instruments to improve transparency in shipping, the company said.