Chapel Hill, North Carolina, April 28, 2016 - CargoSphere, the leading provider of frictionless rate networking and cloud-based global freight rate management, today announces that UASC, a leading global ocean carrier, along with its customer SEKO Logistics, a global supply chain and logistics management company, have implemented a direct CargoSphere rate technology connection to significantly accelerate the distribution of current, frequently changing, Asia-Europe freight rates. Ongoing and increasing rate volatility is weighing the global, ocean shipping industry down. Carriers can't distribute bottom-line rates comprised of numerous surcharges fast enough and logistics service providers (LSPs) are challenged with effectively managing rate updates.
In this environment, everyone loses out. Carriers lose business due to pricing distribution delays and LSPs are forced to manage non-stop freight rate updates which is time consuming and costly. UASC's vision is to increase the value it offers customers by electronically distributing rate pricing to customers in real-time, directly into their rate database, so rates are ready to use immediately. CargoSphere is delivering this capability with a suite of solutions.
How it works:
• UASC uploads global tariffs and surcharges with CargoSphere's Smart Tariff, and their base rates and contract specific surcharges with CargoSphere's SUDS (Smart Upload and Diagnostic Solution) into their private, neutral CargoSphere application.
• Accurate, current UASC pricing data from their CargoSphere application is shared confidentially via CargoSphere's Rate Mesh, a connected, online one-to-one sharing network. SEKO Logistics, an established CargoSphere Rate Mesh customer, easily accesses UASC's pricing in their rate database for timely quoting to customers.
• Implementation of this solution was 2 weeks from contract signing to 'go live'.
*Infographic - Detailing flow of project
"Our goal is to lead with an advanced technology infrastructure that adds substantial value for our customers. With CargoSphere, we are eliminating many steps in distributing rate updates which is enabling us to more quickly make rates visible to our customers, which benefits our customers as well as working to our advantage," said Eric B. Williams, Vice President, Global Head of Sales & Marketing at UASC.
"UASC is in the forefront of carrier technology with their use of CargoSphere's frictionless rate distribution and management. Receiving accurate, current ocean rates in our database allows us to act on them faster and with more confidence. This is what results in greater customer satisfaction and increases our competitive position in the marketplace at a lower cost," said Jose Quesada, Vice President, Ocean Services, SEKO Logistics.
"UASC is the first vessel-owning ocean carrier to add the power of CargoSphere's real-time connectivity to their business. This is the most accurate, efficient way for the industry to distribute frequent pricing updates to customers and it saves time and effort! It is truly a game changer for UASC. With CargoSphere, UASC is eradicating static file contracts, rate sheets and cumbersome management of amendments forever," said Neil Barni, President of CargoSphere.
United Arab Shipping Company (UASC) is a global shipping company based in the Middle East. Founded in 1976, UASC has more than 185 offices around the world. The company is the largest container shipping line in the Middle East region and adjacent markets, covering over 240 ports and destinations worldwide. UASC offers containerized cargo transportation, temperature controlled (reefer) and out of gauge cargo amongst other value added services to a diversified global client-base.
UASC is currently implementing one of the industry's largest and most technologically advanced new building programs, consisting of seventeen new vessels; six 18,800 TEU and eleven 15,000 TEU containerships. UASC's cutting-edge vessel designs have been developed with a focus on cost efficiency and enhanced environmental friendliness. These vessels are the first ultra large containerships in the industry to be delivered 'LNG ready', to enable dual fuel (the use of both traditional heavy fuel oil as well as liquefied natural gas or LNG fuel), which is expected to significantly reduce environmental impact and reduce fuel costs.
About SEKO Logistics
SEKO provides complete supply chain solutions including: transportation, logistics, forwarding and warehousing, as well as innovative and customizable IT solutions. These technology tools provide a seamless flow of information and give customers true supply chain visibility.
With over 120 offices in 40 countries worldwide, SEKO's unique shareholder management model enables customers to benefit from global implementation experience and expertise across all industry sectors, coupled with vital in-country knowledge and service at the local level. For more information, visit: www.sekologistics.com
The CargoSphere rate technology platform delivers frictionless rate distribution and networking.
Cloud-based, systematized contract and rate management provides the CargoSphere user community with accurate and collaborative rate distribution, sharing, comparison and quoting, as well as the ability to self-publish FMC tariffs. The CargoSphere Rate Mesh connects shipping partners for seamless, confidential rate collaboration in real-time to simplify rate communication and provide a faster, more effective way to receive and distribute freight rates.
During these competitive times, CargoSphere offers users significant productivity improvements from CargoSphere's Cloud technology due to increased data accuracy and the ease associated with a systematized database with a single source of truth. For more information, visit: www.cargosphere.com