Freightos launches freight rate calculator

10 / 11 / 2016

Freightos, the online freight marketplace, has launched its Freight Rate Calculator for international multimodal logistics that includes air cargo.

The calculator is currently being launched as a public beta.

Hong Kong-based Freightos said that the calculator allows retailers, exporters, distributors and wholesalers to access “immediate freight rate estimates for ocean, air, and trucking shipments across the globe”.

Subscribers also have the optional ability to book some of those rates on the Freightos Marketplace.

“Access to this near real time information is all the more important for global businesses given increased usage of spot quotes, and rising rate volatility,” said the logistics technology developer.

It added: “Freightos’ Freight Rate Calculator leverages powerful routing and pricing algorithms to calculate fees and surcharges for trucking, air and ocean shipping, calculating anticipated ranges for shipping along different lanes by a variety of modes.”

Freightos chief executive and founder, Zvi Schreiber, said: “The global economy needs dynamic, transparent data but global shipping has been a bottleneck. Over the past four years, Freightos has brought this opaque industry into the sunlight.

“Our Freight Rate Calculator brings us one step closer to our goal of transparent freight. We anticipate this will provide a leg-up to small and medium-sized businesses that can benefit from access to instantaneous and comprehensive freight estimates at real time market rates.”

In August this year, Freightos acquired air cargo rate management provider WebCargoNet.

Freightos said the acquisition would create the world’s largest database of air, ocean, and land freight rates with hundreds of millions of international and domestic rates and routes, enabling shippers and freight forwarders to conduct business online with ease.