Thursday, August 26, 2010

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Ocean freight portal reports increase in global e-commerce

Riding on the back of strong growth for import volumes in Asia, Parsippany, New Jersey-based INTTRA, an e-commerce platform for the ocean-shipping industry, reported an increase of almost 34 percent in electronic transactions over the past 12 months.

Culled from an average of over 350,000 container transactions per week, which the company said represents 12 percent of global ocean trade, INTTRA said in a statement the increase in its online box business was almost triple that of global container market growth.

According to the data reported by INTTRA, ocean shipping e-commerce usage grew significantly for imported cargo flows to countries in Asia, particularly for imports to Malaysia at 93 percent, South Korea at 100 percent, and Singapore at 33 percent, compared with 16.3 percent regional container market growth for the first quarter 2010 compared to the same period a year earlier.

“This growth may reflect the significance of growing domestic demand in the region. Stimulus programs, combined with a structural pick-up in demand from investment and consumption, are helping to lift e-commerce usage for imported cargo, the company said.

"Although e-commerce adoption is not an index of business recovery, it is clear that companies across the global ocean supply chain have responded to the recession by streamlining and standardizing business processes, enabling them to be better equipped for the future," said Ken Bloom, CEO of INTTRA.

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