Friday, October 5, 2012

CargoSphere network reaches 100-million-rate-connections milestone

Global rate network CargoSphere announced a major landmark this week when its cloud-based shipping network reached 100 million system-to-system rate connections.   

A connection consists of an ocean or airfreight rate from an offering party, such as a carrier or NVOCC (non-vessel operating ocean carrier), a receiving party, and the defined rate.

By automating rate management practices the network provides a way to manage the freight rates, including fluctuating surcharges and general rate increases.  

Company clients manage their own carrier freight contracts and aggregate large volumes of external rates from many sources, including associations, agent partners and neutral NVOs. The system allows clients to use an invitation tool for rate sharing similar to common social networking tools. 

"I am pleased that the level of rate collaboration has reached this significant milestone. As we continue to add new capabilities and industry segments we will become a broader, more robust network community," said Neil Barni, president of CargoSphere. 

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