XENETA, a global real-time and on-demand ocean freight rates benchmarking platform, has been named a Cool Vendor in Supply Chain Execution 2018 by acclaimed technology research firm Gartner, Inc.
The Norwegian headquartered business, which also has offices in New York and Hamburg, was singled out for its ability to give users real-time, personalised market insight, unlocking value for ocean freight rate negotiations, said the Xeneta press release.
The Gartner report elevated Xeneta to Cool Vendor status due to its commitment to ensuring users have access to the latest rate information by constantly updating benchmarks, rather than doing so weekly or monthly like other services, it said.
Said Xeneta CEO Patrik Berglund: 'Our success is judged by the growth of the platform and the value we can deliver for our users' businesses.
'Xeneta has increased its data coverage by over 150 per cent in the space of the last year alone. It is currently adding new data points at the rate of over two million per month,' said Mr Berglund.
Xeneta data is comprised of 55 million contracted container rates and covers over 160,000 global trade routes. Xeneta is a privately held company with offices in New York and Hamburg.