The interview below is an excerpt from WebCargo’s Digital Air Cargo Monthly report, delivering analyses of recent trends in air cargo penetration, market intelligence, in-depth interviews with industry leaders, and more.
VP Market Data, Freightos Data
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Read our exclusive interview below with Anton Barr, VP Market Data at Freightos Data. Freightos Data publishes the Freighos Air Index (FAX), the most comprehensive and accurate global air freight rate index, as well as other data products which improve supply chain decision making, planning, and pricing transparency.
Digital Air Cargo Interview with Anton Barr, VP Market Data at Freightos Data
What is Terminal, and what is it’s purpose?
Freightos Terminal is a market intelligence tool designed for logistics professionals. It enables users to compare ocean container pricing, air freight rates, and analyze transit times and reliability data. The tool keeps users informed about key events impacting shipping lanes, such as labor-related issues, port congestion, GRIs, weather disruptions, and blank sailings.
This platform aims to improve decision-making and efficiency in the logistics and shipping industry by providing detailed, real-time data and insights.
How does Terminal gather and analyze the data it uses to provide market intelligence for freight forwarders?
Freightos Terminal gathers its data primarily from transactional records on its e-booking platform, supplemented by real-time information from various shipping services.
This rich dataset is then analyzed using advanced analytics algorithms, which enable the tool to identify trends, compare rates, and help predict future market movements.
How does Terminal contribute to improving a freight fowarder’s decision-making process?
Freightos Terminal enhances the decision-making process for freight forwarders by providing data-driven insights and competitive benchmarking. Access to real-time, comprehensive data on freight rates, transit times, and market trends allows forwarders to make informed decisions, reducing reliance on guesswork.
Additionally, Freightos Terminal aids in anticipating market fluctuations with updates on key events like port congestion, labor disruptions, and GRIs. This foresight enables proactive planning, helping to avoid potential delays and additional costs.
It also supports risk mitigation by keeping forwarders informed about potential disruptions, allowing for the development of contingency plans. This proactive approach, combined with the time and resource efficiency gained from using Freightos Terminal, not only enhances operational efficiency but also enables better customer service, contributing to overall business success.
Why is it beneficial for freight forwarders to be able to compare and benchmark air rates and transit times?
Freightos Terminal offers freight forwarders a critical advantage by providing the latest pricing information and real-time insights into actual transit times and key events. This immediate access to comprehensive data allows them to respond quickly to customer inquiries, reducing the risk of losing customers to competitors who might respond faster.
Accurate and up-to-date transit information helps forwarders set realistic expectations with their customers, effectively managing their anticipation and avoiding future disappointments. This combination of speed, accuracy, and informed communication significantly enhances a forwarder’s competitiveness and customer satisfaction.