Ocean shippers using the SONAR platform will have access to more data and insights on the maritime marketplace, thanks to a new partnership between project44 and FreightWaves. SONAR is a platform that offers real-time market intelligence for the global logistics industry, enabling shippers to benchmark performance, gain insight, and forecast trends.
project44 will provide SONAR with a trove of ocean market data covering more than 96 percent of the world’s container volumes. project44 gathers real-time information on maritime shipments in transit and then enriches the data for accuracy, fidelity, and completeness through the application of proprietary machine learning techniques.
As part of the agreement, project44 provides lane- and port-level insights around dwell times, rolled shipment rates, and cargo delays. Those indices are early indicators of supply chain stability as well as macro-level demand and supply for ocean freight. Changes to these key performance indicators are early indicators for rate increases, potential shipment delays as well as rising inflationary pressures.
Insights for Shippers and 3PLs
Shippers and third-party logistics companies (3PLs) will be able to use the ocean visibility data for strategic supply chain planning amid ongoing supply chain disruptions. They will also be able to use the data to evaluate ocean carrier performance, route optimization and reliability as well as transport network design.
project44’s maritime information will be available to FreightWaves SONAR subscribers. This new data can be found in SONAR at tickers P44OPPD, P44ODDTSP, P44ODPTOL, P44ODPTOD, P44ODT, and P44ORI. https://knowledge.freightwaves…