SeaRates and CP World tap into new markets and customer base with a range of benefits catered for small cargo owners
Singapore -10 June: DP World’s SeaRates’ partnership with Singapore-based CP World Group is seeing significant growth, with month-on-month bookings and shipment tracking for small cargo owners up by 39% since last year.
Just one year on from its strategic partnership announcement with CP World, SeaRates’ ‘digital freight forwarder’ platform is seeing major growth in its Less than Container Load (LCL) bookings, with smaller cargo owners benefitting from access to streamlined logistics processes, real-time information, and enhanced efficiency when moving cargo from A to B. This new market and customer base for SeaRates is seeing CP World optimise container space, efficiently consolidating LCL shipments, providing cost savings for shippers while contributing to a more sustainable global supply chain.
The partnership with CP World means that customers moving less than a full container load now have greater access to competitive rates, the latest transit times, CFS details and sailing schedules across 1,000 destinations, serving eight regions, covering Asia, Africa, North America, South America, Europe, Pacific, Middle East, Central America. This is particularly advantageous for those moving seasonal or promotional products, that may not necessitate a full container.
The compounded monthly growth rate for bookings from December to March 2024, highlights the growing demand from SMEs, startups and individuals who require access to international trade, but have previously not been able to enjoy the same level of benefits as their bigger counterparts. By providing access to LCL shipments through an online platform, smaller customers are now benefitting from more flexibility in their bookings, fuelling their growth in turn.
Mike Bhaskaran, COO of Digital Technology at DP World, said: “Our partnership with CP World has seen strong growth on the platform, as we’ve been able to open up a new customer base and market to cater to smaller cargo owners who still want the same services as their larger counterparts. Providing LCL shipments, with the same real-time tracking and traceability capabilities through a digital platform is a major step forward in creating sustainable long-term supply chains for all. SeaRates is a truly universal platform – it caters to businesses of all sizes – and we’re proud to help grow companies and in turn accelerate international trade for all.”
Ken Chiang, Group CEO of CP World, said, “One year on from our strategic partnership with SeaRates, we are seeing significant growth in the number of bookings from smaller cargo owners. By offering a worldwide LCL Network with comprehensive LCL ocean freight rates and services, via an easy-to-book digital platform, we are able to create sustainable solutions for all shippers, no matter their size.”