News / MOL spot rate cargo booking platform Umbrair takes off

© Vadym Medvediev

Japanese shipping group Mitsui OSK Lines (MOL) today launched Umbrair, a digital trading platform for spot air cargo.

Spot transactions enable shippers and forwarders to flexibly respond to supply chain disruptions, and the platform’s systematic quotes “enable transactions to be completed faster than through phone calls and emails”.

MOL said: “Rising geopolitical uncertainty and supply chain restructuring have further intensified the air cargo market’s need for agility; the ability to swiftly respond to sudden demand and secure optimal transport solutions at fair prices.

“Spot transactions have become a cornerstone of logistics flexibility. On the other hand, spot cargo transactions still rely heavily on phone calls and emails, posing challenges in terms of speed, transparency, and operational efficiency.”

Transactions on Umbrair can be completed entirely online, from initial contact to final agreement, and MOL claimed the platform would “accelerate the digital transformation of air cargo forwarding”.

MOL’s move comes a week after the Baltic Exchange, in partnership with TAC Innovation, introduced the extended Baltic Air Freight Spot Indices (BAI Spot) to include routes from Hong Kong, India and South Korea.

BAI Spot forms the first-ever daily spot air freight indices developed under the UK Financial Conduct Authority’s benchmark guidelines, and with its increasing use by airlines, forwarders, and shippers to negotiate air freight contracts, the Baltic plans to extend its coverage to more airports in Asia, Europe, and the Americas, reflecting the shifting dynamics of global supply chains.

Baltic CEO Mark Jackson said: “For the first time, the industry has an FCA-regulated benchmark that reflects true market conditions. This development is about bringing the same level of transparency seen in other major transport and commodity markets to air freight, enabling better decision-making across the global supply chain.”