This week marks an incredible milestone in Xeneta history. We have reached a whopping 17 Million data points in our database. This translates into 17 MILLION contracted rates in the Xeneta platform, which shippers, freight forwarders and carriers can compare their ocean freight rates against. We are humbled. The industry should be ecstatic.
Without any doubt, the density of data/contracted rates in our platform, earns us the right to call ourselves the "world's largest database of ocean freight rates." This means great things for the entire industry who, as we speak, is being hammered by uncertainty and economic drama. With more data comes greater visibility. With more data comes factual decision making, not opinion-based bias. With more data comes accuracy and transparency. More data means better global trade.
Figure I. Xeneta data growth from January 1, 2016 - August 2016. .
The great thing of reaching such a notable milestone for a data and shipping company like Xeneta, is that it's become ever-so-clear that our message of "freight rate transparency and that the industry needs to work together for all to benefit" is resonating. Without the acceptance of that fundamental notion, we would not be at 17 MILLION contracted rates in our platform today.
This data is for you. These 17 million contracted rates is to help the entire industry have even better visibility into how ocean freight prices are moving, always in real time and on demand. The more data, the more you know. The more you know, the better you can be as an ocean freight, procurement, logistics and/or supply chain professional. Your boss will love you when you can pinpoint exactly how your rates are performing, where to improve, what/where to offload, what/where to double-down on, what to look out for based on the current market. All based on facts.
I couldn't finish this post without giving a very big shout-out to our Team Xeneta. Magic doesn't happen on its own. Our data team has dealt with hundreds of thousands of rate sheets from all walks of the industry. If you know rate sheets, you know the struggle our data team has faced to prepare these sheets for data import, scrubbed them and made them beautiful so our backend systems can run their magic in our platform. Hats off, team.
Here's to 17 MILLION more.
If you are struggling to keep a pulse on ocean freight industry and the fluctuation in prices, I sincerely invite you to learn about Xeneta and see how our 17 million contracted ocean frieght rates can help you and your company.