Supply chain consultants Chainalytics and shipping consultants Drewry have partnered to launch an innovative ocean freight procurement solution for shippers. The Chainalytics Ocean Buying Group, in partnership with Drewry, will provide participating Beneficial Cargo Owners (BCOs) with enhanced purchasing power, service monitoring and cost transparency.
The new strategic partnership delivers a pioneering ocean freight procurement platform that will enable medium and small scale importers and exporters to collaboratively achieve “big shipper” rates and terms direct with ocean carriers and benefit from shared intelligence for better commercial decisions.
Philip Damas, head of Drewry’s logistics practice, said: “This is an exciting initiative for both organisations. By combining propositions we’re able to offer a unique service delivering much needed improved ocean carrier contractual terms with full transparency, cost stability and predictability, market intelligence and technology-driven category management to a segment of the market that often suffers pricing volatility and opaque service levels.”
John Westwood, Senior Manager, Chainalytics Transportation Practice, said: “We designed the Ocean Buying Group to provide companies often outsized by competitors the opportunity to gain “big” shipper value relative to the size of its organization and quantity of shipments, and our partnership with Drewry further enhances our clients’ capabilities to competitively acquire ocean freight services.”
Arjun Batra, Group Managing Director at Drewry, said: “Smaller retailers and manufacturers often struggle to achieve favourable rates on their international shipments. This initiative levels the playing field by providing these organisations with a collective buying solution that can deliver real purchasing power.”
“This is an exciting initiative, not only for both our organisations but also for BCOs”, he added. “Between our two companies lies a vast knowledge bank of market insight and intellectual know-how which can be exploited to the full. Through the launch of the Ocean Buying Group we look forward to delivering something compelling to those that value our independence and impartiality.”