Amount Far Exceeding Overall Market Growth
PARSIPPANY, New Jersey, Aug. 9, 2016 /PRNewswire/ -- INTTRA, the world's ocean shipping electronic marketplace, today announced a 17 percent increase in container volume for the first half of 2016 over the same period in 2015 as the number of container orders on its core transaction platform grew to record levels.
INTTRA's 17 percent container volume increase compares to less than four percent growth in overall market container volume year over year through May 2016, according to Container Trade Statistics. INTTRA's container volume does not include container volume processed through the INTTRA eVGM Service that transmits messages from more than a thousand shippers to 47 ocean carriers in order to facilitate compliance with new International Maritime Organization (IMO) container weight requirements, which went into effect on July 1, 2016.
"INTTRA is generating rapid growth by focusing on meeting our customers' and the industry's needs in our unique role as the only neutral transaction and data platform in Ocean. We have invested in our core platform and products, created new products and reached out to new customer segments," said INTTRA's CEO John Fay. "The global shipping industry has reached a tipping point where digital shipping management is now a competitive necessity and INTTRA's comprehensive platform is meeting their needs," he said.
The company sees strong growth of electronic booking and shipping instructions with the 18.4 million containers processed by INTTRA in the first half of 2016. To assist customers with a better visibility of their cargo, INTTRA sends more than 180 million unique container status events worldwide annually.
INTTRA, soon marking its 15th anniversary, is the world's largest neutral platform enabling world container trade and generating valuable data used by customers for shipping optimization and operational excellence improvements.
In addition to its rapid growth, INTTRA had one of the richest periods of product introduction in its history during the first half of 2016. This included an introduction of cloud-based products such as INTTRA eVGM Service and a new web user interface that integrates ocean schedules, container booking requests, shipping instructions, and web bill of lading with a common user experience. The portal's functionality was enhanced with the dangerous goods submission and compliance with national regulatory requirements features. New Decision Support Dashboards already help some of the top global shippers with container status event visibility and detention and demurrage reductions.
The value of INTTRA's portfolio enhancement and market leadership is further recognized by a 15 percent increase over 2015 in the number of alliance partners, including the JDA partnership announced earlier this year.
INTTRA was pleased to be included in July's CIO Review list of Top 20 Most Promising Logistics Tech companies.
INTTRA is the world's ocean shipping electronic marketplace, information and service provider. INTTRA's innovative transaction and information products, combined with the scale of its network, empower customers to trade with multiple parties and leverage ocean industry information to improve their business. The company works with over 45 leading ocean carriers and NVOCCs, over 110,000 freight forwarders and shippers, and more than 100 software alliance partners to streamline and standardize the shipping process. Over 650,000 container orders are initiated on the INTTRA platform each week, representing approximately 25 percent of global ocean container trade.