Xeneta, the ocean freight rates benchmarking and market intelligence platform, has announced its intention to include air freight rates later in 2018.

The Xeneta for air freight product will enable users to accurately benchmark their air freight rates against the market.

Xeneta, which launched from its Oslo base in 2012, gathers the latest global shipping data from a community of over 700 leading businesses, covering more than 160,000 port-to-port pairings and over 35 million contracted rates. This allows users to track trends and get the best rates.

“There is a clear market demand for a benchmarking tool enabling the industry to get optimal value from air freight rate negotiations,” explained Xeneta CEO Patrik Berglund. “The sector is equally, if not even more, unpredictable than that of ocean freight rates, with prices currently sky rocketing due to lack of capacity. This impacts upon bottom lines for shippers, freight forwarders and carriers as well as the reliability of their cargo supply chain. By providing greater real-time intelligence, understanding and visibility we can help the market tackle this issue head-on.”

Xeneta for air freight is now under development at the prototype stage, with a full launch scheduled for Q2 2018.

Photo: Patrik Berglund.