Will Shipping Lines Start Requiring Online Quotes?
TPMTECH STREAM: CHANGING OCEAN FREIGHT
We are well into the era of online rate ubiquity, an environment in which ocean rates of all types and structures are discoverable and bookable through numerous platforms. As well as neutral platforms, instant rates and — sometimes — dynamic quotes are on offer from a bevy of forwarders, container lines, and even terminal operators. If access to online quotes is now a given, the question then becomes: What happens next? Does online quoting become a direct replacement for a spot? Or does it become a tool to drastically reshape procurement behavior for both forwarders and shippers? Maersk Line, for instance, has indicated it will begin to route any non-shopper volume through its online guaranteed tool Maersk Spot. JOC editors heard chatter at various points in 2021 that certain carriers were essentially shuttling volume toward their online quoting engines. If that wasn’t exactly a mandate, given this past year’s supply crunch, it effectively became one. This session will explore where the ocean freight marketplace concept goes in 2022 and beyond, with perspective from a neutral platform, and a rate marketplace operated by one of the world’s largest forwarders.