Xeneta, the ocean and air freight rate benchmarking platform, will add CLIVE Data Services’ dynamic loadfactor data and analyses to deliver a ‘full picture’ of air cargo market performance.
Xeneta, which also offers a container shipping index, said the addition of CLIVE’s first-to-market weekly and monthly data will help users make sense of the increasingly complex and volatile air freight sector.
CLIVE Data Services’ dynamic loadfactor challenges the industry’s traditional methodology of measuring load factor based purely on weight utilization, which, it says, can present a misleading picture of how full flights are.
Based on the fact that flights nearly always cube out before they weigh out, CLIVE’s analyses considers both the volume and weight perspectives of cargo flown and capacity available, presenting the most accurate update of cargo demand and how airlines are performing.
Xeneta’s platform aggregates shipper data – from leading names such as ABB, Electrolux, Continental, Unilever, Nestle, and L’Oréal, among others – to deliver insights into over 40,000 airport-to-airport combinations, with almost three million contracted rates.
The platform allows users to assess long and short-term rates, as well as a combination of both, to identify and understand the very latest trends and tailor procurement strategy.
“The air freight market can prove exceptionally challenging when you’re trying to benchmark rates, assess availability and get the best value for your cargoes and businesses – and, since the advent of COVID-19, a new layer of complexity has spread over the entire industry,” said Xeneta CRO Paul Mullins.
“In such a dynamic environment, our customers find that contracted rates simply aren’t actionable and spot rates ‘play by a new set of rules’, with fluctuations that are both difficult to predict and stay abreast of. The result is a lack of visibility when businesses need it most.
“But by combining our up-to-the-minute rates data with CLIVE’s unique loadfactor and capacity analyses, we can give customers the accurate market intelligence they need to enter negotiations with confidence. We believe this creates a truly unique proposition right now.”
Niall van de Wouw, Managing Director of CLIVE Data Services, said: “Today’s air cargo market is more dynamic that at any time previously and that’s why businesses need the fastest and most accurate data.
“Companies must be able to make informed decisions, based on the latest trends and fluctuations in the market, which we see on a weekly basis. Xeneta clearly sees this too for customers who need a single, integrated tool to make smarter air freight decisions.”
In addition to its air freight market services, Xeneta is also the world’s leading benchmarking and analytics platform for ocean freight rates.
The Oslo-headquartered business offers intelligence gleaned from approximately 280 million contracted container freight rates, covering over 160,000 global trade routes.
