Chainalytics, a global leader in supply chain consulting, and Drewry, the global shipping consultancy, have launched an ocean freight procurement solution for shippers.

The Chainalytics Ocean Buying Group, in partnership with Drewry, will provide participating beneficial cargo owners (BCOs)—a.k.a., shippers– with enhanced purchasing power, service monitoring and cost transparency.

Created with the aim of being a catalyst for a level industry playing field, the ocean freight procurement platform is designed as a shared intelligence tool that medium and small-scale importers and exporters can use to achieve big shipper rates and terms.

“By combining propositions,” said Philip Damas, head of Drewry’s supply chain advisors practice, “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.”

“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,” said John Westwood, senior manager of Chainalytics’ transportation practice. “Our partnership with Drewry further enhances our clients’ capabilities to competitively acquire ocean freight services.”