Kuehne + Nagel Enhances Global Freight Rate Management - Global Trade Magazine
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  November 8th, 2016 | Written by

Kuehne + Nagel Enhances Global Freight Rate Management

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  • CargoSphere rate technology platform is a cloud-based contract and rate management solution.
  • Forwarder receives ocean freight rates directly from ocean carriers and uploads into a centralized rate base.
  • Incorporating direct ocean carrier rate distribution eliminates manual processing.

Kuehne + Nagel, the global freight forwarder, has signed up to implement the CargoSphere Rate Technology Platform across its entire organization. As part of Kuehne + Nagel’s digital solution to bring greater value to its customers, it adds CargoSphere for advancing its digital model for sea freight services, including moving to direct carrier rate connections in the CargoSphere Rate Mesh.

The CargoSphere rate technology platform is a cloud-based, systematized contract and rate management solution that provides the CargoSphere user community with accurate and collaborative rate distribution, sharing, comparison and quoting, as well as the ability to self-publish Federal Maritime Commission tariffs. The CargoSphere Rate Mesh connects shipping partners for seamless, confidential rate collaboration in real-time to simplify rate communication and provide a faster, more effective way to receive and distribute freight rates.

An important aspect of Kuehne + Nagel’s digital evolution in sea freight is the ability to receive ocean freight rates and subsequent rate updates directly from ocean carriers for an immediate upload into its centralized rate base in the CargoSphere cloud.

Benefits of incorporating direct ocean carrier rate distribution into Kuehne + Nagel’s CargoSphere platform include elimination of manual processing; faster access to accurate, current rates for quoting to customers increases efficiencies; and improved data quality. Ocean carriers can also increase their booking potential when customers have faster access to accurate, current rates.

“CargoSphere’s innovative approach to freight rate management is an important component of our digital evolution,” said Thorsten Meincke, Senior Vice President, Global Seafreight at Kuehne + Nagel. “We share a common vision with CargoSphere that encompasses using technology to improve the time-consuming, inefficient aspects of sea freight rate management. New, fresh ways to approach longstanding rate practices is what we have discovered in CargoSphere. By further enhancing our sea freight operations with CargoSphere we will achieve a faster, better process for managing sea freight rates and better data quality. Through this we can bring even greater value to our customers.”