Flexport has launched OceanMatch, a new data-informed ocean freight consolidation offering which identifies available container space on compatible shipments.

According to Flexport, the new service enables shippers to access the benefits of full-container-load freight without the need to fill or pay for a whole container.

Prorated pricing means that shippers only pay for the part of the container they use instead of the entire container, saving up to 35% per shipment.

In contrast with traditional less-than-container-load shipments, OceanMatch consolidates a maximum of just three shipments of complementary cargo with the same point of origin, final destination and type of commodity to a container, reducing time spent loading and unloading individual shipments.

“Shippers have always had to choose between shipping cadence and container utilization,” said Ram Siddarth, vice president of ocean consolidations at Flexport. “If you chose to purchase in smaller quantities or if your factory couldn’t produce enough inventory on time to fill up a container, you had no choice but to sacrifice container utilization and ship a partly empty container, or risk disrupting your supply chain. OceanMatch lets Flexport customers optimize for both speed and efficiency, all powered by data.”

In a pilot carried out in the fourth quarter of 2018, OceanMatch helped shippers moving freight on the eastbound trans-Pacific trade lane save five days compared to traditional LCL transit times.

LCL cargo used to complete an OceanMatch container will receive the same priority level as a traditional FCL shipment, meaning cargo is unloaded and dispatched first upon arrival. Clients who traditionally ship only once per week can now further secure their supply chains by shipping at least twice per week using Flexport OceanMatch at only marginally increased cost.

“The most important goal of Flexport’s technology-first approach to freight is that we unlock new opportunities for our customers,” said Ryan Petersen, CEO and founder of Flexport. “That’s why we are making meaningful investments in technology, infrastructure and expertise. The launch of OceanMatch is a key example of our Operating System for Global Trade coming to life. Where other freight forwarders see shipments as just a 20- or 40-foot container, our data tells us this is 1,000 pairs of shoes and that’s 100 mountain bikes. It’s that insight that lets us do more for our clients’ shipments and supply chain priorities.”

FCL containers imported into the US in 2018 were on average only 65% utilized, according to a review conducted by Flexport.