The partnership between DP World’s SeaRates and the Singapore-based CP World Group has resulted in a 39% increase in Less-than-Container-Load (LCL) bookings and improved shipment tracking for small cargo owners.
DP World said that just one year after its partnership announcement with CP World, SeaRates' digital freight forwarder platform is seeing major growth in its LCL bookings — benefitting smaller cargo owners with the streamlined logistics processes, real-time information, and enhanced efficiency when moving cargo from A to B.
"This new market and customer base for SeaRates are seeing CP World optimise container space, efficiently consolidate LCL shipments, provide cost savings for shippers, and contribute to a more sustainable global supply chain," the announcement said.
DP World noted that the partnership with CP World means that customers moving less than a full container load now have greater access to competitive rates, the latest transit times, CFS details and sailing schedules across 1,000 destinations, serving eight regions: Asia, Africa, North America, South America, Europe, Pacific, Middle East, and Central America.
This is particularly advantageous for those moving seasonal or promotional products that may not necessitate a full container.
Growing demand for LCL transport
"The compounded monthly growth rate for bookings from December to March 2024 highlights the growing demand from SMEs, startups and individuals who require access to international trade but have previously not been able to enjoy the same level of benefits as their bigger counterparts," DP World said.
It added that by providing access to LCL shipments through an online platform, smaller customers are now benefitting from more flexibility in their bookings, fuelling their growth in turn.
"Our partnership with CP World has seen strong growth on the platform, as we've been able to open up a new customer base and market to cater to smaller cargo owners who still want the same services as their larger counterparts. Providing LCL shipments with the same real-time tracking and traceability capabilities through a digital platform is a major step forward in creating sustainable long-term supply chains for all," said Mike Bhaskaran, COO of Digital Technology at DP World.
He added that SeaRates is a "truly universal platform" catering to businesses of all sizes.
Ken Chiang, group CEO of CP World, said that one year on from our strategic partnership with SeaRates, the company is already seeing "significant growth" in the number of bookings from smaller cargo owners.
"By offering a worldwide LCL Network with comprehensive LCL ocean freight rates and services via an easy-to-book digital platform, we are able to create sustainable solutions for all shippers, no matter their size," Chiang added.
