FreightWaves and project44 on Monday announced an agreement to bring project44’s ocean visibility data to the FreightWaves SONAR platform. This partnership, which debuts this week at FreightWaves’ Global Supply Chain Summit, provides SONAR customers with the world’s highest quality data and insights on ocean market conditions.
Project44’s ocean visibility data, enhanced through proprietary machine learning, covers 96% of the world’s container volumes with unmatched completeness, accuracy, latency and fidelity. As part of the agreement, project44 is providing lane- and port-level insights around dwell times, rolled shipment rates, and delays. These indices are early indicators of supply chain stability as well as macro-level demand and supply. When they increase beyond normal levels, shipment delays, price increase, and inflation tend to follow.
FreightWaves is presenting this project44 data in SONAR alongside an array of other ocean data. SONAR customers — shippers and 3PLs in particular — can use this ocean visibility data to manage emerging supply chain disruptions and to evaluate performance, reliability, and transport network design as the industry goes into contracting season. This information will be available in the FreightWaves SONAR platform as well as within FreightWaves APIs.
“The global supply chain has never been more necessary than it is today, and project44 is the connective tissue that holds the global system together,” said Craig Fuller, founder and CEO of FreightWaves. “Through the integration of SONAR and project44’s data streams, we are uniting two great platforms to provide customers unrivaled intelligence and insight into global supply chain activity and cargo movement. Clients of SONAR will now enjoy the world’s freshest and deepest insights across all modes of transportation, anywhere.”
“In keeping with our open-ecosystem mentality, we’re delighted to partner with FreightWaves on bringing ocean visibility data to an even broader audience,” said Adam Compain, SVP of Data Insights at project44. “For resilience against today’s supply chain challenges, companies need access to the highest quality ocean insights. With project44’s unparalleled investment in data science and vision for a transparent logistics network, project44 and FreightWaves jointly meet this demand.”
Project44’s API-first, open ecosystem, which includes SAP and Google Cloud, will now be available to FreightWaves SONAR subscribers who count on SONAR for unparalleled market intelligence. This new data can be found in SONAR at tickers P44ORI, P44ODTPOL, P44ODTTSP, P44ODTPOD, and P44OPPD.
As part of the Global Supply Chain Summit, Compain joins FreightWaves’ Strategic Analyst JP Hampstead on Monday for a fireside chat beginning at 11:15 a.m. ET.
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