GLOMAP.COM SEAFREIGHT EXCHANGE ADDS CONTRACT TENDER PRODUCT

GLOMAP.COM SEAFREIGHT EXCHANGE ADDS CONTRACT TENDER PRODUCT

   GloMaP.com, the Internet sea freight exchange based in Hamburg, has introduced an online tender tool for the management of large contracts with permanent business partners.

   The German company, which started trading in June last year, said that this new feature makes it possible to negotiate on the Internet “transport contracts containing numerous and very complex clauses, such as yearly contracts of containerized cargoes or bigger break-bulk or project cargoes.”

   GloMaP said that about 120,000 TEUs of sea freight have been placed on its exchange since last June.

   Since March of this year, the company has expanded its network by opening representative offices in Australia, India, Pakistan, Scandinavia, Italy, and in North and South America.

   GloMaP said that revenues on its exchange now cover 25 percent of its investment, including the cost of running the marketplace.

   The contract tool introduced by GloMaP complements its initial product based on freight auctions for the spot market.

   GoCargo.com, the New York-based sea freight spot marketplace, ceased trading last month.