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What is FreighTech?

Tomas Swinburne
Apr 07, 2020
Shipper working with FreighTech solutions on their computer

FreighTech is revolutionizing how we ship ocean freight. While the freight industry has been slow to adopt technology to streamline shipping, the last few years have seen an explosion of tech in freight. The FreighTech term includes digitalization, Internet of Things (IoT), machine learning, predictive analytics, and many others, which is changing the world of ocean shipping dramatically.

But what exactly is “FreighTech,” and why is it so important for your business?

FreighTech Definition

FreighTech is a portmanteau that combines the words “freight” and “technology.” This combination refers to companies that use technology to provide more effective freight services and assistance to shippers, freight forwarders, NVOCCs, and carriers throughout the shipping supply and demand chain.

As a disruptive element in shipping, it’s also little wonder that FreighTech-related companies have received substantial investment over the last few years.

Growing Investments in FreighTech

Investment in FreighTech is growing fast. For example, there was $1.3 billion of investment in 2017 and $2.9 billion in 2018. These investments continued to grow steadily in 2019 as well.

From FreightWaves receiving investments of up to $20 million to Flexport receiving $1 billion, investors and FreighTech companies understand that there is a gap in the ocean freight market. Likewise, Maersk and Hapag-Lloyd have invested heavily in their digitalization strategies to create asset-heavy freight solutions.

While many industry players continue to operate through traditional means such as telephone, fax, and paper documents, FreighTech is already a reality that is changing how we ship cargo.

Benefits of FreighTech

FreighTech is revolutionizing every aspect of shipping. From the port of loading to the port of discharge, new solutions are creating greater efficiency and stronger margins.

By adopting these solutions, you can reap the benefits of:

  • Global, real-time sailing schedules
  • Reliable data
  • Real-time alerts and notifications
  • Global container tracking capabilities

Added to that, FreighTech can also improve your operations by offering:

  • Online bookings
  • Instant quotes
  • Digitalized document management
  • Contract and rate management

However, while many solutions can significantly improve your shipping operations, they need to be consolidated into one digital space.

FreighTech and Digitalization

Digitalization is the framework in which all FreighTech solutions can be consolidated together to form ecosystems to streamline shipping. From online booking platforms to satellite tracking, these solutions need a central hub.

We at BlueX are that hub, and we’re pushing the FreighTech movement in ocean shipping.

Become Part of the Movement with Blues

Revolutionizing shipping with FreighTech is part of our DNA at BlueX. By bringing together tech knowhow from Silicon Valley and expertise from the shipping industry, we’re creating a new way to ship — The BlueX Open Freight Marketplace.

However, as much as we can provide digitalized platforms through our OFM, we still need influential shippers to be a part of our discussions with ocean carriers to revolutionize how we all ship cargo. That’s where our Ambassador Program comes in.

Join the BlueX Shipper Ambassador Program

By joining our exclusive BlueX Shipper Ambassador Program, you can be part of the movement to promote our Open Freight Marketplace to your ocean carrier(s). By adopting our white-label solution, ocean carriers can provide the following benefits through BlueX:

  • Real-time pricing metrics
  • Instant digital bookings
  • Specialized freight offerings
  • New online 3PL services throughout the entire shipment cycle

BlueX OFM

We’ve already made waves in ocean shipping with our partnership with Evergreen Line to create their online booking platform, GreenX. Now, we need to extend the same capabilities across all ocean carriers.

Learn more about the BlueX Shipper Ambassador Program and apply now.