Logistics provider De Well Group plans to market and sell ocean container capacity available through the JOC Exchange, an online private marketplace for shipping customers.
The De Well Group, a Shanghai-based freight forwarder and NVOCC, will provide the e-commerce solution to a select group of its customers as a service on its own Web site.
The company will start the service by providing its customers with the ability to buy space on the eastbound trans-Pacific trade from Shanghai to all U.S. ports. De Well moves over 120,000 20-foot equivalent units annually of U.S. import cargo on the trans-Pacific.
The JOC Exchange, which is operated by UBM Global Trade/The Journal of Commerce, is an electronic marketplace for the buying and selling of ocean capacity, enables sellers of ocean container capacity, including ocean carriers and non-vessel-owning common carriers, to sell capacity to their invited customers. The seller posts available capacity and rates, and offers shippers the ability to secure space and enter into a binding contract for that vessel space.
The De Well Group said the JOC Exchange fits into its strategy of making it easy for its customers to do business with it by allowing it to instantly communicate rates and capacity to them and giving them the ability to buy that capacity around the clock. The service is designed to simplify the process for buyers to review capacity availability and to secure that capacity with a few mouse clicks, and is expected to bring significant efficiencies to the process of marketing, selling and buying containerized ocean capacity.