Reducing Global Logistics Costs with Benchmarking and Shipping Container Pricing Transparency
The multi-modal container company, as we know it today, just turned 60 years old on April 26, 2016, when shipping innovator and entrepreneur Malcom McClean shipped 58, 35-foot trailer vans, later called containers, from the Port Newark-Elizabeth Marine Terminal, New Jersey, to the Port of Houston, Texas. Today, well over 90% of all non-bulk cargo (see sidebar) is shipped in containers worldwide with the shipment volume being measured in the hundreds of millions of containers. This leads to the realization that container prices are a logistics cost that companies should be managing closely for potential opportunity. Even for large shippers, who already negotiate directly with container companies, rather than through brokers or forwards, the question is how do they know where they stand on the contract rates they are paying? Therein lies the challenge.
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