Global Maritime Transportation Services Unveils Real Time Industry Indices

Global Maritime Transportation Services Unveils Real Time Industry Indices

Jan 7, 2013

SHELBURNE, Vt. — In a development that is expected to transform the ocean transport industry, Global Maritime Transportation Services (GMTS) today unveiled BOTE Charts. The patent-pending software, one of a new suite of GMTS software modules, is a live, 24/7 information feed offering the ability to index by trade, port pairs, commodity, equipment size, and type of market rates.

“Prior to BOTE Charts,” GMTS President Ted LeBlanc said, “indices were dated and provided little insight into actual commodity, port pair, equipment and trade-related pricing. There’s been little or no relevant information on which to base market driven analysis.”

The GMTS unveiling comes at a time when rates have been volatile, making it difficult for shippers and carriers to manage risk. The U.S. Federal Maritime Commission reported that this volatility has sparked requests from several large U.S. shippers, intermediaries and derivative brokers in the past year for more timely indices.

BOTE Charts is a realistic and uncompromising resolution to both the carrier community and the cargo owner in terms of its index rendering, Le Blanc said.

A long-time industry leader, Rudiger (Rudy) Mack spoke to the analytical abilities and speed that BOTE Charts offers. “The industry’s best CFO’s have never been able to provide this depth of analysis as quickly or accurately as BOTE Charts delivers with a few clicks,” said Mack, currently president of Rudy Mack Associates.  “While I’ve seen many systems, this one is the most comprehensive, integrated and cost effective.”

The GMTS unveiling also included:

  • BOTE Rates – The backbone to its suite of products, BOTE Rates is a fully compliant service contract, NSA, NRA, and tariff management system.
  • BOTE Quotes – Provides email integration of rate quotes in which customers may accept reject or counter offers right from their email.
  • BOTE Docs – Provides an integrated bill of lading process which pulls rates directly from tariffs or contracts to ensure proper rating and far faster than auto rating.
  • BOTE Collector – Is a rate comparison tool unlike anything available today by any other vendor.

The BOTE suite of software modules offers a unique and integrated solution to the Vessel Operating Common Carrier (VOCC), the Non-Vessel Operating Common Carrier (NVOCC) and Freight Forwarder markets, LeBlanc said.

“While BOTE Rates complies with the U.S. regulatory environment, it is the one tool that can be used globally to satisfy tariff and contract management needs irrespective of whether you need to meet the U.S. regulatory requirements,” explained Joe De Braga, GMTS Senior Vice President.