INTTRA, an e-commerce platform for the ocean freight industry, entered into long-term agreements worth more than $100 million over the next three years.
INTTRA, an e-commerce platform for the ocean freight industry, entered into long-term agreements with Maersk Line, MSC, CMA CGM, Hapag-Lloyd and Hamburg Sud for e-commerce and professional services worth more than $100 million over the next three years. INTTRA said the new contracts are part of a longer term strategy to expand the company's e-commerce services and products for carriers and their shipping partners. Currently, more than 260,000 container orders are initiated on the INTTRA platform each week, representing more than 10 percent of global ocean container trade, according to INTTRA.
Ken Bloom, chief executive officer of INTTRA, said, "This is a very challenging market for our carriers, so INTTRA is particularly pleased that many of our carriers have entered into long term contracts with us. We are committed to creating more efficiency for this market through new and existing products and services."
Bloom added that despite the economic downturn, e-commerce volumes continue to grow. "INTTRA has logged increased year-on-year volumes and has grown in the last quarter by 12 percent as carriers seek to gain more cost savings from their business processes."
INTTRA works with over 30 leading carriers to streamline and standardize their shipping processes worldwide through a network of over 20,000 corporate locations, Bloom said.