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Freightos establishes global rate calculator

The freight rate marketplace provider unveiled an algorithm-based tool for ocean, air and trucking modes that can be integrated through an application programming interface (API).

The digital global freight rate marketplace provider Freightos said this week it has begun offering a freight rate calculator.

The new tool provides instant and real-time full container load (FCL), less-than-container load (LCL), air and trucking door-to-door freight estimates. The calculator is currently being launched as a public beta.
It is intended to allow retailers, exporters, distributors and wholesalers to get immediate freight rate estimates for ocean, air, and trucking shipments across the globe, with the optional ability to book some of those rates on the Freightos marketplace.

The tool can be embedded into websites, either by embedding the actual calculator or via an application programming interface (API).
The calculator, Freightos said, is based on routing and pricing algorithms that calculate fees and surcharges for trucking, air and ocean shipping, as well as anticipated ranges for shipping along different lanes by a variety of modes. An alternative version also exists, which provides freight shipping estimates directly to warehouses participating in the Fulfilled by Amazon program.

“The global economy needs dynamic, transparent data but global shipping has been a bottleneck,” said Freightos Founder and CEO Zvi Schreiber. “Our freight rate calculator brings us one step closer to our goal of transparent freight. We anticipate this will provide a leg up to small and medium-sized businesses that can benefit from access to instantaneous and comprehensive freight estimates at real time market rates.”

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