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Ocean Freight Contracts - How do you Benchmark?
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Ocean freight rates on the major East-West routes have seen a sharp reduction this year. Contract negotiations are starting. How do you benchmark? What indicators do you use to know if you are achieving the best shipping rates, the best service?
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RE: Ocean Freight Contracts - How do you Benchmark?
1/18/17 4:39 PM as a reply to Editor Nick Matyas.
Well i read this article from logisticsmgmt.com and this is according to Drewry's Benchmarking Club, a group of closed user of manufacturers and multinational retailers that monitors their freight contract rates. For now go with the flow and check competitors rates so that the planning of new strategies will have a basis just to have an ideal rate and contract.

Regards,
BR International Logistics Freight Forwarder Australia
http://www.brint.com.au/services/freight-forwarding
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RE: Ocean Freight Contracts - How do you Benchmark?
3/7/16 11:34 AM as a reply to Emelia Ingram.
We all know there is very little visibility of ocean contract rates on the majority of container moves. I'm a little skeptical of Drewry's Benchmarking Club which says they provides members (importers and exporters but not freight forwarders or NVOCCs) the opportunity to benchmark shipping costs against their peers to aid in the freight procurement process.

Drewry further says "The concept of Drewry’s Benchmarking Club is that member organizations provide their contract rates confidentially to Drewry. In exchange, we aggregate these with other members' rates and anonymously provide benchmark contract rates based on an average of the submitted rates."

It sounds like a 'too good to be true' scheme which can be easily manipulated without the responsibility of transparency.
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