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London, UK, 5th November 2014 – Shipping consultancy Drewry and shipment management software solutions provider CargoSmart have expanded their cooperation agreement to cover a broader exchange of market intelligence data on the container shipping market.

The two companies first announced their cooperation agreement in April 2012, when Drewry began using data from CargoSmart to augment its coverage of ocean carrier service reliability on key container shipping trades.

“This broader collaboration will enable Drewry to take greater advantage of the data available from CargoSmart’s system,” said Martin Dixon, Director Research Products at Drewry. “It allows Drewry to bring more value to its customers and provide greater transparency on key aspects of the container shipping market.”

Drewry chose CargoSmart for its comprehensive, high quality data, which is essential for the information to be effective for decision making.

“CargoSmart’s shipment management software captures key data and metrics on the performance of the container shipping supply chain,” said Steve Siu, Chief Executive Officer at CargoSmart. “We collect this data from multiple sources and analyse it to improve its completeness, accuracy and timeliness. We are honoured to be extending our cooperation with Drewry to make this information more widely available as a decision making tool.”

Drewry was the first company to introduce independent schedule reliability KPIs and container freight rate benchmarks in 2006. Eight years on, Drewry intends to bring more transparency, accountability and comparability in other key aspects of the container shipping supply chain, through its partnership with CargoSmart.

CargoSmart offers solutions that help shippers, consignees, logistics service providers, and NVOCCs manage their shipments throughout the supply chain. It provides global shipment management software solutions that enable companies to increase delivery reliability, lower transportation costs, and streamline operations.

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