Truckstop.com, a provider of transportation technology and load board solutions, has established a partnership with Chainalytics, a specialist in supply chain intelligence products, to combine contract and spot rates from both databases into a single product on Truckstop.com’s Rate Analysis platform.
The move comes as logistics costs have become volatile over fuel costs and challenges of faster delivery, with transportation playing a pivotal role in creating greater efficiency. It’s similar in nature to Freightos’ recent deal with Baltic Exchange to launch the Freightos Baltic Index to create a snapshot of the global shipping container market augmented by 12 additional regional indexes.
“The freight community can only grow with access to robust and accurate data,” Paris Cole, CEO of Truckstop.com, said. “Truckstop.com’s partnership with another data-driven thought leader like Chainalytics is a game changer for all parties concerned with contract and spot rates data. It is partnerships like this one—bringing both types of best-in-class data to one screen—that move the freight community forward in ways the industry has never seen before.”
The partnership was announced at Truckstop.com’s annual user conference, Connected, in Dallas this week, and is meant to provide increased visibility into contract and spot rates from a single screen, starting with Truckstop.com’s strategic Rate Analysis platform and following with the transactional RateMate tool.
Gary Girotti, executive vice president of Chainalytics, said, “Through this partnership, we’ll provide a solution for logistics service providers to gain greater visibility into contract and spot rates anywhere in North America in one place. Over time, we believe Chainalytics’ Freight Market Intelligence Consortium’s wealth of contract freight rate data, combined with Truckstop.com’s extensive spot-rate insight, will allow us to accurately predict where future rates are headed so customers can efficiently manage their transportation budgets and operation strategies.”
The companies said further details and information on the product partnership will be announced in the coming weeks.