INTTRA, the e-commerce platform for the ocean freight industry, has 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. This significant commitment from carriers represents an endorsement of INTTRA's new vision and provides the foundation for carriers to continue to receive cost savings and efficiencies from the INTTRA platform.
The new contracts are part of a longer-term strategy to expand INTTRA's e-commerce services and products for carriers and their shipping partners. This commitment from INTTRA's leading carriers in part will fund new product development, while underpinning INTTRA's unwavering focus on continuous business process innovation for ocean carriers.
With an unrivalled global network of 20,000 corporate locations and the economies of scale inherent in its e-commerce platform, INTTRA has become an integral part of carrier cost reduction strategies. Since INTTRA launched eight years ago, it has lowered the average cost of key business processes for carriers by sixty percent. Today, more than 260,000 container orders are initiated on the INTTRA platform each week, representing more than 10 percent of global ocean container trade.
"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," said Ken Bloom, Chief Executive Officer of INTTRA. "For all our carriers we are pleased to say that, in these tough times, e-commerce volumes continue to increase. INTTRA has logged increased year-on-year volumes and has grown in the last quarter by 12% as carriers seek to gain more cost savings from their business processes."
