INTTRA acquires Avantida to enhance intermodal container moves
By the reckoning of some prominent analysts, the company has captured more than a quarter of the industry’s share by making such moves, but this development may not necessarily make INTTRA outre.
INTTRA, a global trade platform for the ocean cargo industry, has announced the purchase Belgium-based Avantida in a bid to provide shippers with coordination of land and ocean container movements.
By the reckoning of some prominent analysts, the company has captured more than a quarter of the industry’s share by making such moves, but this development may not necessarily make INTTRA outre.
According to spokesmen, this purchase will provide additional value for existing and new customers. Avantida's core business - digitized, automated container reuse and repositioning - addresses a major challenge for ocean carriers, transport companies, terminals, depots, and other stakeholders.
Industry experts estimate that empty container positioning costs the ocean shipping industry up to $20 billion a year, approximately 40 percent of handling costs.
“Acquiring Avantida advances our strategy of extending our reach into the intermodal value chain,” says INTTRA's CEO, John Fay.
Chris Rogers is the research director for Panjiva, an online search engine with detailed information on global suppliers and manufacturers. He says that this deal has parallels across different technology verticals, where service providers seek to increase their relevance to customers by offering an ever-broadening suite of products.
“The challenge is to ensure proper integration of the different acquisitions into a standard platform,” he says. “I don't think at this stage we are anywhere near a 'Facebook for trade', but given all the recent announcements of platform deals and acquisitions (for example Maersk, CMA-CGM and Zim with Alibaba) the shipping industry is at least finding its way into the 21st century.”
Luc De Clerck, Avantida's CEO, says his company intends to leverage technology innovation to digitize and transform a multi-billion dollar market that is central to global trade.
“INTTRA's global network will enable us to accelerate product adoption in Europe and around the world,” he adds.
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