Ocean Freight Exchange is a data-centric AI platform that connects ship owners and charterers in the dry bulk, tanker, and gas freight markets, utilizing natural language processing to automate cargo position extraction from emails. The platform enhances operational efficiency by saving brokers over three hours daily and increasing their revenue potential by four times through streamlined vessel and cargo matching.
Funding
$6.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Ship owners and charterers in the dry bulk, tanker, and gas freight markets face challenges in efficiently matching vessels and cargoes due to manual processes and fragmented information. Brokers spend significant time extracting cargo positions from emails and lack comprehensive tools for evaluating vessel quality and market trends. This inefficiency leads to lost revenue opportunities and increased operational costs.
Solution
Ocean Freight Exchange (OFE) is an AI-powered platform designed to streamline the connection between ship owners and charterers in the ocean freight market. OFE automates cargo position extraction from emails using natural language processing, saving brokers valuable time. The platform provides tools for live tonnage management, vessel comparison, voyage calculation, and fixture history analysis. By centralizing data and applying predictive analytics, OFE enables users to make informed decisions, maximize vessel value, and increase revenue potential.
Target Audience
The primary target audience includes ship owners, charterers, and freight brokers operating in the dry bulk, tanker, and gas freight markets.
Features
- AI-powered email parser to automatically extract open positions from emails
- Live tonnage management with standardized vessel details, open port, and open date
- Ship Rank comparison tool to evaluate trading values for commercial vessels
- Voyage calculator with drag-and-drop functionality, including details on over 56,000 vessels
- Fixture history database, filterable by commodity, ports, laycan, price, and charterer
- Predictive analytics using decision trees, neural networks, and Naïve Bayes models
- Customizable results delivered via email, SFTP, web interface, or API