Global Freight Market Announced
An international port services company has teamed up with a leading Internet software developer to create what the partners say is the first online, world-wide transportation marketplace.
An international port services company has teamed up with a leading Internet software developer to create what the partners say is the first online, world-wide transportation marketplace.
Hutchison Port Holdings of Hong Kong, which operates 120 berths in 18 major world ports, and Oracle Corp. of Redwood City, CA, will operate the Global Transport eXchange (GTX) aimed at an $800-billion international freight industry.
Based on Oracle's e-business marketplace platform, GTX will offer an online marketplace to shippers, freight forwarders, manufacturers, and logistics companies to trade in trucking, air-freight, rail, shipping and warehouse capacity. GTX is expected to provide a marketplace for other business-to-business exchanges as well.
According to a press release, GTX customers will be able to buy or sell transport capacity of any volume and any value at any time over the Internet. The service is expected to be up and operating in the 3rd quarter of 2000.
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