LONDON,UK: Windward (LON: WNWD), the Maritime AI Company, today launches its Ocean Freight Visibility solution, solving it believes one of the most critical issues currently affecting global trade.
The new solution uses Windward’s decade of AI and maritime domain expertise, IP and technology to offer a new product for the logistics market.
The Ocean Freight Visibility Product will alert freight forwarders and cargo owners to any potential delays to the shipping of their cargo in real time, allowing them to regain control of their containers’ voyage data, elevate the customer experience they provide while reducing operational costs.
With an ecosystem of over 250,000 Beneficial Cargo Owners and Freight Forwarders globally, Windward’s SaaS solution provides entry for the Company into significant new market segments. The first new customers have already been secured, including DSV, the Global Transport and Logistics business, Metro Shipping, the UK’s leading privately owned logistics provider to leading British and international brands, and Cargo Amerford, one of the leading logistics companies in Israel. All three have been design partners in the building of Windward’s Ocean Freight Visibility product.
The global supply chain has been severely disrupted during the COVID-19 pandemic. The maritime shipping industry transports around 90% of world trade, yet ocean liner reliability has also never been lower – with a mere 30-40% rate of on-time arrival. Meanwhile, the cost of shipping cargo has never been higher, with ocean freight rates up 1500% over the last two years. Windward believes improved supply chain visibility powered by large data sets and predictive insights will equip freight forwarders with the information necessary to respond effectively to constantly changing conditions, be it shifting weather, workforce shortages, or port backlogs.
The Company’s IPO that took place in December 2021 was aimed at providing Windward with more resources to accelerate its growth strategy, entering new markets as well as expanding within existing ones. The Company is pleased to launch the Ocean Freight Visibility solution relatively early in the year, allowing expansion into a new addressable customer base.
Ami Daniel, Co-Founder & CEO of Windward, “The current supply chain crisis has demonstrated just how little visibility there is on the whereabouts of maritime cargo. With some market commentators suggesting it will take years for a more ‘normal’ situation to return, the creation of solutions to help manage supply chain risk is critical to bringing more certainty to maritime trade. Freight forwarders are key to making the supply chain more efficient, and we are proud to bring our years of expertise in Maritime AI to give them real-time visibility and provide actionable insights for their shipments so they can provide a more competitive service.
“Our team has worked tirelessly to bring this solution to market, significantly expanding our addressable opportunity, and we are delighted to already welcome our first customers.”