Kolkata: mjunction services limited, India’s largest B2B e-commerce company, has helped derive the best ocean freight rates on its online platform for 28 million tonnes of cargo spread over 480 shipments, in FY18. This has happened through import of essential commodities like met coal, thermal coal and limestone among other things, and export of semi-finished and finished steel products.
Since 2014, mjunction has been providing these services for the first time in the country, transforming an age-old manual process, eliminating human discretion and guaranteeing equal opportunity and transparency. Freight rates have been discovered online for around 1000 shipments, covering 64 million tonnes of cargo worth Rs 5920 crore, since then.
mjunction CEO Mr Vinaya Varma said, “mjunction’s extensive domain knowledge sets it apart from being merely a reverse auction platform, which means our platform can be customised to suit diverse client requirements. We are now looking to tap other product categories such as minerals, power, cement, fertiliser and containerised cargo.”
mjunction’s ocean vessel chartering service enables the client to obtain the best available market rates within a short cycle time. It provides enhanced geographical reach, enabling vessel owners/operators/brokers to bid from any part of the world. The platform ensures the best price using online competitive bidding, thereby providing equal opportunities to all participants.
The e-platform consists of an automated end-to-end process for floating the requirements to the market, technical evaluation of offers and negotiation of rates without revealing any identity. It is a “win-win” solution for all stakeholders by deployment of latest technology and relevant processes.
With diverse requirement patterns across diverse industries, clients have their unique freight procurement requirements and strategies. With mjunction’s domain expertise, it specialises in providing customisable, client-specific solutions, making it stand out from others in the market.
Today, mjunction has an established and readily available network of more than 200 internationally reputed ship owners, operators and more than 75 brokers spread across Asia and Europe.
mjunction has succeeded in making a global footprint by becoming an integral part of the supply-chain of world reputed manufacturing units, both for their import of raw material and export of finished and semi-finished products into and out of India and Europe.