Ocean trade platform to streamline booking and shipping instructions for COSCO customers
AUSTIN, Texas and SHANGHAI – [June 29, 2021] – E2open (NYSE: ETWO), a leading network-based provider of 100% cloud-based, mission-critical, end-to-end supply chain management software, and COSCO Shipping Corporation Limited (COSCO), a Chinese multinational transportation conglomerate, today announced an extension of their partnership through 2023. COSCO will continue to utilize the INTTRA by E2open (E2open) platform for a portion of its cargo shipment bookings and instructions.
E2open’s digital platform that manages more than 200,000 ocean freight container bookings a day, serves as a single, one-stop location where beneficial cargo owners (BCOs), logistics service providers (LSPs), freight forwarders and any other entity conveying goods can rate and book ocean shipments. E2open provides comprehensive booking services for ocean carriers through a well-maintained, secure and user-friendly system.
COSCO SHIPPING Lines is a fully owned subsidiary of COSCO SHIPPING Holdings Co., Ltd. By the end of December 2020, the company owned and operated 423 container vessels with a total capacity of 2.3 million TEUs. COSCO SHIPPING Lines operates 265 international services (including international feeder services), having anchors in 352 ports covering 105 countries and regions worldwide.
In addition to booking and shipping instruction submissions, COSCO utilizes E2open’s eVGM service to facilitate global container weight compliance by COSCO and its customers. The International Maritime Organization’s Safety of Life at Sea (SOLAS) Verified Gross Mass (VGM) amendment requires every container to have a VGM (or certified weight) in order to be loaded onto a ship. This eVGM service provides operational capabilities for digital submission, receipt, processing and auditing of SOLAS-compliant data for shippers and carriers.
“We are proud of the work we have done together and look forward to the continuation of our relationship with COSCO,” said Santosh Nanda, general manager at E2open. “From electronic booking to shipping instructions to eVGM, our expansive platform has and will continue to provide COSCO’s customers with the highest quality services and help them better navigate the current chaotic shipping environment.”
About COSCO SHIPPING Lines
As of February 28, 2019, the total fleet of COSCO SHIPPING comprises of 1,274 vessels with a capacity of 101.95 million DWT, ranking No.1 in the world. Its container fleet capacity is 2.94 million TEU, ranking the third in the world. Its dry bulk fleet (418 vessels/39.19 million DWT), tanker fleet (195 vessels/24.95 million DWT) and general and specialized cargo fleet (166 vessels/4.57 million DWT) are all topping the world’s list.
Thanks to its complete global service network, COSCO SHIPPING has become a top international brand. The upstream and downstream links along the industry chain, such as terminals, logistics, shipping finance, ship repair and shipbuilding, have formed a sound industrial structure. The Corporation has invested in 56 terminals, including over 51 container terminals, all over the world. The annual throughput of its container terminals amounts to 118.72 million TEU, taking the first place worldwide; the global sales volume of its bunker fuel exceeds 29 million tons, which is the largest in the world; and the container leasing business scale surpasses 2.7 million TEU, the third largest in the world. Its offshore engineering manufacturing competence and vessel agency business are also leading in the world.
At E2open, we’re creating a more connected, intelligent supply chain. It starts with sensing and responding to real-time demand, supply and delivery constraints. Bringing together data from clients, distribution channels, suppliers, contract manufacturers and logistics partners, our collaborative and agile supply chain platform enables companies to use data in real time, with artificial intelligence and machine learning to drive smarter decisions. All this complex information is delivered in a single view that encompasses your demand, supply, logistics and global trade ecosystems. E2open is changing everything. Demand. Supply. Delivered. Visit www.e2open.com.
E2open, the E2open logo and INTTRA by E2open are registered trademarks of E2open, LLC. All other trademarks, registered trademarks and service marks are the property of their respective owners.
Sales and Customer Information:
Diane Mitchell | VP, Marketing | E2open | Diane.Mitchell@e2open.com | 512-735-5692
WE Communications for E2open | email@example.com | 512-527-7029