Ocean freight benchmarking: Comparing bid invitation results with market data

Ocean freight benchmarking. Full transparency. In real time.

Volatile ocean freight markets confirm the perception that prices often change quickly. In this case, how should the quotations at the end of an ocean freight bid invitation be evaluated? At the quoted prices at the high or low end of the market? Benchmarking provides the answer.

It integrates real-time benchmark data from the TIM CONSULT database into the analysis module of TICONTRACT. This combination provides a comprehensive collection of market prices, available quotation prices and base prices at the perfect time (right before the contract negotiations).

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The situation in ocean freight markets

  • Ocean freight markets are dominated by a volatile environment

  • High price deviations between shippers on the same lane at the same time are common

  • Intransparent markets with not always understandable massive price changes make things difficult to predict

Questions arising

  • Does it make sense to compare the result of a current RFP with existing rates which are probably 6 months or even 1 year old?

  • Is what I received as offers in my current bid really in line with the ocean freight market environment?

  • Where in the current ocean freight market are those offers allocated? Are they average or even Best-in-Class?

  • What has been the ocean freight market development and the market trend since the last RFP?

The solution provided by TICONTRACT and TIM CONSULT

Integration of real-time benchmark data coming from the TIM CONSULT database into the analysis module of the TICONTRACT RFP platform. This combination delivers the perfect bundeling of all relevant market and company information at the perfect point in time: right before the start of the contract negotiations with your carriers. With this package you will be prepared for your meetings perfectly.

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More about TIM CONSULT
  • Leer Fahrten vermeiden
  • Leer Fahrten vermeiden
  • Leer Fahrten vermeiden
  • Leer Fahrten vermeiden


  • Definition of bid structure

  • Analysis of benchmarking coverage within the RFP

  • Data cleansing and data preparation

  • Integration of live-rates at the end of bid in the analysis module of TICONTRACT

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