UBM Global Trade Launches Container Shipping Exchange

Online tool through new JOC Exchange subsidiary will enable spot transactions


UBM Global Trade, the parent of The Journal of Commerce, will launch a container slot e-marketplace this month called JOC Exchange that will use intelligent online technology to enable the buying and selling of spot market container slots.


UBM will host the online marketplaces “in the cloud,” making them accessible to global spot sellers and buyers of containerized ocean capacity.


“UBM Global Trade’s mission is to serve the global transportation markets with a range of information, data and services that enable that market to operate effectively and efficiently for the benefit of all participants,” said John Day, CEO of UBM Global Trade. “We look forward to taking JOC Exchange, an ingenious technology backed by the formidable resources of UBM, and bringing forward an effective set of solutions to the complex processes surrounding the selling and buying of available container slots.”


He said UBM Global Trade’s goal with the JOC Exchange is to bring to the market greater transparency and liquidity for both ocean carriers and customers and to make the selling and buying process for the spot market business faster, less labor intensive, and more efficient.


JOC Exchange is headquartered in Denver, Colo., and will open satellite offices in Europe and Asia in 2011, said Mark Storen, CEO of JOC Exchange.


"There is a growing interest and focus on spot market transactions in the ocean transportation sector,” said Storen. “The commitment of UBM Global Trade will enable us to offer and deliver this technology on a global basis, allowing quick adoption of the service and providing liquidity for sellers and buyers.”
(Source:http://www.joc.com)