Welcome to our dedicated page for Freightos Ordinary shares news (Ticker: CRGO), a resource for investors and traders seeking the latest updates and insights on Freightos Ordinary shares stock.
Freightos Limited Ordinary shares (symbol: CRGO) trade on the Nasdaq, representing a global leader in the international freight industry. Freightos offers a vendor-neutral, comprehensive booking and payment platform designed to streamline international shipping. By leveraging its software-as-a-service (SaaS) technology, Freightos enables freight forwarders and carriers to manage contracts, automate quotations, and handle the sales process directly through their own websites.
The company's flagship platform, WebCargo by Freightos, connects carriers and forwarders through an air cargo eBooking system, featuring partnerships with over 30 airlines and 3,500+ forwarders across 10,000 offices. This includes major airlines such as China Southern, American Airlines, and Lufthansa, which collectively represent a significant portion of global air cargo capacity.
Freightos also operates Freightos.com, an international freight marketplace offering instant pricing, booking, and shipment management. This platform supports the supply chain efficiency of over ten thousand importers, exporters, and forwarders, providing real-time procurement options for both ocean and air shipping.
In recent developments, Freightos has announced a series of strategic partnerships to enhance its service offering:
- Partnership with JALCARGO: This collaboration allows freight forwarders using WebCargo to eBook air cargo capacity with Japan Airlines, enhancing trade routes between Europe, Japan, and other Asian countries.
- Integration with Fits Cargo: Fits Cargo's air freight capacity is now available on WebCargo, extending its reach across global markets including Dubai, India, and Hong Kong.
- Collaboration with Singapore Airlines: This enables digital bookings for Asia-Pacific destinations, further strengthening Freightos' presence in the region.
- Expansion with United Cargo: United Cargo has joined WebCargo's digital booking platform, expanding service offerings in Europe, with plans to roll out to the U.S. and Canada.
- Partnership with Thai Airways: Thai Airways will offer real-time booking, pricing, and payments through WebCargo, enhancing digital access to its extensive air cargo network.
Financially, Freightos has reported strong performance in Q1 2024, with a 29% year-over-year growth in transactions and a 14% increase in Gross Booking Value. The platform's broad acceptance is evident through the rise in unique buyer users and the expanding carrier network.
Led by CEO Zvi Schreiber, Freightos is dedicated to digitalizing the freight industry, fostering greater efficiency, transparency, and cost-effectiveness in global shipping. The company's ongoing initiatives aim to sustain its growth trajectory and expand its market footprint, making international trade smoother and more reliable for businesses worldwide.
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