Inttra Asia president Jim Whalen told Seatrade Maritime News that the electronic transaction platform for the container industry aims to grow market share to 40% within four to five years from the current level of 25%.
A key element of Inttra is that it is a neutral platform and adds value to both sides of the network. It plans to build on this alliance network to not only grow market share but also expand its product range to encompass new products which will make use of data and analytics as well as other areas of the shipping industry that have yet to be widely digitised such as ocean shipping schedules, Whalen said.
He said going forward, had new products in the pipeline that it is investing in and will launch in new due course. "Particularly in Asia for Inttra understanding the market needs to the extent of what value can we provide as extensions off of our products that may become new products that build off that common platform." These include the VGM product that has already been launched as well as ocean schedules as a data product. These would typically be sold as a licencsed product, Whalen noted.
Looking ahead, Whalen is optimistic about Inttra's prospects in Asia and in Asean especially. He noted that for a market that is growing faster than the global average, "we see an acceleration of e-commerce adoption," where there has been a doubling of the adoption rate for electronic bookings from 2015 to 2016 on intra-Asia trade routes. In fact, the growth rate of Inttra's platform in Asia is faster than in the rest of the world, Whalen pointed out.
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