Monday, June 23, 2025
Home News DP World's SeaRates marks profit soar of 1,759%

DP World’s SeaRates marks profit soar of 1,759%

Freight rate marketplace SeaRates has registered a skyrocketing revenue growth of 1,759%, eighteen months after its acquisition by DP World in 2020.

Since its launch in 2005, the aim of the trade digital platform was to digitise business from easing freight bookings from any origin to any destination to providing relevant web logistics tools to support back, middle, and front office operations.

Additionally to the DP World brand, several key pandemic factors contributing to SeaRates’s success, such as e-commerce boom and economies of scale, spot-market appeal to contract rate-based clients and external exposure and commercial growth, according to an announcement.

The e-commerce sector saw a rise in retail sales from 16% to 19% in 2020, according to United Nations (UN) Trade.

“This global trend also impacted SeaRates, which essentially is an e-commerce platform to book containers from any origin to destination,” said Mike Bhaskaran, chief operating officer (COO) of DP World’s Digital Technology and Logistics.

He also explained that through the pandemic, the world has been forced to become increasingly digital to keep business flowing, and this inherently turned many traditional cargo owners to seek alternatives such as SeaRates to operate and keep trade flowing.





Latest Posts

We Asked AI: Container Ships in Ancient Worlds

Container Ships in Ancient Worlds Imagine a colossal container ship gliding through the Nile as pyramids rise in the distance, or docking at a bustling...

Scenario planning for Mediterranean ports growth amid ongoing tensions

The sustained growth of Mediterranean port traffic, driven by increased Asia-Europe trade and the Red Sea crisis, presents a dynamic landscape for global shipping. Assuming...

Thessaloniki port Revival: Balkan gateway reawakens

 For decades, Thessaloniki was a port with strategic promise but structural limitations, ideally located at the crossroads of Europe and the Balkans, yet constrained...

Vigor Marine Group’s consolidation signals US push to counter China’s shipbuilding dominance

In a bold move to strengthen America’s maritime capabilities, five leading US ship repair and marine service providers have united under a single banner. This...

AI reshape shipping operations

The integration of artificial intelligence into shipping operations, is poised to transform competition in the maritime industry by enhancing efficiency, safety, and sustainability while...
error: Content is protected !!