10th September 2015, Stockholm & London: Chinsay, the global standard for online freight and commodities contract management in the physical markets, has announced today that its specialist shipping contracts technology, the Recap Manager, has been shortlisted for the prestigious International Bulk Journal Awards. The 2015 ceremony will be held at the Hilton in Antwerp on 16th November.
“It is such a great honour to be shortlisted for the International Bulk Journal Awards,” commented Dag Sundén-Cullberg, founder and CEO of Chinsay. “We are truly committed to making a difference in the freight industry and being acknowledged for the innovation and quality of our solutions is an immense achievement for us here at Chinsay.”
“We are bringing efficiency, security and new levels of risk management to a global industry,” added Sundén-Cullberg. “Much of the freight industry still uses manual contracts, making it difficult for participants dealing with thousands or tens of thousands of contracts to have an accurate view of their business. Getting a single contract wrong can be extremely expensive and damaging to a company’s reputation. Our system allows users to substantially reduce errors and increase efficiency and it is easy and fast to de-risk the business. We firmly believe that having experienced and capable staff is no longer enough for our clients to remain competitive in an environment that is becoming more and more complex. It is now time to embrace technology and we are here to help the freight industry take the next step forward.”
In 2008 Chinsay started working with a client who suspected their contract-management process was getting in the way of their overall growth strategy. Their dependence on paper had become burdensome, given increases in the volumes of information that were being provided; it would usually take brokers 9-12 months to send contracts back to them. The implementation of the Recap Manager did not only save the company a lot of time, it also significantly improved the quality of their operations. For this client, and many other freight industry professionals, access to real- time data provided by Chinsay helped transform an administrative burden into a value-driver.
Ray Girvan, publisher for the International Bulk Journal, commented: “We have had a tremendous response to this year’s call for entries and for a company to be on the shortlist is a success in itself.”
Nearly 500 guests are expected at the awards dinner to celebrate yet another year of excellence, achievement and innovation in the maritime bulk industry.
Notes to editors
Chinsay is the global standard for online freight and commodities contract management in the physical markets. The company’s technology provides 21st Century control and management to one of the most important, but historically, one of the least technologically connected areas of world trade – the trading and transportation of physical commodities. Chinsay is the only company which is completely focused on bringing control, security and real-time cost efficiencies to the trillion dollar global commodity and freight trading market.
Headquartered in Stockholm and with regional offices in Singapore and the UK, Chinsay has more than 3000 users at 270 corporate clients across 40 countries, ranging from some of the largest trading houses, commodity producers and their brokers through to cargo charterers and ship operators. Clients benefit from the cloud-based, real-time contract management and position-keeping that only Chinsay can provide.
When Chinsay launched in 2000 it was clear to the founders that a contract was at the heart of every trade. Now Chinsay is at the heart of every contract. Chinsay brings control, efficiency, accuracy and security to global trade.