project44 acquires Ocean Insights, redefining end-to-end supply chain visibility

project44 has announced that it has acquired Ocean Insights to expand its ocean solution by adding the broadest container tracking capabilities in the market, as well as one-of-a-kind sailing schedule and ocean analytics products; terms of the acquisition were not disclosed. Combining Ocean Insights’ tracking and analytics with the project44 platform and ecosystem establishes project44 as the clear market leader with an unrivaled set of multi-modal solutions for end-to-end supply chain visibility. Surging global trade since the outset of the pandemic has resulted in massive disruptions in the global supply chain. Since March 2020, freight rates increased by as much as 174 per cent due to the increased global demand for electronics, PPE goods and stay-at-home consumer products. At the same time, COVID-19 and other restrictions have caused significant port congestions, and rollover percentages have never been higher. To meet these global challenges and build resilience, supply chain leaders are adopting global freight visibility and digitalisation.

Headquartered in Germany and founded in 2012, Ocean Insights pioneered ocean freight visibility by combining carrier data, live vessel tracking and sailing schedule data in one data-rich platform. Tracking 350,000 containers daily, Ocean Insights provides track and trace functionality across the vast majority of shipping lines, 700 seaports, and more than 5,000 vessels as well as handling over five million sailing schedule changes per day.

“Ocean freight is a linchpin for global supply chains. For organisations shipping internationally, the lack of ocean visibility can start a costly domino effect throughout the supply chain,” said Jett McCandless, Founder and CEO of project44. “Ocean Insights has dominated the container tracking space and we look forward to providing the industry not only the best ocean capabilities, but also the most comprehensive end-to-end visibility platform.”
“At Ocean Insights, our mission has been to make supply chain data visible and actionable through best-in-class software and our team of experts,” said Felix Richter, CEO and CTO of Ocean Insights. “Joining project44 is the next natural step to building the multi-modal visibility solution that global supply chains need. By combining the expertise and technology of project44 and Ocean Insights, shippers and logistics services providers will unlock predictive insights across the globe.”