Digital shipping platform Sea/ has acquired Swedish freight contract management platform Chinsay.
The acquisition will allow Sea/ to continue to build the intelligent marketplace for fixing freight and project the business towards its purpose of powering better decisions to enable sustainable shipping, the company said.
The combination of the two companies is expected to enhance the digital charterparty eco-system with more than 450 active broker users and a total annualised volume of 34,000 fixtures.
Chinsay is headquartered in Stockholm with offices in Singapore, enabling companies to manage their charterparties through its Recap Manager product and helping clients digitise their trading workflows through ICP Freight and ICP Commodity.
The company will be owned by Maritech, the legal entity behind Sea/ and part of Clarksons. ICP Commodity users will continue to utilise their existing tool and will not be affected by this transaction.
“By bringing together Chinsay and the Sea/ platform, we will provide a single, feature-rich tool which will help unify workflows and strengthen collaboration across the industry,” Sea/ said in a release.
