TRITON WORKS IN THE NEWS
FOR IMMEDIATE RELEASE
TRITON WORKS ANNOUNCES NEW E-COMMERCE TECHNOLOGY FOR THE OCEAN FREIGHT MARKET
Denver, CO USA February 28, 2008
Triton Works, a developer of on line transportation markets, has announced new technology which will efficiently manage the selling and buying of ocean container capacity. With strong guidance from the international transportation community, Triton has developed a highly efficient, participant neutral process where ocean carriers can post on line owned container slots for specific or multiple sailings as far as twelve months in advance. Forwarders, NVOCC's, cargo intermediaries or other owners can view the available space, price and terms, and then purchase accordingly. Supporting this market is a unique set of business rules that ensure participants hold to their space and purchase commitments.
Today’s process for selling and buying spot capacity is often cumbersome, time consuming and costly. Triton Works has taken a fresh look at this problem, and created the XChange to bring efficiencies, savings and utilization discipline. Founder and CEO of Triton Works Mark Storen commented: “We believe that using the XChange will save all participants time and money, but that is only one of the numerous benefits. Our proprietary web based platform uses robust technology, and supports numerous industry requested functions such as comparative analysis, carrier anonymity, pricing durations, and targeted equipment positioning. This is accomplished with complete transaction confidentiality, and includes global trade lanes for both dry and reefer containers.” .
The Triton Works business model has been built based on direct feedback from the future participants. Additional functionality will include support for the contract filing process (for regulated trades), yield optimization, landside capability, and the creation of targeted pricing programs. Further, Triton Works will offer an enhanced analysis and reporting package that will provide guidance to XChange participants in understanding market pricing levels, selling thresholds, and trade lane specific information. Storen noted “We have built our platform based on the needs of the community, and look forward to continuing to partner with them to create further efficiencies with our technology.”
The first trade lanes for the XChange will go on line in Q2 of 2008.
For additional information, go to: www.Tritonworks.net or call Triton Works at 303-997-1365.
# # #