Through the acquisition of Chinsay, Sea will make it even easier for all participants to digitise their charterparties. By combining the two companies, the whole industry will benefit from an enhanced digital charterparty eco-system with more than 450 active broker users and a total annualised volume of 34,000 fixtures.
Smarter fixture and negotiation management
Chinsay is a technology company headquartered in Stockholm with offices in Singapore. Founded in 2003, it was instrumental in providing software to enable companies to create, share and manage their charterparties through its Recap Manager product. It has subsequently evolved to helping clients digitise their trading workflows through ICP Freight and ICP Commodity.
Sea is a SaaS platform focused on delivering The Intelligent Marketplace for Fixing Freight. Sea Contracts, the charterparty creation and workflow management tool, has seen extraordinary growth in adoption since its launch to the market in 2018.
All set for a seamless chartering experience
There is significant synergy between Chinsay and Sea Contracts and a smooth transition plan is in place for all freight customers, so that all involved parties can reap the benefits of the digitisation of charterparties on Sea Contracts. ICP Commodity customers 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.
Chinsay will be owned by Maritech, the legal entity behind Sea. The acquisition allows Sea to continue to build The Intelligent Marketplace for Fixing Freight and projects the business towards its purpose of Powering Better Decisions to Enable Sustainable Shipping.