Chinsay combined with Sea/ following acquisition
Summary
Integrating the two software systems will create a digital charterparty eco-system with more than 450 active broker users and a total annualised volume of 34,000 fixtures, the company notes. Founded in 2003, Chinsay initially developed its Recap Manager product to assist companies in sharing, creating and managing their charterparties, before subsequently expanding its capabilities to help clients digitise their trading workflows through ICP Freight and ICP Commodity. Sea/ is a SaaS platform focused on delivering an intelligent marketplace for fixing freight. A transition plan is already in place to allow freight customers to operate with digital charterparty tools on Sea/contracts. ICP Commodity customers will continue to utilise their existing system and will not be affected by the transaction.