Shipping & Logistics

Digital marketplace solutions that enable online exchanges and simplify the chartering process in the shipping and logistics industry.

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Ship with containers, highlighting auction expertise in the shipping industry

NovaFori empowers the shipping and logistics industry to embrace digital change

We build highly reliable and scalable marketplace and auction software to conduct multiple and simultaneous online auctions, providing both sellers and buyers with a transparent and efficient mechanism to transact digitally.

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Challenges / Opportunities

Price volatility and market fragmentation

Shipping and logistics costs can experience significant volatility and is often fragmented, making it challenging for buyers and sellers to negotiate fair prices.

Online auction platforms

Implementing a single online auction platform for shipping and logistics services can increase market efficiency, allowing buyers and sellers to interact in real-time and discover fair prices.

Information asymmetry

Information asymmetry between shipping companies, freight forwarders, and customers can lead to inefficiencies and unfair pricing in fixed-priced marketplaces.

Digital systems for transparent transactions

Using digital platforms and data can automate and enforce transparent transactions in auction marketplaces, reducing the risk of disputes and enhancing market integrity.

Limited market access for small businesses

Small businesses may face barriers to accessing these traditional marketplaces for shipping and logistics services, reducing their ability to obtain competitive rates and efficient service.

Marketplace data analytics

Leveraging data analytics from auction marketplaces can provide insights into bidding trends, supply-demand dynamics, and quality variations, enabling more informed decision-making.

Supply chain data inefficiencies

Inefficiencies in the shipping and logistics supply chain, such as delays in transportation and customs clearance, can contribute to price fluctuations and reduce market transparency.

Supply chain data optimisation technologies

Leveraging data analytics from auction marketplaces can provide insights into route efficiency and enable data driven supply chain decision making.

Lack of price discovery mechanisms

Fixed-priced marketplaces may lack robust price discovery mechanisms for shipping and logistics services, making it difficult for participants to determine fair market prices.

Education and training programs

Auctions are capable of capturing the nuances of the shipping market and translating them into prices that accurately reflect market demand.

Building digital auction platforms to scale your business

We understand automotive auctioneers, given our proven track record of building enterprise-scale auction and trading platforms.

Our digital marketplace and auction solution has already made a positive impact in Europe's used-car market, boosting liquidity across borders and jurisdictions, such as with CarNext. On the data science side, NovaFori deployed its recommendation engine to the CarNext B2B marketplace.

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We were looking for a technology partner who could combine an agile approach to delivery, a modern technology stack, and a deep understanding of trading and resolution mechanisms. NovaFori delivered on all three fronts.