Ferrexpo picks Chinsay to optimise global freight operations

Ferrexpo, a London Stock Exchange listed iron ore company with assets in Ukraine, has signed an agreement with Chinsay, the market provider of dry bulk freight software, to implement Chinsay´s Recap Manager (RM) a single cloud-based SaaS system for end-to-end contract management and counter-party collaboration tool for their Ocean Freight operations, the company said.

Ferrexpo will use Chinsay´s Recap Manager for managing digital freight contracts across their offices around the world. Ferrexpo will be able to create, edit, review and share contract information both internally and externally via Chinsay´s Recap Manager. The Chinsay platform will enable Ferrexpo to significantly reduce the time to finalise all their charter party work and minimise the potential for contractual errors with risk and compliance oversight.

Chinsay´s platforms for freight and commodities enable global businesses to collaboratively create, review and manage their trade contracts. Chinsay´s digital workflow unlocks efficiencies and mitigates the risk of contractual errors while ensuring that internal and external compliance is automatically enforced. By using digital contracts on Chinsay, contractual data is easily visualised and analysed which enables faster and better decision making.

Chinsay is the cloud platform for the end-to-end drafting, issuance and administration of contracts in the multi-trillion-dollar global commodities and freight markets. With offices in Sweden and Singapore, Chinsay provides Software-as-a-Service contract and risk management solutions that enable its customers to enforce compliance, save time and provide insight to their trading process. Chinsay is fully independent and has a +10 year track record of supporting multinational corporations, brokers, and commodity traders in over 40 countries.