By integrating with Xeneta, Keelvar incorporates the largest real-time database of ocean freight rates into its platform. This collaboration enables users to enhance strategic freight procurement by utilizing Xeneta's extensive global shipping rate data along with Keelvar's advanced sourcing optimization capabilities.
Data in scope
The Xeneta benchmark integration allows you to incorporate Xeneta data into your sourcing event. This integration transfers benchmark data from Xeneta to Keelvar. Users can import ocean freight benchmarks based on chosen parameters e.g. Origin, Destination, Container Type etc. These rates will be visible in integration column in the event bid sheets, facilitating simple comparison and analysis.
The benchmark date is loaded to individual sourcing events with manual triggering based on the needs for the specific event.
Connecting the Xeneta Ocean benchmark with Keelvar
The integration can be enabled in the Keelvar platform under Account Settings by entering the authentication key provided by Xeneta.
- To access your Account settings, click on your email address at the top right of the screen, and then select Account settings
- Select the Integrations tab
- Click the Connect button
- Enter your Authentication key in the pop-up modal
Once enabled by the Organization owner, the integration is available to all users within the organization.
Adjusting your integration key
To edit your Integration Key:
- Select Edit
- Enter the adjusted Authentication key
- Click Save changes
To disconnect your Integration Key:
- Select Disconnect
- Confirm by selecting Disconnect on the confirmation modal
Configuring the integration column
You will need to add the relevant benchmarking columns in your sourcing event.
The benchmarking rates are provided based on the origin and destination port codes and the equipment type. You will need to define which columns of your bid sheet contain the information needed to import the data. The benchmark rates will be displayed in integration columns within the bid sheet, allowing for easy comparison and analysis.
You can add multiple benchmark columns for each container size or benchmark type you wish to include in your bid sheet. Once the integration is set up, you can import data by selecting the option to either update only empty cells or overwrite all cells in the bid sheet.
The benchmark rates will only be provided in USD. If necessary, you can handle the currency conversion using the currency conversion features in Keelvar.
| # | Function | Explanation |
|---|---|---|
| A | Integration type | Select the benchmark integration |
| B | Name | Enter a name for the column |
| C | Description | Enter a description for the column |
| D | Visibility | Select Visible to bidders, or Hidden from bidders |
| E | Origin port |
Configure the origin port. This defines which column in your bid sheet contains the origin port code based on the UNLOCODE. The information is used to identify the relevant benchmark rates. |
| F | Destination port |
Configure the destination port. This defines which column in your bid sheet contains the origin port code based on the UNLOCODE. The information is used to identify the relevant benchmark rates. |
| G | Container type |
The container type defines the container type of the requested market rate data. Accepted values include: 20DC, 20RE, 20TK, 40DC, 40RH and 40HC. Select a fixed container type or a column from the bid sheet with the container type defined per lot. You need to use Xeneta-compatible equipment types. You can add a benchmark column for each container size you wish to pull. |
| H | Contract length | Define the contract length (short or long-term) for the benchmark rate you want to pull |
| I | Terminal handling charges |
Select a fixed terminal handling charge value or a column from the bid sheet with the terminal handling charge defined per lot. It is recommended to explicitly define THC as none, origin, destination, or both in a separate column. The setting may vary depending on the trade lane, so it’s advisable to explicitly specify the THC value to avoid confusion. Yes, you can link THC settings to specific columns in the bid sheet, allowing you to control THC values at a row level for different trade lanes. * Note: The container type and terminal handling charges can be selected from a list, or dynamically selected by the bid sheet. |
| J | Benchmark rate | Select your benchmark rate. You can set the rate to median, high, low, or other values to compare and analyze the bid data effectively. |
Take a look at our Xeneta Benchmark integration webinar in Keelvarsity to learn more.
Important to know
- Current SO customers with an active Xeneta license. A unique API key from Xeneta for accessing benchmark data is required. Each request (API call) will target a specific lane and equipment type combination, requiring customers to manage their request allowances accordingly. They can talk to their CSM or Sales Director if they need a request package.
- Each request counts towards an allowance. Only requests that result in a benchmark being returned will count toward a user's allowance. No benchmark available means no charge. The system will automatically de-duplicate requests when different columns can be populated by one request.
- Not at this stage. We can invite them to share feedback with their CSM
- The number of API calls is tracked, and charges are based on the number of successful data retrievals. Each call corresponds to the number of lanes multiplied by the number of rate columns.
- The integration has internal parameters to use regional rates or expand the search criteria (e.g., from three-month to six-month contracts) to ensure data availability. When no benchmark is available, this means no charge/use of allowance too.
- An API call is a request made by one application to another to retrieve data. In this context, it refers to the requests made by Keelvar to Xeneta to fetch ocean freight rate data.
- (1 Origin + 1 Destination + 1 Container Type + Contract length + THC methodology) = 1 API Call. See API documentation for further information.
- Typically depends on the number or lots in the bid sheet and number of distinct container types per lot
- API calls are measured based on the number of lanes multiplied by the number of columns in your bid sheet. The number of requests is tracked for each import, and some columns can be included in a single request, while others, like short-term and long-term rates, require separate requests.
- No, you are only charged for successful data retrievals. If no data is available for a request, it should not count towards your usage.
- It's like our own usage allowances at Keelvar - you're allowed over your limit, but you will be charged for a higher limit on the next billing cycle.
- No, you can only use the services you have paid Xeneta for. If you have paid for ocean data, you cannot use air data unless you also pay for it.
- The rate limiting for our API is based on API Key and is considered a soft limit. Users should not expect to encounter HTTP 429 errors (Too Many Requests). While we monitor API usage and have established reasonable thresholds, there is no automated blocking of access based on predefined limits.