Mjunction CEO and Managing Director, Vinaya Varma, says that the new partnership will aim to boost efficiency across mjunction’s supply chain and bring various value-added services to its clients.
Mjunction services limited is a joint (50:50) venture of two Indian steel giants – Tata Steel and the Steel Authority of India (SAIL) . Mjunction operates the world’s largest electronic marketplace for steel and is reportedly India’s largest e-commerce firm. The company has also moved into various other business spheres such as e-finance, e-retail and other services.
Benefits of the partnership for Mjunction and Shipnext
SHIPNEXT CEO and Founder, Alexander Varvarenko
“I am happy to partner with Mjunction on this and hope that Mjunction’s large cargo base will help attract more traffic, as well as ship owners and ship operators on our platforms.”
For the past four years, Mjunction has been providing its clients, online ocean vessel chartering services to discover charter rates transparently through competitive bidding. With this partnership with SHIPNEXT, it intends to fulfill the emerging needs of its clients such as vessel tracking (location of ship), price benchmarking and cargo consolidation. Direct access to SHIPNEXT’s panel of operators and ship owners will also be provided to them.
Ship owners and operators who want to participate in the transportation of cargo by major Indian steel providers such as Indian Steel Board and Tata Steel can register on the SHIPNEXT platform. As per the agreement, the KYC (Know your Customer) procedures of the shippers will be managed by SHIPNEXT. This partnership will thus enable Mjunction buyers and sellers complete visibility of their marine supply chain.