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FAQ

What is FrankFreight?

Frank Freight is absolutely ready website (the marketplace) for freight search in the shipping market.

Who and why can use FrankFreight?

Many logistics companies are constantly faced with one big problem - the problem in the rapid search for a contract without intermediaries.

We offer a simple way to solve this problem: using our platform. For example, you have a cargo. And if earlier you called the broker to find the ship, now, using our platform, you can register your company and easily find a suitable vessel.

Using FrankFreight platform will lead to:

  • lessening in the time of negotiation the terms of the contract of carriage by sea;
  • reducing the cost of transportation;
  • increasing the profitability of the charterer and the shipowner.

You can see how does Frank Freight work:
https://youtu.be/sPmcP2jqbks

Why is a “broker” inconvenient and old-fashioned?

The existing model of chartering ships for the carriage of goods by sea has been historicallyformed several centuries ago. It involves a professional intermediary between the shipowner and the charterer. This intermediary (currently a broker) performs the function of negotiating the terms of the freight contract between the parties. In the process of negotiating the conditions of carriage and the conclusion of the contract, as a rule, there is a large number of different nuances of transportation. These are the norms of loading, the time spent at the berth for cargo operations, the release of cargo on the ship, port services, the cost of transportation etc.

All this information and experience allow the broker to conduct a professional dialogue with both the shipowner and the charterer in order to make a sea transportation transaction, taking into account the commission, which as a ruleis 2% of the cost of the transportation contract.And such commissions are paid both the shipownerand the charterer. Thus, the contract value increases by 4-5%, which negatively affects the overall transportation economy.

Frank Freight will allow interested parties to be independent from the opinion of a third party, to quickly make a decision on the conclusion of the transaction, to choose other free and ready-to-transport vessels or other cargo ready for shipment. In our opinion, the exclusion of brokers on the open platform will lead to lessening in the time of negotiation the terms of the contract of carriage by sea, reducing the cost of transportation, increasing the profitability of the charterer and the shipowner.

How can I pay a subscription? What are the benefits of a subscription?

Each client is given a free trial period of one month. After the end of this period, you can pay for the subscription in the part “PROFILE”. The next step is to select the part “ACCOUNT”. Then choose the subscription type “Columbus” (the subscription for 1 month costs 8.90€) or “Magellan” (the subscription for 1 year costs 36.50€). The subscription can be paid by credit card, PayPal or you can request an invoice for payment.

The subscription benefits are:

  • the possibility to conclude an unlimited number of contracts;
  • the possibility to browse the part “PROGRESS”, where you can see what’s happening in your active contracts.
How to create a contract and find a counterparty?

In order to create a contract, you need to select the part “CONTRACTS”. The next step is to select the part “+ADD CONTRACT”. Then you need to fill in all the information, add the ship and set the deadline.

What types of ships do we have?
  • A bulker (a bulk carrier, bulk freighter, or colloquially, bulker is a merchant ship specially designed to transport unpackaged bulk cargo, such as grains, coal, ore, and cement, in its cargo holds).
  • A tanker (a tanker or tank shipis a ship designed to transport or store liquids or gases in bulk).
What types of cargo do we have?

Food, oil, chemical, coal, ore, ferrous metal, grains and other cargoes.

How does the analytical system work?

Our analytical system processes the data of all contracts that have been concluded at the site, and clearly shows the information that allows you to understand what types of cargo, types of ships, in which direction, in which region, in which port are in demand for any period of time.

How does the employee attachment system work?

You can send e-mail to your employees after filling in the contract or after filling in the information about your vessel.

Where is FrankFreight company registered?

FrankFreight system LTD is a company registered in Cyprus.

Is Frank Freight responsible for contractors and contracts that concluded at the site?

No, it isn’t. Please, read carefully part “TERMS AND CONDITIONS”, paragraphs “Disclaimer” and “Broker Status”.

If you have any problems or questions

If you have any problems or questions, please contact us: info@frankfreight.com. We will be happy to answer you.