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A freight analyst is the one who analyses the SHIPPING FREIGHT INDEX.

It is called as the BALTIC INDEX, provided by the LONDON BALTIC


EXCHAGE.
Ships are hired by Shippers to transport cargo from one end to another. The rate of
hiring ships is called FREIGHT.
A Freight analyst has the following responsibilities:
Decide on the nature of SHIP HIRING: Should it be hired for a particular time
(like 4 months, 8 months, 1 year etc..) or should the ship be hired on VOYAGE
BASIS (Only for one VOYAGE, say India to China)
the decision depends on the Hiring rates in both the markets (time markets known
as TIME CHARTER and Voyage markets known as VOYAGE CHARTER)
The decision also depends on other costs involved in hiring the ship on TIME
CHARTER: namely
Fuel Costs called as BUNKER COST
Cost of Insurance
Operational costs of the ship
Nature and frequency of business in the direction/ region of shipment, currency
fluctuations..etc..
Thus a freight analyst needs to keep a close watch on
OIL MARKET
BALTIC INDEX
CROSS CURRENCY FLUCTUATIONS
Global TRADE esp Raw materials trading and shipments
Inter nation trading mechanisms
Based on all this analysis the FREIGHT ANALYST will not only suggest the
nature of ship hiring but also the PRICE at which the FREIGHT needs to be fixed.
Now a days, markets are moving high, so the freight rate on one voyage from
INDIA TO CHINA for a 70000 DWT Ship is around 10.5 USD per tonne.
If the same ship is hired on TIME CHARTER BAISIS the rate will be around
10000-12000 USD per DAY.

Freight Analyst Responsibilities and Duties


Administer all freight payment for organization and perform analysis on all data
collected from external and internal sources and prepare monthly ad hoc reports.
Analyze all data to identify fright trends and monitor route of all private fleet on
weekly basis.
Maintain list of all approve carriers, route guides and warehouse list and
implement an effective transportation management system and recommend
improvement to performance and analyze trend.
Analyze all freight processes and recommend improvements to all transportation
and warehouse operations and perform audit on all international and domestic
invoices.
Maintain records of carrier pricing and contract rates and resolve all issues in same
and monitor all client calls and track all freight carriers and resolve all overcharge
issues.
Monitor tracking system, identify all system errors and recommend appropriate
enhancement and assist to sort all mail and perform appropriate entry.
Monitor and organize file systems and manage all correspondence with same and
ensure compliance to all import and export shipment regulations.
Coordinate with internal team and monitor all payments to suppliers and provide
optimal support to supply chain and resolve all supply payment issues and ensure
compliance to all international trade regulations and implement any procedural
changes in same.
Investigate and resolve all claim issues for inbound and outbound shipment
processes for all international and domestic freight.

Freight Analyst Responsibilities


The freight analyst is chiefly responsible for executing research on the third party
shipments and determining the divergences of the freight. He is required to originate
the provider freight decrements on the unmanageable shipment costs. He also plays an
important role in supplying the freight reports to the merchandising unit. It is expected
of him to prepare an investigation of the freight information for promotional purposes.
Job Responsibilities of a Freight Analyst
A freight analyst is required to carry out numerous duties. They are as follows:
The freight analyst is needed to look after the sustenance of the freight bearer
within a particular structure arranged by the organization. He is even required
to organize the travel plan and the charge per unit of the freight
He takes the responsibility of investigating the important cost forces of the
organization
He needs to prepare the progress reports of the freights scheduled by the
organization. One of the main reports that he is required to create is the
monthly KPI report. The KPI report provides a detailed statement about the
performance of the organization in different areas of its working
The other important reports that he is expected to organize are the reports on
the accessory monetary values, fuel charges, and overall expenditure of freights
of the organization
He is required to mention the cost of the fuel over and above the actual cost of
the freight in the 'fuel charge' report. This helps the hauler to refund the extra
charges that might have incurred during the execution of the freights
He does the work of calculating the charges that are excluding the normal
freight costs. These charges may include storage charges, internal
transportation charges, waiting time charges, etc.

He is needed to undertake the task of performing appropriate reconciliation of


the traveling costs. He is also needed to ensure an ideal equalization of the
freight adjustments
He holds the responsibility of discovering and applying unique cost efficiency
strategies and techniques that are related to the performance of freights of the
organization
He looks after the freight planning and freight prediction duties and makes sure
that they are executed within the time period given by the management team
He shoulders the responsibility of creating route efficiency plans and
implements them on the freights arranged by the organization
He is expected to suggest the different ways through which the process of the
freights can be developed and improved
He is required to provide beneficial support in finding out suitable solutions for
the freight invoices that have found to be controversial in the eyes of the
organization
Other Responsibilities of a Freight Analyst
The other responsibilities that a freight analyst is required to accomplish are given
below:
The freight analyst is expected to stick to the regulations and rules designed by
the organization
He is to make sure that there is timeliness and wholeness in the data related to
the freights of the organization
He is required to provide a quotation of the rates of the freights including the
tax rate and perform the work of examining documents related to the freights
He makes sure that the data registered in the information systems of the
organization are correct and precise without any inaccuracy involved in it. He

also makes sure that the data shows the number of contracts received by the
organization
He is needed to develop a close relationship with the modal and carrier
management team so as to facilitate smooth working of the freights. He is also
needed to maintain a professional relation with the district sales representatives,
transportation managers, sales managers, fiscal supervisors, distribution
department personnel and other analysts of the organization
He is required to manage his work with the plant and terminal department
members and interact with them about the regular problems related to the
freights of the organization
He performs the job of maintaining a formal contact with the CVC
management personnel and associates of the CVC department. He is required to
discuss the general difficulties, problems, and transformations that are related
to the freights of the organization
He is responsible for acquiring the freight reduction objectives set up by the
organization by making the use of price saving prospects
He is also responsible for the execution of zero based costing processes and
accurate inquiry of the freights organized by the organization
He executes the job of discussing over the terms of transport rate and
determines the modern transportation methods so as to increase the proficiency
of the freights
He performs the task of completing credit forms and creating credit memos,
shipping labels, billing records, etc.
At times, he is also needed to attend queries put forth by the customers through
phone calls, emails or letters

Freight analyst responsibilities give you a wonderful opportunity to add on to your


knowledge about the freight analyst job profile and its significant job responsibilities
and duties. It assures you of a prospering career in this industry.

Job Description:

1) Analyzes existing freight rates, tariff regulations, and proposed or


government-approved changes in rates to revise or recommend changes in
rate structures, rules, and regulations for freight carrier: Analyzes proposals
and applications for changes in rates, rules, or regulations received from rate
bureaus, shippers, sales offices, and other carriers, and reviews regulations
and regulatory agencies' decisions on applications filed by other carriers
governing established rates and newly approved rate changes to determine
required changes in company's rate charts.

2) Compiles rate-manual sections in accordance with governmental


regulations, based on factors such as handling costs, classes of merchandise
transported, fuel costs, refrigeration required, business volume, and
potential return trip loads.

3) Confers with shippers, sales and rate bureau personnel, and others to
discuss revised rates, rules, and regulations.

4) Prepares revised rate schedules or submits data for publication.

5) May propose rates for activities or services not previously rated.

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