A new online cargo insurance application provider is seeking to enter the UK market after selling its first licence to a customer in this country.

The company, Oceanwide.com is supplying its online quotation and binding system Cargocover to Translinx, a specialist web site for freight forwarders.

Cargocover product manager Barrington Halliburton said: “Entering the UK market was the next natural step for Cargocover. We are pleased to be working with Translinx.”

Oceanwide says it plans to open European offices to target the market here by 2001.

Translinx sells fuel, software, finance and insurance services to more than 2,000 registered carriers.

Translinx managing director Mark Roberts said: “The Cargocover application meets the needs of shippers, forwarders and brokers by providing real-time premium quotes and certificates to the transportation and logistics community.”

Tranlinx says it hopes to have 5% of Europe's freight forwarders using the Cargocover service within two years.