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Benchmark data for container shipping to be published in new index

The Baltic Exchange is to work with digital container freight platform Freightos in publishing independent audited benchmark rates for the global container shipping industry, to be called the Freightos International Freight Index.

{mprestriction ids="1,2"}The Index reflects weekly spot rates for 40-foot containers based on 12 to 18 million price points collected every week on 12 main shipping trade lanes, which will be audited by the Baltic Exchange and republished as the Freightos Baltic Indices.

The information that will be made available will also include a new headline index – the FBX Global Container Index (FBX) – consisting of a weighted average of the 12 underlying route indexes.

“Baltic Exchange benchmarks are already widely used as settlement mechanisms in the derivatives and physical markets for billions of dollars’ worth of bulk freight transactions,” said Baltic Exchange chief executive Mark Jackson.

“Our products have allowed shipowners, charterers and traders to manage the volatile business of moving bulk commodities by sea.”

“We comply with the standards set by International Organization of Securities Commissions (IOSCO) and have been publishing data since 1985. By offering our robust auditing methodology to the FBX, we hope to provide the framework for the container shipping industry to develop sophisticated risk management tools.”

FBX is based on aggregated and anonymised real-time data from global carriers, forwarders and shippers that offer services on or use the Freightos AcceleRate freight rate management platform, and have consented to the anonymous data being used.

The data will be available to subscribers on the Baltic Exchange website, via the Freightos website and on Thomson Reuters Eikon screens.{/mprestriction}

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