What is global container index?

What is global container index?

A global container index is a weighted average of individual lane indices and offers a big-picture perspective on the worldwide supply/demand balance. Looked at over a span of multiple years, global indices provide important insights on the ebb and flow of ocean container markets.

What is the Global freight rate Index?

The index measures global container freight rates by calculating spot rates for 40-foot containers on 12 global tradelanes. It is reported around the world as a proxy for shipping stocks, and is a general shipping market bellwether. The FBX is currently one of the most widely used freight rate indices.

What is Drewry World container Index?

The World Container Index assessed by Drewry reports actual spot container freight rates for major East West trade routes. The Index consists of 8 route-specific indices representing individual shipping routes and a composite index. All indices are reported in USD per 40ft Container.

What is a container freight rate?

A freight rate (historically and in ship chartering simply freight) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport (truck, ship, train, aircraft), the weight of the cargo, and the distance to the delivery destination.

How is the World container Index calculated?

Index values are calculated by taking the median price for all prices (to ignore the influence of outliers on active lanes) with weighting by carrier. 50 to 70 million price points are collected every month.

What is FEU shipping?

FEU is an acronym used in logistics, which means ‘Forty Equipment Unit’.

What is Containerized Freight Index?

The Shanghai Containerized Freight Index is the most widely used index for sea freight rates for import China worldwide. This index has been calculated weekly since 2009 and shows the most current freight prices for container transport from the Chinese main ports, including Shanghai.

How is FBX calculated?

FBX is calculated using the Buy Rates Ocean Carriers offer to large Freight Forwarders, or NVOCCs, or large shippers (BCOs) who are using the Freightos Applications*. FBX calculation includes only tariff prices offered by Carriers to large Freight Forwarders.

Why are container prices so high?

The question remains: why is shipping so expensive in 2021? The primary reason for the sudden spike in the price of shipping is the world’s ongoing nemesis: COVID-19. The pandemic affected global supply chains in 2020, and shipping prices reflect that.

What is TEU in shipping?

TEU is an acronym used in logistics, which means ‘Twenty Equipment Unit’ or in other terms a ’20-foot container’.

Are container prices going down?

Since the start of the pandemic, the cost of shipping has increased significantly. In the past month, however, container shipping costs have fallen by about 12%, according to the Drewry World Container Index.

How much does it cost to ship a container overseas?

The cost to ship a container overseas is between $2,000-$3,000, but this varies greatly. The cost depends on the cargo volume, if you’re shipping by air or sea, the distance shipped, the destination port, and the time of year.

How is CBM calculated for shipping?

The CBM formula is a simple calculation – it’s the product of: quantity of items * length * width * height. If your shipment has different sized items, simply repeat the formula for each size and add up the volumes.

How much is a 40ft container?

Container price for 40ft container They can carry most kinds of dry cargo, similar to their 20ft container cousin. It is 7ft 10in high on the interior and has 2,350 cubic ft of storage space. The average container price of a 40ft container can range from US $2,751 to US $4,125.82.

What is NAC in shipping?

National Association of Concessionaires. PartnerShip® helps you save on every inbound, outbound, small and large shipment through its NAC Shipping Program, a free NAC member benefit.

How are sea freight charges calculated?

The CBM factor used for ocean freight is 1 CBM = 1 ton. In this example, the actual ton weight is less than the volumetric weight (CBM) and hence, the ocean freight charges are calculated based on the CBM.