What is a container Rate Index?

What is a container Rate Index?

A freight rate index collects pricing information from multiple carriers, shippers or forwarders at regular intervals to calculate a benchmark or market rate for freight for any given shipping lane and provide visibility into freight rates for interested parties.

What is the freight rate index?

A freight rate index takes the sum of all freight data and calculates the average cost of transportation. Actively analyzing the data creates a transportation benchmark. This benchmark reflects the consistency and value of the data, pricing or demand, regardless of lane or market.

What is the 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 Drewry index?

The Drewry World Container Index (WCI) measures the bi-weekly ocean freight rate movements of 40-foot containers in seven major maritime lanes. It is expressed as an average price per 40-foot container (in US$). There is also a global price that is an average across all seven lanes.

What is FEU shipping?

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

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.

What is truckload freight index?

FreightWaves National Truckload Index (NTI) is a seven-day moving average of spot rates that measures the U.S. for-hire, over-the-road dry van trucking market: Covering 250,000 lanes. Representing 8.7 million loads. Published 365 days of the year. Over 1,200 days of historical data.

Why are freight rates so high?

Therefore, as the economy expands and demand exceeds supply (which we are seeing now), shipping prices increase to help manage demand for cargo space, and to cover costs from unprofitable periods when prices fall. Shipping prices are also particularly sensitive to changes in fuel prices.

What is freight Baltic index?

What is ‘Baltic Freight Index’ Definition: BALTIC Freight Index (BFI) is a leading indicator of spot dry bulk cargo rates. It is not a shipping index, but an indicator of the bulk cargo market. It is calculated by the Baltic Exchange, based in London, a key market for the global shipping business.

What is Drewry’s composite 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 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 many TEU is a 40 HC?

A forty foot container is regarded as two twenty foot containers or 2 TEU (sometimes referred to as FEU, Forty Foot Equivalent Unit).

How do you convert TEU to feu?

A forty-foot container is regarded as two twenty-foot containers or 2 TEUs (sometimes referred to as FEU, Forty Foot Equivalent Unit). To calculate how many TEU a container is, just divide the actual length in feet by twenty.

How many TEU is a 45?

A standard container counts as 1 TEU. High Cube containers (height 9 feet and 6 inches) and Half Height (height 4 feet and 3 inches) count as 1 TEU. A 40-foot long container corresponds to 2 TEUs. Containers of 45, 48 and 53 feet in length correspond to 2.25 (or 2), 2.4 and 2.65 TEUs, respectively.

How many CBM is 20FT container?

20FT and 40FT Containers

Container Type	Internal Dimensions	Cubic Capacity
20FT General	L – 5.89M W – 2.35M H – 2.36M	33 CBM
20FT High Cube	L – 5.89M W – 2.35M H – 2.69M	37 CBM
40FT General	L – 12.05M W – 2.35M H – 2.36M	66 CBM
40FT High Cube	L – 12.05M W – 2.35M H – 2.69M	76 CBM

How many kg Makes 1 CBM?

EQUIVALENCE: 1 CBM = 1.000 KG.

How many CBM is a 40 container?

What is the size of a 40 ft container?

Dimensions	2.38m x 2.35m x 12m
Total Volume	67 cubic metres (cbm)
Estimated Loading Volume	54-58cbm of cartons
Pallets in a 40ft container	18 pallets (or 36 if <110cm high and double stacked)