What is Freightos Baltic Index FBX?

What is Freightos Baltic Index FBX?

FBX stands for Freightos Baltic Index, a series of indices compiled by Freightos and the Baltic Exchange. They measure the daily, 40-foot container rates by freight forwarders for 12 main shipping routes through Asia, Europe, and the Americas.

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 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.

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.

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.

Will freight prices go down?

After a year in which freight rates continued to set new highs, spot rates are on the decline in 2022 with experts pointing to a series of factors likely contributing to an ongoing decline.

Why is the Baltic index so high?

The Baltic Dry Index typically increases in value as demand for commodities and raw goods increases and decreases in value as demand for commodities and raw goods decreases.

How is the Baltic index calculated?

The Baltic Exchange calculates the index by assessing multiple shipping rates across more than 20 routes for each of the BDI component vessels. Analyzing multiple geographic shipping paths for each index gives depth to the index’s composite measurement.

What is FEU shipping?

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

What is Shanghai freight index?

Shanghai Export Containerized Freight Index (SCFI) was officially launched as of October 16, 2009. This index reflects the ocean freight and the associated seaborne surcharges of individual shipping routes on the spot market.

What is index number in shipping?

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 Ningbo Containerized Freight Index?

NCFI reflects the fluctuation of freight rates of the international container shipping market by calculating and recording the changes of container freight rates of 21 routes departing from Ningbo- Zhoushan port, including composite index and 21 individual indices.

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.

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.

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 the current Baltic Dry Index?

Why are truck loads so cheap?

Supply, Demand, and Spot Freight. The low rates were triggered by a supply and demand situation driven by the unprecedented economic shutdown caused by the COVID-19 pandemic.

Why are shipping costs so high 2022?

Truck drivers and ship crews couldn’t cross borders because of public health restrictions. Pent-up demand from huge stimulus programs during extended lockdowns overwhelmed the capacity of supply chains. Besides causing delays in getting goods to customers, the cost of getting them there surged.

Why are freight rates from China so high?

So, you have a pandemic-induced increase in ecommerce, plus lockdown restrictions forcing idle ships and empty containers just sitting at port, plus China being among the first economies to recover from COVID, hence sending in a lot more products into Western markets than it is shipping in.