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 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.

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?

Sept 20 (Reuters) – The Baltic Exchange’s main dry bulk sea freight index rose to a 12-year high on Monday, as rates across vessel segments jumped on robust demand and global shipping constraints.

Why is Baltic Dry Index Important?

The Baltic Dry Index is a leading indicator that provides a clear view into the global demand for commodities and raw materials. The fact that the Baltic Dry Index focuses on raw materials is important because demand for raw materials provides a glimpse into the future.

What is FEU shipping?

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

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.

Is there a trucking index?

Since 1995, the Cass Freight Index® has been a trusted measure of the North American freight market. Our monthly data and the Cass Transportation Index Report provide valuable insight into freight trends as they relate to other economic and supply chain indicators and the overall economy.

What is the current Baltic Dry Index?

As of May 31st, 2022, the Baltic Dry Index amounted to 2,566 points.

What is global freight 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.

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?

A trade imbalance is nothing new (especially between China and the US), but global Chinese exports soared 60.6 percent over the first two months of 2021, when a lot of Western economies started to recover from the pandemic and demand for Chinese goods skyrocketed.