What is the global container index?

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 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 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 index for container shipping?

The average composite index of the WCI, assessed by Drewry for year-to-date, is $8,475 per 40ft container, which is $5,006 higher than the five-year average of $3,469 per 40ft container.

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 FEU shipping?

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

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.

What does Index mean for shipping?

By definition, the freight index is a data average of weight for trucking, waterborne, freight rail, air freight, and pipeline. It is a measurement of aggregate deliveries of freight.

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.

Will shipping prices go down in 2022?

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.

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.

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 = 333 KG.

How many CBM is a 40FT 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)

What do TEU and FEU mean?

TEU is an acronym for Twenty Foot Equivalent Unit. FEU is an acronym for Forty Foot Equivalent Unit. Both are used to describe the size of a container.

How many TEU are in 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.