• 2020 February 4 16:58

    Baltic Exchange and Freightos Group unleash shipping market visibility with first daily container freight index

    For the first time ever, daily spot ocean freight rate indices for 40-foot containers (FEUs) are now available via the Baltic Exchange and the Freightos Group, adding real-time, transparent price discovery and risk mitigation into the container freight market that powers global trade. The Freightos Baltic Index (FBX) has been produced weekly since April 2018 by digital freight platform Freightos, based off of live pricing data from hundreds of global logistics providers.

    With the robust, real-time data, as well as oversight from the Baltic Exchange, the FBX is positioned better than ever to provide a true pulse of the market in one of the world’s largest and most important industries. Container shipping pricing has become volatile and FBX will be the foundation of index-linking and future derivatives which allow carriers, forwarders and imports/exporters to hedge their risk, as is already customary in other industries,” said Freightos CEO Zvi Schreiber.

    The Freightos Baltic Index differentiates by providing daily update frequency sourced from live data. As announced today at FreighTech 2020, these daily indices are now overseen by the Baltic Exchange, complying with the Principles for Financial Benchmarks set by the International Organization of Securities Commissions (IOSCO). These rules are designed to ensure benchmark quality, integrity, continuity and reliability.

    Welcoming the launch of the daily service, Baltic Exchange FBX Council Chairman Stefan Albertijn said: “The Baltic Exchange is an independent, trusted body with deep experience of managing complex benchmarks for the shipping industry. We have closely monitored the index’s production over the past 20 months and are confident that the FBX meets our strict criteria.”

    The Baltic FBX Council consists of Stefan Albertijn (Chairman), Beat Simon (Ontegos), Bjorn Jensen (Electrolux) and Mark Jackson (Baltic Exchange).

    The Baltic Exchange, which already manages a diverse range of benchmarks for the global shipping markets, is also in the process of applying for Benchmark Administrator status with the UK’s Financial Conduct Authority (FCA).

    Covering 12 key trade lanes and based on real data via Freightos and its live digital freight platform, the rates are rolling short term Freight All Kind (FAK) spot tariffs and related surcharges between carriers, freight forwarders and high-volume shippers. The FBX index is a weighted average of its underlying regional route indices. Each individual index trade lane is represented by five to seven of the major ports of each region. Together, this data unlocks the potential to control pricing volatility and will be the foundation for ocean pricing’s evolution towards index-linked contracts.

    The Baltic Exchange already manages a diverse range of benchmarks for the global shipping markets including dry bulk, tanker, gas spot freight rates, asset values, vessel operational costs and ship recycling prices.

    The Baltic Exchange is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 600 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic. Baltic Exchange members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels. In November 2016, the Baltic Exchange was acquired by Singapore Exchange ("SGX"), bringing together complementary strengths of Singapore and London, two of the world's most important maritime centres.

    About Freightos Group

    Freightos.com [3]® makes global trade frictionless with the world’s online marketplace for the trillion dollar international shipping industry. The Freightos Marketplace helps importers and exporters reduce logistics spend and save time with instant comparison, booking and management of air, ocean and land shipments from top logistics providers. The result is international shipping that’s as smooth as booking a flight online. Freightos also provides patent-pending technology that empowers carriers and logistics providers around the world to automate freight sales. WebCargo™ [4]powers rate management, automated pricing, and online freight sales for over 1,600 logistics service providers and carriers, including multi-billion dollar companies like DSV Panalpina and Nippon Express. Freightos has accumulated the world’s largest global database of multimodal freight rates, providing industry transparency with the Freightos Baltic Index. Founded by serial entrepreneur Zvi Schreiber, Freightos is a logistics technology pioneer with a worldwide presence, and has raised $94.4 million from leading venture funds, including GE Ventures.


2021 January 20

18:54 Galeon Yachts announce new outboard model
18:15 CMA CGM announces FAK rates from Red Sea to North Europe & the Mediterranean
17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge
17:01 GTNS supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
16:42 U.S. blacklists oil tankers for undermining Venezuela sanctions
16:00 Krasnoye Sormovo shipyard launches dry cargo carrier Vladimir Latyshev
15:24 Port Houston presents 2040 Plan
15:07 RF Navy’s patrol boat "Yaroslav Mudry" conducts exercises in the sea ranges of the Baltic Fleet
14:45 Amendments to increase safety proposed to Finland's Water Traffic Act
14:26 Polaris sets off for the Bay of Bothnia as the season’s third icebreaker
14:02 First vessel certified with Responsible Fishing Vessel Standard by LR
13:41 SMM DIGITAL: Leading international maritime trade fair to stream conference programme online free of charge
13:23 Port of Los Angeles to reward container terminals for higher truck productivity
13:02 Dublin Port throughput increases by +7.6% in Fourth Quarter of 2020
12:35 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 4.4% YoY
12:21 Port of Zeebrugge container volume up 10.3 percent in 2020
12:10 CMA CGM announces PSS for cargo from India to North Europe & the Mediterranean
11:43 Rosmorport’s icebreakers completed over 2,400 pilotage operations in freezing seaports of Russia this season
11:18 Global Ports’ consolidated marine container throughput for the full year 2020 increased by 6.6%
10:54 Damen signs with Svitzer for ASD Tug 3212
10:54 Capacity of Russian seaports in 2021 to be increased by 50 million tons
10:30 MABUX: Bunker market this morning, Jan 20, 2021
10:12 Cryogas-Vysotsk reaches LNG milestone of one million tons
09:51 Crude oil prices rise on optimism driven by economy support
09:33 Bunker market sees mixed price movements at the Port of Saint-Petersburg, Russia (graph)
09:16 Baltic Dry Index as of January 19

2021 January 19

18:05 Wärtsilä signs a 5-year long-term service agreement with leading Chinese dredging company
17:44 Ventspils Universal Cargo Terminal maintains stable cargo turnover
17:25 CMA CGM announces FAK rates from the Middle East Gulf to North Europe and the Mediterranean
17:00 Annual German Maritime Forum to be held as a digital event on 28 January 2021
16:35 Austal launches VOLTA series of electric-powered high speed ferries
16:15 Market leader in bioplastics chooses port of Rotterdam
15:58 Zvezda starts building second LNG tanker of new ARC 7 class series
15:42 MES-S completes delivery of 87,000 dwt type bulk carrier to OCEAN JADE
15:11 ABS-Classed Suezmax is world’s first ammonia ready vessel
14:41 7th Port Planning & Development Asia Summit to be held live online on 2-5 March 2021
14:20 Alfa Laval joins forces with marine industry players to accelerate decarbonization
14:19 Throughput of port Kavkaz in 2020 rose by 13% Y-o-Y
13:56 Infocus International to hold online course on LNG business in 2021
13:18 Szczecin-Świnoujście Port complex reports on cargo handling in 2020
12:55 Russian Fishery Company demonstrated high results in 2020
12:23 RF Navy’s frigate "Admiral of the Fleet Kasatonov" makes business call at port city of Algeria
12:00 Samskip to start new container service between Amsterdam and Dublin
11:49 Beloomut hydrosystem to begin operation in April 2021
11:04 Over 10,000 frontline maritime personnel to receive COVID-19 vaccinations by end January
10:51 MABUX: Bunker market this morning, Jan 19, 2021
10:46 Costa Toscana floated out at Meyer Turku shipyard
10:20 DP World Antwerp Gateway orders fleet of Automated Stacking Cranes from Konecranes
10:12 BPA: Vaccine prioritisation needed for the unsung heroes of the UK ports sector
09:34 GTT receives its first order of 2021, from a SHI for the tank design of a new LNG carrier
09:27 Oil market sees mixed price movements
09:09 Baltic Dry Index as of January 18

2021 January 18

18:56 CMA CGM applies Local Port Charges for USA imports/export
18:26 The Valencia Containerised Freight Index rises 4.19% in December 2020
18:06 71 vessels were repaired at the “Bibiheybat” Ship Repair Yard in 2020
17:45 Klaipeda State Seaport Authority signs contract for shipping canal dredging
17:26 Hanseaticsoft’s Cloud Fleet Manager endorsed by Singapore government to help shipping companies accelerate their digitisation
17:16 Busan Por secures logistics base in Indonesia
16:47 SCF’s LNG carrier Christophe de Margerie completed her eastbound voyage carrying cargo of LNG along NSR