Baltic Exchange and Freightos to launch global container freight index

Singapore - 25 April 2018

For the first time ever the global container shipping industry will have an independent, audited benchmark thanks to an innovative tie-up between the Baltic Exchange, the most trusted name in freight benchmarking, and Freightos, the digital container freight platform.

The two organisations today (25 April) announced at Singapore Maritime Week that the Freightos International Freight Index, which reflects weekly spot rates for 40-foot containers based on 12 to 18 million price points collected every week on 12 main shipping trade lanes, will be audited by the Baltic Exchange and republished as the Freightos Baltic Indices. This will also include a new headline index – the FBX Global Container Index (FBX) – a weighted average of the 12 underlying route indexes, while setting the stage for derivative financial instruments in the future.

The Baltic Exchange already provides daily assessments for the dry bulk, tanker and gas freight markets which are used widely in both the physical shipping markets and to settle Forward Freight Agreements (FFAs). Freightos market intelligence, fed by the world’s largest freight rate database, is used by logistics services providers and supply chain organisations alike.

The Baltic Exchange is a trusted and independent body with a 274-year track-record of providing services to the bulk shipping industry and financial services, and a highly experienced manager of a diverse range of assessments for the maritime markets, backed by the Singapore Exchange (SGX), Asia’s leading and trusted market infrastructure and one of the world’s great derivative exchanges.

Announcing the partnership, Baltic Exchange Chief Executive Mark Jackson said: “Baltic Exchange benchmarks are already widely used as settlement mechanisms in the derivatives and physical markets for billions of dollars-worth of bulk freight transactions. Our products have allowed shipowners, charterers and traders to manage the volatile business of moving bulk commodities by sea. We comply with the standards set by International Organization of Securities Commissions (IOSCO) and have been publishing data since 1985. By offering our robust auditing methodology to the FBX, we hope to provide the framework for the container shipping industry to develop sophisticated risk management tools.”

Freightos Founder and CEO Zvi Schreiber said: “This exciting endeavour means that the world’s manufacturers, distributors and retailers, and logistic services providers, will for the first time be capable of managing ocean freight rate volatility. Our technology and massive database of multimodal freight rates already power both market intelligence and real-time freight booking and management for over 1,000 carriers and forwarders, as well as over 3,000 shippers. We’re incredibly proud to drive more efficiency to the container freight market, cannot think of a stronger partner than the Baltic Exchange and the Singapore Exchange, and are looking forward to the future financial instruments that this index unlocks.”

The FBX represents ocean freight prices, including all ocean surcharges (BAF, CAF, SCS, PCS, PSS, WRS). Market intelligence on port and inland charges are available separately. FBX is published weekly on Sundays and represents the price of the previous week (Sunday through Saturday). Prices used in the index are rolling short term Freight All Kind (FAK) spot tariffs between carriers, freight forwarders and high-volume shippers. Index values are calculated by taking the median price for all prices on active lanes with weighting by carrier. 50 to 70 million price points are collected every month.

FBX Global Container Index covers the following shipping lanes:

FBX01: China/East Asia to North America West Coast
FBX02: North America West Coast to China/East Asia
FBX03: China/East Asia to North America East Coast
FBX04: North America East Coast to China/East Asia
FBX11: China/East Asia to North Europe
FBX12: North Europe to China/East Asia
FBX13: China/East Asia to Mediterranean
FBX14: Mediterranean to China/East Asia
FBX21: North America East Coast to Europe
FBX22: Freightos Europe to North America East Coast China/East Asia
FBX24: Europe to South America East Coast
FBX26: Europe to South America West Coast

FBX is based on aggregated and anonymised real-time data from global carriers, forwarders and shippers that offer services on or use the Freightos AcceleRate freight rate management platform and have consented to this usage. is the digital platform for international freight which allows shippers to instantly compare and book freight quotes for air, ocean and truck movements, while managing shipments online. Freightos also provided automation and online sales channels for both carriers and forwarders.

FBX data will be available to subscribers on the Baltic Exchange website, via the Freightos website and on Thomson Reuters Eikon screens.

About the Baltic Exchange
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 640 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.

Baltic Exchange services

• Independent, high quality dry, wet and gas freight market information
• Self-regulated chartering, sale and purchase and freight derivatives markets
• Central forum for competing freight market interests
• Framework ensuring high standards of business practice and co-operation
• London-based business facilities for members

About Freightos
Freightos® makes global trade frictionless with the world’s online platform for the trillion dollar international shipping industry. 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. Freightos AcceleRate™ and Freightos WebCargo™ power rate management, automated pricing, and online freight sales for over 1,000 logistics service providers and carriers, including multi-billion dollar companies like Panalpina, Hellmann and Nippon Express.

Freightos has accumulated the world’s largest global database of multimodal freight rates, providing industry transparency with the Freightos International Freight Index. Founded by serial entrepreneur Zvi Schreiber, Freightos is a logistics technology pioneer with a worldwide presence, and has raised $50 million from leading venture funds, including GE Ventures.

The Baltic Exchange, press release