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Ocean Freight Pricing News

Recent Global Freight Events: Congestion, Labor, Strikes & More

Supply chain decisions for ocean freight need more than pricing and transit time information. Freightos Terminal’s key event feed keeps you informed on congestion, weather conditions, holidays, labor disputes and more, improving both long-term planning and real-time situation awareness across your organization.

  • Market Changes
    High
    June 5, 2024

    Despite a slowdown in global economic growth, container orders surged in Q1 2024, driven by CIMC, the world's largest container manufacturer, experiencing a five-fold increase, as equipment shortages hit and demand rose, particularly on North America routes.

  • Market Changes
    High
    June 5, 2024

    Check out the latest Freightos Weekly Update covering this week's trends in international ocean and air logistics.

  • Regulation / Policy Change
    Medium
    June 3, 2024

    Starting from 2026, reporting lost containers overboard will be mandatory under new International Maritime Organization (IMO) regulations.

View more key events

Ocean Freight Procurement Data & Timelines

Estimated Average Container Transit Times

Transit time data is subject to change. Using the Freightos Terminal dashboard gives you access to up-to-date transit time information.

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Frequently Asked Questions About FBX

What is the Freightos Baltic Index?

FBX stands for Freightos Baltic Index. It is the leading international Freight Rate Index, in cooperation with the Baltic Exchange, providing market rates for 40′ containers (FEUs). You can learn more about the FBX by reading the Baltic Exchange’s Guide to FBX, including the benchmarking methodology, available here.

WHAT DATA DOES THE FREIGHTOS BALTIC INDEX USE?

Unlike other freight indices, FBX are based on aggregated and anonymized real-time business data from global freight carriers, freight forwarders, and shippers that use the WebCargo by Freightos freight rate management platform. That’s why we believe our freight index to be the most accurate real-time representation of market rates available. The rates are not polled or tweaked in any way, shape or form – they derive from the same live rates that top tier logistics providers are using commercially.

How is FBX calculated?

Prices used in the index are rolling short term Freight All Kind (FAK) spot tariffs and related surcharges between carriers, freight forwarders and high-volume shippers. Index values are calculated by taking the median price for all prices (to ignore the influence of outliers on active lanes) with weighting by carrier. 50 to 70 million price points are collected every month. The daily freight rate index is published in a “sliding window” containing the relevant data that are effective and not expired from 00:00 UTC on the day before publication to 24:00 UTC on the day of publication, meaning 48 hours in total starting from 00:00 yesterday. Only rates created or modified within the last 3 months and valid during those 48 hours will be included (in practice on most trade lanes rates are volatile and almost all rates are much newer than 3 months). Rates are calculated at 06:00 UTC and published at 14:00 UTC. The weekly freight index is calculated as an average of the five business days from the same week and published each Friday.

WHICH PORTS REPRESENT EACH REGION?

The FBX flagship index is a weighted average of the twelve underlying regional route indexes. The regions are defined by the ports listed in the table below. For more information contact [email protected]

Region Ports (pre-January 28, 2020) Ports (post-January 28, 2020)
CNCAN – Guangzhou
CNNGB – Ningbo
CNSHA – Shanghai
CNSZX – Shenzhen
HKHKG – Hong Kong
JPOSA – Osaka
JPTYO – Tokyo
JPUKB – Kobe
JPYOK – Yokohama
KRPUS – Busan
TWKHH – Kaohsiung
CNNGB – Ningbo
CNSHA – Shanghai
CNYTN – Yantian
HKHKG – Hong Kong
JPUKB – Kobe
KRPUS – Busan S. Korea
SGSIN – Singapore
TWKHH – Kaohsiung Taiwan
VNVUT – Vung Tau
North America West Coast CAVAN – Vancouver
USLAX – Los Angeles
USLGB – Long Beach
USOAK – Oakland
USSEA – Seattle
USTIW – Tacoma
CAVAN – Vancouver
USLAX – Los Angeles
USLGB – Long Beach
USOAK – Oakland
USSEA – Seattle
USTIW – Tacoma
North America East Coast CAMTR – Montreal
USBAL – Baltimore
USCHS – Charleston
USEWR – Newark
USHOU – Houston
USNYC – New York
USORF – Norfolk/Virginia
USPEF – Port Everglades
USSAV – Savannah
USBAL – Baltimore
USCHS – Charleston
USEWR – Newark
USHOU – Houston
USNYC – New York
USORF – Norfolk/Virginia
USSAV – Savannah
Europe BEANR – Antwerp
DEBRE – Bremen
DEHAM – Hamburg
FRLEH – Le Havre
GBFXT – Felixstowe
GBLGP – London Gateway
GBSOU – Southampton
NLRTM – Rotterdam
BEANR – Antwerp
DEBRV – Bremerhaven
DEHAM – Hamburg
ESALG – Algeciras
FRLEH – Le Havre
GBLGP – London Gateway
NLRTM – Rotterdam
North Europe BEANR – Antwerp
DEBRE – Bremen
DEHAM – Hamburg
FRLEH – Le Havre
GBFXT – Felixstowe
GBLGP – London Gateway
GBSOU – Southampton
NLRTM – Rotterdam
BEANR – Antwerp
DEBRV – Bremerhaven
DEHAM – Hamburg
FRLEH – Le Havre
GBFXT – Felixstowe
GBSOU – Southampton
NLRTM – Rotterdam
South America East Coast ARBUE – Buenos Aires
BRPNG – Paranaguá
BRSSZ – Santos
UYMVD – Montevideo
ARBUE – Buenos Aires
BRPNG – Paranaguá
BRSSZ – Santos
COCTG – Cartagena
PAMIT – Manzanillo
UYMVD – Montevideo
South America West Coast CLSAI – San Antonio
ECGYE – Guayaquil
PECLL – Callao
CLSAI – San Antonio, Chile
COBUN – Buenaventura
ECGYE – Guayaquil
PECLL – Callao
PEPAI – Paita
Mediterranean EGPSD – Port Said
ESALG – Algeciras
ESBCN – Barcelona
ESVLC – Valencia
FRFOS – Marseilles/Fos Sur Mer
GRPIR – Piraeus
ILASH – Ashdod
ITGIT – Gioia Tauro
ITGOA – Genova
MTMAR – Malta Freeport
TRAMR – Ambarli
EGPSD – Port Said
ESALG – Algeciras
ESBCN – Barcelona
ESVLC – Valencia
FRFOS – Marseilles/Fos Sur Mer
GRPIR – Piraeus
ILASH – Ashdod
ITGIT – Gioia Tauro
ITGOA – Genova
ITSPE – La Spezia
MTMAR – Malta Freeport
TRAMR – Ambarli
TRIZT – Izmit

HOW IS OUR OCEAN FREIGHT INDEX BETTER THAN THE SHANGHAI FREIGHT 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. FBX freight rate data is aggregated and anonymized from live business databases with tens of millions of price points updated on a daily basis. Freightos’ vast database enables a high level of accuracy in calculating the market rate, and includes precise ocean freight rate historical charts. FBX coverage includes core routes to and from China as well as many other major global routes. The FBX is the only daily freight rate index and is also the only freight index that is IOSCO compliant and regulated by the EU. The Shanghai Containerized Freight Index (SCFI) was created by the Chinese government in 2005 and is operated by the Shanghai Shipping Exchange. As of 2010, oversight of the accuracy of the SCFI is provided by KPMG. In contrast to FBX, the SCFI is only reported once a week, and only covers spot rates for export from Shanghai to 15 ports around the world. These rates include port-to-port charges and associated ocean surcharges. While FBX data is based on live business databases from multiple global freight forwarders, SCFI rates are collected through a weekly survey of SCFI panelists, 20 carriers and 17 shippers or forwarders. Access to some FBX metrics are free, as part of our effort to make global trade more transparent, while data exports and more granular data are available with a paid account. Our Ocean Freight Rate Index makes it easy to monitor ocean freight benchmark performance relative to the industry.

Can I source FBX data?

FBX data is available to subscribers on the Freightos website and via Thomson Reuters Eikon or Bloomberg screens. It is also updated weekly on the JOC’s Market Data portal, pulled weekly into TI Insight’s GSCi market intelligence platform. Besides viewing charts, you can download csv files or png charts. If you are a journalist, analyst, or armchair logistics buff, contact [email protected] if you’re interested in a CSV version of data.