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Global Container Freight Index, July 2019 – August 2022. In 2021, as a consequence of the COVID-19 pandemic and, later, the ongoing 2022 Russian invasion of Ukraine, global supply chains and shipments slowed, causing worldwide shortages and affecting consumer patterns.
The twenty-foot equivalent unit (abbreviated TEU or teu) is a general unit of cargo capacity, often used for container ships and container ports. [1] It is based on the volume of a 20-foot-long (6.1 m) intermodal container, a standard-sized metal box that can be easily transferred between different modes of transportation, such as ships, trains, and trucks.
On the other hand, Intermodal container shipping rates depend heavily on the route taken over the weight of the cargo, just as long as the container weight does not exceed the maximum lading capacity. Prices can vary between $300-$10,000 per Twenty foot equivalent unit (TEU) depending on the supply and demand of a given route. [3]
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The Freightos International Freight Index was first launched as a weekly freight index in early 2017. [7] The Freightos Baltic Index has been in wide use since 2018. [8] It is currently the only freight rate index that is issued daily, and is also the only IOSCO-compliant freight index that is currently regulated by the EU (in particular, the European Securities and Markets Authority).
A shipping container is a container with strength suitable to withstand shipment, storage, and handling. Shipping containers range from large reusable steel boxes used for intermodal shipments to the ubiquitous corrugated boxes .
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