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In March 2017, Freightos raised $25 million in Series B funding led by GE Ventures bringing the company's total funding to $50 million. In April 2018, Freightos launched a daily containerized index, called the Freightos Baltic Exchange Index. [13] This is widely used as an indicator of global container prices.
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).
Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo. For example, bulk coal long-distance rates in America are approximately 1 cent/ton-mile. [2] So a 100 car train, each carrying 100 tons, over a distance of 1000 miles, would cost $100,000.
The Baltic Dry Index (BDI) is a shipping freight-cost index issued daily by the London-based Baltic Exchange. The BDI is a composite of the Capesize , Panamax and Supramax timecharter averages. It is reported around the world as a proxy for dry bulk shipping stocks as well as a general shipping market bellwether.
In late 2021 and the first month of 2022, container ships have remained at American ports unloading goods for seven days on average, 21 percent higher than at the start of the pandemic. The mayhem at ports and shipping yards was a key driver for rising prices together with the market dominance of major companies.
This is a list of the 30 largest container shipping companies as of February 2024, according to Alphaliner, ranked in order of the twenty-foot equivalent unit (TEU) capacity of their fleet. [1] In January 2022, MSC overtook Maersk for the container line with the largest shipping capacity for the first time since 1996. [2]
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