Freightos unveils beta launch of international freight price index

The digital global freight rate marketplace provider announced the beta launch of the Freightos International Freight Index (FIFI).

   Freightos, a digital global freight rate marketplace provider, announced the beta launch of the Freightos International Freight Index (FIFI).
   The FIFI, which aggregates live freight rates from hundreds of carriers, forwarders and shippers, includes container pricing, price ranges on key lanes, historical pricing and volatility, and the ability to instantly estimate pricing on specific routes, Freightos said.
   The FIFI is published each Sunday, reporting on prices from the previous week (Sunday through Saturday). It covers prices for standard 40-foot containers on the following trade lanes: China to the U.S. (overall), China to the U.S. East Coast, China to the U.S. West Coast, China to Europe, Europe to the U.S. East Coast, and the U.S. East Coast to Europe.
   “Global freight transparency starts today,” Freightos Founder and CEO Dr. Zvi Schreiber said. “Our lifestyles rely on importing and exporting. But companies have been hindered by volatile, opaque shipping rates. We regularly see retailers and manufacturers overpaying on importing by up to 30 percent. Today, Freightos is shining a light on freight to fix that market distortion.”