Baltic Exchange's air freight indices take off
The Baltic Exchange, which already provides benchmark assessments for the maritime markets, has launched weekly air freight indices. As announced earlier this year, it has partnered with Hong Kong-based air cargo pricing publisher TAC Index, published since 2016, and the new indices include six outbound indices and 13 individual destination baskets.
These products will be branded as the Baltic Air Freight Index (BAI) - powered by TAC data. They will come under the governance of Baltic Exchange Information Services Limited, with TAC Index acting as the calculating agent.
Priced in USD/kg, they reflect transacted rates from key hubs: London, Frankfurt, Hong Kong, Chicago, Shanghai and Singapore to the main import regions globally. Rates are provided to the calculating agent by leading international freight forwarders and published each Monday by the Baltic Exchange. (ah)