Let me answer a couple of questions you probably have.
Why Launch a Freight Index?
Given our commitment to freight transparency, launching a freight index is the next natural step. FIFI helps companies big and small easily access market price information for shipping containers on major trade lanes, aggregated from live business data, together with historical price behavior. This is an essential tool to making business decisions.
Why Launch it for Free?
Even though access to similar data assets typically sells for thousands of dollars per seat, our business is about improving freight sales and booking with Freightos AcceleRate, Freightos WebCargoNet and the Freightos Marketplace, not selling data. The data we’ve collected is valuable but we believe it can be best leveraged by the open market, powering better freight decision making. By making this index for the six main trade lanes available for free to everyone, we help level the playing field and empower all stakeholders with information that was previously scarce. All that we ask is that index users register for a free account and credit Freightos when quoting the index values.
What’s Wrong With Existing Freight Indexes?
There’s nothing wrong with existing freight indexes. But we think we can still do better.
FIFI is unique in that it leverages a full set of real-time, aggregated and anonymized business data that global carriers, forwarders and shippers use for daily business. This is quite unlike most other freight indexes that rely on a relatively small set of sample data polled from market participants. Given the live business usage of this data, we believe these prices to be the most accurate representation of market rates. The bottom line is that by eliminating reporting inaccuracies and lag time, while tapping into an unprecedented broad market representation, FIFI represents market conditions as business operators actually experience it.