Container Freight Rate Benchmarks News

Shipping consultancy Drewry and shipment management software solutions provider CargoSmart have expanded their cooperation agreement to cover a broader exchange of market intelligence data on the container shipping market. The two companies first announced their cooperation agreement in April 2012, when Drewry began using data from CargoSmart to augment its coverage of ocean carrier service reliability on key container shipping trades. “This broader collaboration will enable Drewry to take greater advantage of the data available from CargoSmart’s system…

Drewry’s Global Ocean Container and Air Freight Rate Benchmarks Available to LLamasoft Customers for Use in Supply Chain Modeling. LLamasoft, a global leader in supply chain design software solutions, and Drewry Maritime Research, the leading provider of freight rate benchmarking today announce a partnership to make Drewry’s global ocean container and air freight rate benchmarks available to LLamasoft customers for use in supply chain design. LLamasoft will resell Drewry’s Container Freight Insight (CFRI) and Sea & Air Shipper Insight (SASI) benchmarking products as part of the new LLamasoft Data Services offering. Drewry publishes container…

Half of all index-linked contracts filed with the US Federal Maritime Commission reference Drewry’s Container Freight Rate Insight pricing benchmarks. Drewry Maritime Research’s container freight rate benchmarks are the index of choice in index-linked container contracts, according to the US Federal Maritime Commission (FMC). The agency also indicated that uptake of index-linked container contracts on US trades was fast growing. Index-linked contracts allow freight rates to be adjusted during the life of the agreement by reference to an external, independent market price index. Speaking at the Container Freight Derivatives Association’s (CFDA) Global Container Freight Forum in London last month…

Marks & Spencer joined other multinationals from North America, Asia and Europe which have found in Drewry’s 150 sets of port region-to-port region container freight rates a valuable source of pricing benchmarks to help their transport procurement decisions. Due to the launch of the global container freight rate benchmarks and associated regional and global freight rate indices, Drewry is making the unique, industry-first freight rate data available on-line to subscribers at www.containerbenchmarks.com. This interactive on-line database provides current and historical market-based container freight rate benchmarks for multiple trade routes and port pairs. The rate benchmarks are based on averages of rates paid by shippers to freight forwarders.