The Baltic Exchange in London is launching what it claims is the first independent benchmark for boxships, as well as an escrow service to help members buy and sell ships.

It is teaming up with Freightos, the digital container freight platform, for the Freightos International Freight Index.

This will reflects weekly spot rates for 40-foot containers based on between 12 million and 18 million price points collected every week on 12 main shipping trade lanes.