Freight-rate benchmarking platform Xeneta is launching a daily index for the container market to counter "unreliable" indices and muscle in on the freight derivatives market.
The Oslo-based company has raised questions about the transparency of existing container freight rate benchmarks.
Its index will focus on short-term rates on eight routes in partnership with financial index provider Compass Financial Technologies.
"The unreliability of existing indices and their lack of transparency are what motivated us to create a new data source for the containerised ocean freight market together with the Compass team," said Xeneta chief executive Patrik Berglund.
