What is CFX?
CFX (Cogoport Freight Index) is an international index that provides live benchmarks for international container trade from region to region.
What does CFX tell us?
CFX tells you what is the trade trend in freight rate movements, the weekly difference with the feature of forecasts coming soon.
How is CFX used?
CFX is a multipurpose index. The index helps users locate data instantaneously that’s used as a benchmark to measure the performance of the container freight rate movement. You can plan your shipments on the basis of the current rate trend of a region, form policies and future plans. Also it can be used as an analysis tool for you to measure you past, present and future transactions.
Why was CFX developed?
Freight rate volatility is a very common phenomenon in the shipping industry which has an effect on all the stakeholders of this industry. Many were incurring additional and unprecedented supply chain costs and losses and redundancies of policies. The need to monitor these freight rate volatilities in a uniformed manner led to the development of CFX.
How is the index interpreted?
The index composite shows the statistical measure of weekly change in container freight rate sentiment for given regions. Any upward movement in the index portrays positive trade that translates to increase in demand. This increment results in an increase in the freight rate for that particular region. A downward movement, likewise, translates to a fall in demand and hence a fall in freight rate.
How is CFX calculated?
CFX is calculated by aggregating and anonymizing data from live business database with millions of price points updated on a weekly basis. Prices used in the index are rolling short-term Freight Any Kind (FAK) spot tariffs and related surcharges. Index values are calculated by taking median price for all prices of the most traded lanes with weighting by the trade share of the ports.
How are CFX data collected?
CFX data is collected from Cogoport’s database containing millions of price points from global carriers and freight forwarders that use our Platform.
What historical data are available?
All the data from January 2017 are available in the form of composite index and trade charts.
How frequently is CFX published?
CFX is published weekly.
Is the base period subject to change?
No the base period is not subject to change. CFX is calculated through a mix of fundamentally weighted index model base weighted index model. Unless, there is a major addition in the carrier or routes, the base period will remain as January 2017.
Where are CFX data published?
CFX data is published on the Cogoport website freely. Anyone can access the Index.
What are some of the limitations to CFX?
CFX is susceptible to any unpredictable uncertainties that affect the container freight rate. It is not merely change or the rate of change that causes uncertainty, but rather the unpredictability of change that affects the variables in critical dependent relationships. There are various types of uncertainty. Environmental uncertainty, behavioural uncertainty, supplier-customer uncertainty, competitive uncertainty, and strategic uncertainty.
What are the areas that CFX does not cover?
CFX covers the trade movements of only Dry Cargo Containers and CIF exports. CFX is calculated on the assumption that the major trade bearing ports display the trade movement sentiments of the given regions. Also, only major global carriers and freight forwarders’ freight rates are taken into consideration.
Is this data available for free?
Yes, the data is available absolutely free. Cogoport promises transparency to all the stakeholders and therefore, does not believe in keeping the data inaccessible.