Family: FBX
 
Benchmark: FBX01 and FBX03
 
Announcement: FBX01 and FBX03 Benchmark Upward Movement on 28 July 2021
 
In light of market feedback received that FBX01 and FBX03 did not accurately reflect the market, a detailed investigation was conducted, outlier data was identified and excluded from these two benchmarks.
 
In the process of benchmark production, the Calculating Agent (Freightos) verifies the relevant rata and excludes non-matching data from the Input Data, which is subsequently used to determine the FBX benchmarks.  The investigation identified data sources as an outlier in the Input Data, which accounted for the data skew.  Steps have now been taken to exclude this data from the Input Data and the Guide to FBX benchmarks will be updated to reflect an additional outlier detection process.
 
Effective Wednesday 28 July, the benchmarks will be published without the outlying data and they will see a significant upward movement.
 
Market feedback is an important part of the benchmark process that ensures robustness in different market conditions and that they are always market relevant.
 
If you have any questions, please do not hesitate to contact the freight team on [email protected]
 
MA/Containers/202107/4/N