Baltic Exchange, in partnership with TAC Innovation, has officially launched the extended Baltic Air Freight Spot Indices (BAI Spot) to include a comprehensive set of routes originating from Hong Kong, India and Korea. 

These are the first-ever daily spot air freight indices developed under the UK Financial Conduct Authority’s (FCA) benchmark guidelines, using the Baltic’s established methodology with panellist assessments to ensure greater data integrity and market confidence.

Built on the Baltic’s 40 plus years of ocean freight benchmarking expertise and developed with input from leading airlines and freight forwarders, BAI Spot provides a daily, independent assessment of spot air cargo rates. The indices are designed for settling index-linked physical contracts (ILAs), price benchmarking, and risk management solutions (such as futures and derivatives), offering stakeholders a credible and consistent measure of market performance.

As air cargo continues to play a prominent role in maintaining supply chain resilience, particularly for pharmaceuticals, electronics, apparel and e-commerce sectors, BAI Spot Indices deliver much-needed clarity in a historically opaque market, and come at a time of fluctuating demand, capacity constraints, and shifting global trade routes. 

With the new routes now live, there are plans in place to extend coverage to more airports in Asia as well as Europe and the Americas, reflecting the shifting dynamics of global supply chains. 

BAI Spot is increasingly recognised by airlines, freight forwarders and multinational shippers as the foundation for next-generation air freight risk management instruments. They are already being used to benchmark contract negotiations, assess rate movements and support hedging discussions, demonstrating their practical value in real-world decision-making.

“The collaboration with TAC Innovation on BAI Spot marks a significant step forward in building a transparent and data-driven framework for the global air cargo market,” said Mark Jackson, CEO of Baltic Exchange. “For the first time, the industry has an FCA-regulated benchmark that reflects true market conditions. This development is about bringing the same level of transparency seen in other major transport and commodity markets to air freight and enabling better decision-making across the global supply chain. The launch reflects strong industry engagement and a growing recognition of the value our benchmarks bring to operational and financial decision-making.”

John Peyton Burnett, Founder and Managing Director of TAC Innovation, said, “The extension of BAI Spot reflects the value of bringing much-needed transparency to the air cargo market. This is just the beginning, not only for BAI Spot but also for TAC Innovation. While we’re known for the neutral, transparent and precise data that TAC Index delivers to the industry, we’re expanding our suite of risk management information services and subscription models to broaden and democratise tools for air cargo risk management. We believe there is significant scope to make air cargo more efficient for all market players, and are actively working with the industry to innovate new solutions to solve critical pain points.”