Methodology for determining freight indices

Abstract

The paper considers the issues of quantifying the indicator of the freight market conjuncture and analyzes some basic principles used in calculating freight indices. It is noted that the current geopolitical situation has a significant impact on the general behavior of the global freight market and inevitably leads to temporary restrictions on the functioning of the Russian market, which objectively determines the need to calculate domestic indices based on their own methods. The existing world practice of determining freight indices is considered, as well as the features of the Russian freight market as an integral part of the world market. It is emphasized that the nomenclature of transported goods, the geography of transportation and the parameters of the fleet used are radically different from the world ones, which makes them irrelevant for Russian shipowners mastering export cargo flows from Russia and also that foreign freight indexes are only informative and cannot be used in practical work. The paper shows the structure of the formation of freight rates and identifies the main components of the carrier’s expenses. The structure of the freight rate is the basis for the formation of the proposed methodology for calculating freight indices. The criteria for determining the specific weights of individual sectors of the freight market are considered. The conclusions drawn in the conducted research are supported by analytical data presented in graphical form. The practical use of the presented methodology will allow interested parties involved in transportation to make informed management decisions.