Launch of extended BAI Spot
The Baltic Exchange, in partnership with TAC Innovation, has extended the Baltic Air Freight Spot (BAI Spot) to publish FCA-compliant daily benchmarks on routes ex Hong Kong, India and Korea. Using the Baltic’s panellist-assessment methodology, the indices provide independent market pricing for index-linked contracts, benchmarking and risk-management tools such as futures and derivatives.
"As the first FCA-regulated air cargo benchmark, BAI Spot brings the same transparency seen in other transport and commodity markets to air freight," said Mark Jackson, CEO of the Baltic Exchange. "This initiative will help the industry make better operational and financial decisions."
BAI Spot is already used by airlines, forwarders and shippers to track rate moves and support hedging discussions, with plans to expand coverage across Asia, Europe and the Americas. (ah)