Bayer Takes Advantage of the New Freightos Air Index

To meet the unprecedented volatility in the global supply chain market brought about by the COVID-19 crisis, Freightos Data – a subsidiary of the Freightos Group has made moves to provide increased levels of transparency and support decision making processes.

The result is the Freightos Air Index, and air cargo index, based on transactional air prices. The index is published each Sunday with data from the prior week and provides comprehensive pricing visibility across weight breaks, trade lanes, and hundreds of airport pairs.

The Freightos Air Index is in a free open beta phase, and additional lanes and features continue to be made available as the testing period progresses. It consists of a headline index of pricing across global air cargo lanes, weighted based on trade lane activity, as well as price comparisons.

As a client of Freightos, pharmaceutical giant, Bayer understands all to way the need to increased transparency and visibility in a world where heightened demand, COVID-shutdowns, congestion, and more have pushed freight rates into the stratosphere.

“The highly volatile air freight markets during the pandemic showed once again how important it is to have transparency on market developments,” said Head of Global Warehouse and Transportation at Bayer, Matthias Mentschel. “Better information leads to better decisions, which in the end benefits our patients and consumers.”