Elevated pricing in the fourth quarter comes as shippers on the westbound trade lane prepare for annual long-term rate negotiations with carriers.
The financing is meant to grow the NYSHEX Freight Index, which is used to price index-linked ocean freight contracts and four futures contracts that were launched in April on the Intercontinental Exchange.
Supply chains, particularly in Asia, are only just recovering from delays and port congestion caused in large part by severe storms in Asia between July and September.
