TAC Index publishes Indian outbound indices to the USA and Europe
The Hong Kong-based global air cargo rate data provider TAC Index announced its entry into the Indian market with the publication of the first two Indian outbound indices to the USA and Europe.
In an exclusive interaction with The STAT Trade Times, TAC Index managing director John Peyton Burnett reported that they are having a big push in India and have already gained traction, particularly amongst the pharmaceutical companies.
Global pharmaceutical companies and other shippers, have frequently requested TAC Index to publish out of India. Pharmaceuticals post-Covid-19 is a product in strong demand and India is a global hub particularly for Active Pharmaceutical Ingredients (API). Burnett noted that India is a heavy spot market with pharma as the main use for air freight whilst auto is still in the doldrums.
"Post Covid-19, just by looking at the charts you can see a huge price dislocation as demand for air cargo surged and passenger belly hold capacity collapsed, the latter particularly affecting the Indian market. Outbound India rates are changing on a daily, weekly, monthly basis which makes it very hard for shippers to plan ahead," he said.
He also informed us that these are just the first of a series of routes to be released both outbound and inbound for India as there is a strong demand for price indexation; strong inbound from the US and Europe to India and globally outbound from India. Burnett said, "We will be publishing routes, pending thresholds being met, as requested by our customers."
At the moment TAC Index has 52 routes published globally and it aims to have the top 50-100 origin-destination pairs by revenue published before year-end.TAC Index is a neutral, third-party data provider with unique data sets that cannot be replicated. The transactional data is sourced from freight forwarders.
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