The Route Map For Tracking Freight Rates
In the existing overland lorry freight industry, which is dominated by small regional operators, the freight rates are very dynamic. The existing market is very sensitive to issues such as supply demand of trucks, seasonal fluctuation, fuel price hikes, off-loading of major shipment etc. The major lacuna in the existing system is the lack of comprehensive information on the freight rates and the density of freight lorries on certain routes (route density) etc. It is therefore very difficult to predict the on-going trend in freight rates, the emerging trend in lorry availability for a given period and, to analyze the freight rates. Freight rates for different routes on required dates is therefore not readily available, thus
hampering the analysis of freight rates and movement of shipment on local and national level as well. Lack of suchcomprehensive data often results in wide fluctuations of freight rates thereby leading to non-optimization of the freight space. The transport industry in India is highly fragmented and the study of rates is very difficult. No studies have been carried out on rates structure and there are no databases available on the rates and volume of material transported through each routes. The Road Freight Index (RFI), the first of its kind initiative by Transport Corporation of India was started in 1998. TCI being a service provider and a pioneer in the Supply chain solutions Industry, started this service to bring in benchmarks, best practices and standardization into this sector in India, based on global practices. The Road Freight Index (RFI) is an index of weighted average freight rates compiled across various routes, similar to a stock market index.
The Road Freight Index (RFI) is a tool, which helps to make comprehensive analysis of freight trends, route wise and date wise and helps to forecast the freight trends and freight rates for the near future.For More Details Please Contact :
Transport Corporation of India Limited
Phone: (0124) – 2381603-07