The global XSI ® for long-term ocean freight rates jumped by a further 10.1% in June to 421.96 points. The index has now set a new all-time high for four consecutive months. Despite a degree of macro-economic uncertainty clouding the horizon, all major trades saw prices moving up, with some corridors showing significant gains.
Is this growth sustainable? Is there an end in sight?
How do falling spot rates and looming industrial action at major ports play a role now heading into the tender season? Get a full, contextual view of real-time ocean freight rates in our July State of the Ocean Market webinar.
In the recent news, the IMF downgraded its US growth expectations, primarily due to inflation. However, while growth may not be at the expected level, there still have been solid gains.
The Far East - US East Coast trade lane is up 12% so far this year due to volumes shifting away from the Far East-West Coast and towards Far East - East Coast. Overall, total US imports are performing well, especially compared to Europe, which is currently down.
With strikes in Northern Germany, ongoing labor negotiations in the US and new Covid cases rising in Shanghai, it is crucial to monitor the market situation closely.
There is also the question of how scared inflation has made importers — will they pull their peak season forward? Are they nervous about delays? If they ship early, will they have the space to store all their inventory?
Join Michael Braun, VP of Customer Solutions at Xeneta, and Emily Stausbøll, Shipping Analyst at Xeneta, as they review changes in the short- and long-term markets (demonstrated by millions of datapoints crowdsourced by Xeneta) to reveal larger trends and share actionable insights.
- Spot rates and premium surcharges are falling on major corridors – what are the impacts on your contract negotiations?
- Month-on-month market high & low freight rates for major corridors
- Expert insight on schedule reliability and capacity challenges
- Should you opt for short or long-term contracts or a mix of both?
- LIVE Q/A
Meet the Speakers:
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