Happy day for Xeneta. I am happy to share that the Xeneta platform now holds 23+MN data points and is reporting rates for 160K port-port pairs. This is an increase of 35% from Q3 2016. With over 700 companies reporting short and long-term rates, Xeneta is the largest real-time ocean freight rates intelligence platform.
Our data reports current ocean freight rates allowing shippers, freight forwarders and carriers the opportunity to see how your rates compare to the current market. Our platform also reports historical ocean freight rates allowing for the industry to see trends in the market.
For example, have a look at the roller coaster ride of shipping prices for China East Main ports-North Europe Main ports dating back to October 2014 to today. It can make anyone nauseous.
Luckily, we can see that this month's ocean freight rates for this corridor so far are the highest they have been since October 2014. Signs the market is improving. However, we can't be too sure as Chinese New Year starts in 17 days. All can change then. Time will tell.
Thank You to All
A big thank you to the shipping industry for supporting Xeneta and to our customers for providing data to help the industry as a whole. We are definitely hearing from the community that data and tools are a necessity to make the ocean freight market fair and sustainable. We are not there yet, but more and more players are embracing transparency and technology.
Thanks to our team at Xeneta for crunching through the millions of rates and thousands of, many times, chaotic rate sheets to upload to our platform.
What to Expect for Ocean Freight Rates in 2017?
Shipping prices will certainly remain active leading up to Spring and probably beyond. We will also see what European negotiations for long-term contracts are concluding on.
Join us January 17th for our next quarterly webinar as we analyze container shipping prices for the main global routes.