Xeneta Shipping Index (XSI®) Contract Market: April 2021
Apr 29, 2021
Welcome to the April 2021 edition of the Xeneta Shipping Index (XSI®) for the long-term contract container market. The global long-term market XSI ® continued to rise in April, increasing by a further 4.1% to reach 140.29 points. With both short-term and contracted rates maintaining their momentum, the benchmark is now up 21.1% year-on-year and has risen by 23.5% since Dec-20.
“It’s been another incredible month, in a unique year, for the container shipping segment,” comments Xeneta CEO Patrik Berglund. “In the US we continue to see severe delays and bottlenecks, with strong demand – driven in part by changing e-commerce habits – driving rate development. Some shippers are reportedly paying double the contracted rates they enjoyed just one year ago.
There was, Berglund points out, anything but relief in April. All trade corridors on the long-term XSI® showed indicators pointing relentlessly upwards.
In addition, Xeneta also cautions that the short-term market XSI® is now showing increases on trans-Atlantic trade lanes, suggesting further long-term rates pain for shippers may lie ahead.
XSI® - US Imports / Exports
US imports on the long-term market XSI ® reached yet another all-time high in Apr-21 after increasing 3.5% month-on-month to 134.08. While exports also rose, jumping by 3.3% to 93.77 points, the benchmark remains down 5.7% compared to the same period of last year.
XSI® - Europe Imports / Exports
European imports on the XSI ® continued their meteoric rise jumping by an additional 5.4% month-on-month to 164.33. Exports also rose in Apr-21, albeit to a lesser extent, increasing by 2.3% to 129.08.
XSI® - Far East Imports / Exports
Far East imports on the long-term market XSI ® increased only marginally in Apr-21, rising by just 0.2% to 116.33 points. The benchmark is now 15.7% higher than the same period of 2020. Meanwhile, exports continued their steady rise, appreciating a further 5.3% month-on-month to 176.10.