Welcome to the summary of the June 2020 edition of the Xeneta Shipping Index (XSI®) for the long-term container market. Here is a snippet of how the long-term container market has adjusted to that new normal in June 2020.
According to the latest report from Xeneta, the global XSI® fell by 1.8% in Jun-20 to 112.40 points following a decline of 1.2% reported in the previous month. While the index has fallen for two consecutive months, it remains at a historically high level. However, year-on-year the benchmark is down 1.3% and it has declined by 0.2% since the end of 2019.
XSI® - Europe Imports / Exports
Imports on the European XSI® fell by 1.9% in Jun-10 to 110.45, representing the fourth consecutive month-on-month decline. Since the last all-time high was set in Feb-20, the index has lost 8.0% of its value. Year-on-year the index has fallen by 3.4% and it has declined by 4.1% since the end of 2019. Whilst European exports also fell in Jun-20, the decline was less severe, with the index falling by just 0.3% to 120.97.
XSI® - Far East Imports / Exports
Far East imports on the XSI® increased by 1.0% in Jun-20 to 105.54 points, following a rise of 3.9% reported in the previous month. As a result, the index is now up 6.3% year-on-year and has risen by 7.0% since Dec-19. Developments in exports were less favorable, with the index declining by 0.4% to 120.14. Since Jan-20, the benchmark has fallen by 3.1% and is down 5.2% compared to the same period of 2019.
XSI® - US Imports / Exports
US imports on the XSI ® fell by 4.6% in Jun-20 to 121.38, although the benchmark remains 2.6% higher than the same period of 2019. Since the end of last year, the index has declined by 2.9% but remains at relatively high levels by historical standards. Exports also fell month-on-month in Jun-20, falling by 3.5% to 92.69 points. Whilst the benchmark is still 1.8% higher than in Jun-19, it is down 3.3% when compared to Dec-19.