<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=248564&amp;fmt=gif">
See Xeneta in action
Learn more about the platform in your own way.
Customized Demonstration

Schedule a personalized demo of the Xeneta platform tailored to match your container shipping and air cargo procurement strategy.
Schedule Now
Live Group Product Tour

Shed light on the volatile container shipping and air cargo market with real-time, neutral freight rate data. Join our weekly LIVE 15-minute group demo to see for yourself.
Sign up Here

" >

" data-form-redirect="https://www.xeneta.com/xeneta-live-group-demo-thank-you-" >
2 min read  | XSI

Xeneta Shipping Index (XSI®) Contract Market: April 2022

Katherine Barrios  | April 28, 2022

April saw the third consecutive monthly climb in long-term contracted ocean freight rates, with shipping costs rocketing by 11.1% globally to stand 109.9% up year on year.

The data, revealed in the latest Xeneta Shipping Index (XSI®) Public Indices for the contract market, demonstrates how supply chain demand, successful carrier strategies and continued COVID disruption in China are coalescing to “pile on the pain” for shippers worldwide.

“Yet again we see the carrier community sitting pretty when it comes to long-term contracted rate negotiations,” comments Xeneta CEO Patrik Berglund. “The data from our contributors is one indicator, while the financial performance of leading operators is another. They are, quite frankly, reaping huge rewards from a red-hot market.”

Here he points to the latest results from COSCO subsidiary OOCL, which reported revenues of USD 5.16bn for the quarter, up 71% year-on-year. Profits were no less dramatic, with COSCO and OOCL reporting USD 3.3bn in Q4 2021, while forecasts for Q1 2022 point to a figure of around USD 4.3bn.

In the last week, Maersk also released its figures for the first three months of the year, showing revenues of USD 19.3bn, with an underlying EBITDA of USD 9.2bn, beating analyst expectations. It’s a position of power the carriers have no desire of relinquishing, as Berglund explains.

XSI® - US Imports/Exports  

US imports on the XSI ® rose by 9.0% in Apr-22 to 281.15 points. This represents a new all-time high for the index after fluctuating over the last few months. With this latest increase, the benchmark is now 109.7% higher than the equivalent period of 2021 and has risen by 18.7% since Dec-21.

XSI® - Europe Imports/Exports  

European imports on the XSI ® skyrocketed by 16.8% in Apr-22 to 340.61 points. This represents one of the largest month-on-month increases on record. The benchmark is now up by 107.3% compared to the same period last year and is up by 25.5% since the end of 2021. 

XSI - Far East Imports/Exports

Far East imports on the XSI ® edged up by just 0.4% in April to 177.21. The index is now 52.3% higher year-on-year and is up by 8.2% since the end of 2021. Meanwhile, exports jumped by 9.0% to 409.94 points, which represents the latest all-time high. Compared to the same period last year, the benchmark is 127.7% higher and has appreciated by 20.0% since Dec-21. 

Get XSI Report

Note: Xeneta's XSI® is compiled from the very latest crowd-sourced ocean freight rate data aggregated worldwide. Companies participating in the benchmarking and market analytics platform include names such as ABB, Electrolux, Continental, Unilever, Nestle, L'Oréal, Thyssenkrupp, Volvo Group and John Deere, amongst others. 

New call-to-action

Get in front of the line

Sign up and be the first to know every time we release new content.