The Global XSI® index posted its biggest month-on-month increase since June 2022, rising by 4.3% in February to 154.4 points. This is only the second month in which the XSI® index - the average of all valid long term contracts - has risen over the past year and a half.
The increase in average long term rates should not surprise anyone who has followed the global container shipping market in the past few months. The Red Sea crisis provoked a large increase in spot rates in January and early February – and this is now also being translated in long term rates.
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