XODD Summary:
During Q2, freight rates have generally continued to fall as market fundamentals refuse to cooperate with carriers’ hopes of pushing rates back up.
The big headline in May was the 27.5% drop in the Global XSI, Xeneta’s measure for all long-term contracts. This index fell by another 9.4% in June, to its lowest level since July 2021, posting a 51.7% decline from the start of the year. The Global XSI is now down by 51.9% from a year ago, the effects of which will be clearly visible as carriers start reporting their Q2 results.
Are you prepared for H2 and Q3?
.png){kind=logo}