Charter rates were in freefall last month, leading many carriers to limit potential damage by holding off on new bookings as demand evaporates. How can shippers leverage this transition of power in negotiations?

 

Watch our monthly state of the market webinar for ocean freight, where Xeneta experts closely reviewed container rate movements on the main trade corridors.  

 

The global XSI® index saw its first month-on-month fall since January 2022 as it slid to 448.3 in September, falling by 1.1%. This is the first drop since January and one of only three declines in the past 21 months.

 

However, Xeneta experts expect “it won’t be the last,” with market fundamentals suggesting that the “halcyon days” of ever-increasing rates for carriers may draw to a close.

With the continuous fluctuation in the spot market recently, regular renegotiations can be cost and time deficient. This is where ‘Index Linked Container Contracts (ILCCs) is advantageous to shippers. Learn what Xeneta customers plan to include ILCCs in their procurement strategy. Read more

 

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