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XSI® Public Indices Report

Ocean freight long-term contract market

January 2024:

What about the long term market?

That has been a common question put to Xeneta by customers in response to increasing spot rates during the Red Sea crisis.

The latest XSI® figures show the average of all valid long term contracts fell by 6.2% in January. At 148.0 points this is the lowest the XSI® has been since April 2021.

The XSI® is the average of all long term rates in the market, therefore the index drop in January is more likely caused by the expiry of contracts signed back in Q4 2022 at higher rates rather than shippers putting pen to paper on agreements at lower rates in the past month.

Read more about the long-term ocean freight market on Europe, Far East and the US in the full XSI® report.

Read XSI Report HERE

XSI® Public Indices Content

The monthly XSI® Public Indices report gives an indication of the global market movements in the container shipping industry focusing on the long-term market for the biggest regions in the world:

  • Global index
  • Far East indices (import/export)
  • Europe indices (import/export)
  • US Indices (import/export)
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Methodology

  • Rates pulled from Xeneta’s ocean and air freight platform of 400M+ contracted rates
  • Rates delivered from freight forwarders and shippers
  • Based on long-term contracts only - contracts valid more than 88 days
  • Indices based on an aggregation of trade-weighted corridors
  • Indices rates surcharges are based on all-in CY/CY pricing methodology
  • Global index is a combination of worldwide trade-weighted corridors not limited to US, Europe and Far East indices
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Disclaimer: Xeneta does not recommend price setting on this market report as it is based on an aggregation of trade-weighted uncorrelated corridors. If you are interested in index-based contracting, contact us to learn about XSI® index-linked contracting.