XSI® Public Indices Report
Ocean freight long-term contract market
October 2024:
The Global XSI® index dropped 5.6% in October to 157.0 points, marking the largest month-on-month decrease since January. This decline leaves the XSI® 5.0% lower than in October 2023. The decrease benefits shippers entering tender season, despite Xeneta’s global spot rates remaining 85.1% higher than last year. Spot rates, though elevated year-over-year, have dropped sharply since July, reaching their lowest point since April. The last similar month-on-month decline in spot rates was in November 2022, influencing the current turn in the long-term market. A significant gap remains between long- and short-term rates across major global trade lanes.
Read more about the long-term ocean freight market on Europe, Far East and the US in the full XSI® report.
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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)
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.