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XSI® Public Indices Report

Ocean freight long-term contract market

September 2023:

After a year of consistent drops in ocean freight rates, September finally saw a small boost of 0.2% according to the global XSI®. Though it's still 62.2% below last August's peak, this little uptick offers a glimmer of hope for carriers looking for signs of market recovery.

By the end of Q3, the global XSI® was down by 16.5% compared to the previous quarter. This dip will show in the industry's Q3 results, hinting that carriers, particularly those in the long-term market, will report even lower freight rates than in a challenging Q2.

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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)
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Methodology

  • Rates pulled from Xeneta’s ocean freight platform of +300m 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.