XSI® Public Indices Report
Ocean freight long-term contract market
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.
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)
- 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