Tag: Rates
Xeneta: A turning point for the ocean freight industry? Data reveals first rise in long-term ocean freight rates in a year
After a full year of seemingly freefalling ocean freight rates, the latest market data from Oslo’s Xeneta suggests the industry may finally have reached a turning point. According to the Xeneta Shipping Index (XSI®), which tracks real-time rates developments on a month-to-month basis, September saw an increase of 0.2% in valid, global long-term contracted rates.…
Continued downward pressure with a significant decline in VLCC demand growth rates
The second week of September maintains its grip on the crude oil freight market’s sentiments, as VLCC rates have yet to display the anticipated rebound. The struggle persists in the VLCC MEG-China rates, leaving industry observers closely monitoring the demand dynamics of the Chinese economy as we approach the end of September. Illustrated in the…
Higher freight rates despite the increase in the volume of ballast ships as demand gradually rises
As September began, freight rates continued to remain firm, as recorded at the end of the summer season. However, the Capesize segment remained under downward pressure. On the other hand, the Panamax and Handysize vessel freight rates showed an upturn. Despite this recent firmness, there are still uncertainties regarding the stability of the market, given…
Xeneta: Long-term ocean freight rates plunge by more than 60% in year of decline, but changing fortunes appear imminent
Long-term ocean freight rates slid once again in August, marking the 12th consecutive month of declines for beleaguered carriers. According to the latest real-time data from the Xeneta Shipping Index (XSI®), contracted rates fell 7.8% in August, meaning prices have now dropped 62.7% since this time last year. The world’s busiest routes – exports from…
Spot market meltdown, as Transatlantic container shipping spot rates hit all-time low. A time to act for the shippers
Shippers on the trade are taking full advantage of this new reality, regaining the upper hand after the 2021-2022 pandemic period delivered dramatically high freight rates. Xeneta’s real-time data, crowd-sourced from leading global shippers shows the strongest are now paying less than USD 475 per FEU for spot business, which Sands point out is an…
Xeneta container rates alert: Amid Record-Low Trans-Atlantic Trade Rates, Shippers Must Seize Opportunities Before Market Rebounds
Spot rates on the Trans-Atlantic fronthaul trade from North Europe to the US East Coast (USEC) are plummeting rapidly. According to Xeneta’s platform data, the monthly average rate for a 40-foot standard container (FEU) has dropped dramatically, falling from USD 5,298 (excluding Terminal Handling Charges) in January to a mere USD 809 in August. This…
Container Rates Alert: Spot rates rally on key Far East trade lanes after latest GRI moves
Spot rates for containerized ocean freight have climbed across three leading Far East export corridors after the latest round of General Rate Increases (GRIs) from carriers. The news, revealed by Oslo’s Xeneta, provides welcome relief for a segment that has been “up against the ropes” for much of 2023, fighting against declining demand and volumes,…
Long-term ocean freight rates hit two-year low just as record new levels of ships enter the market and overcapacity adds further pressure
Global long-term shipping rates sank to a two-year low in July, with the latest data from Xeneta’s Shipping Index (XSI®) showing a fall of 9.5% since June, adding to a deep collapse that started last year. Long-term valid contract rates have now lost 57.8% of their value since the same period in 2022. Xeneta’s real-time…
July’s Spikes In The Number Of Ballasters With Rates Dropping Throughout The Month
The last days of July are still quiet, with a weaker sentiment of freight rates in all size classes, while all eyes are on the Black Sea grain market after Russia decided not to extend the agreement that allows the safe shipment of Ukrainian grain through the Black Sea ports. The third quarter of this…
