The amount of demolition done in 2023 is now equal to the combined 2021-2022 scrapping of ships. Service speed is getting rapidly reduces all over, which negatively affect schedule reliability, lay-ups increase by the day and poorly performing services are discontinued as new ones are set up – with strings of the ‘homing containership’. Those that went to the Trans-Pacific trade to service US retail demand at its peak, are getting redeployed.
Market Analysis
Market Observations | February 28, 2023
XSI Contract Market: February 2023
The global XSI® continued its downward trend in February at a slower pace after its biggest-ever month-on-month drop recorded in January. According to the latest data from the Xeneta Shipping Index (XSI®), average long-term contracted rates dropped by 1% across the month, down to 354.2 points. This is now the sixth consecutive month of falls, with the index losing 22% of its value since August 2022. As TPM is in full swing this week, many eyes are looking to see the outcome of several contract negotiations happening onsite. Continue Reading
Market Observations | March 3, 2023
iXRT Market News: Week of Feb. 28th
All eyes are on Long Beach this week for TPM, taking place in a much changed market from this time last year. Shippers moving goods from the Far East to Long Beach then were paying an average of USD 9 800 per FEU on the spot market, excluding premium surcharges, with those on the higher end touching USD 16 400. At the opening of this year’s TPM the average spot rate has fallen to under USD 1 500 per FEU. Even those shippers contracting at the highest spot rates are looking at rates of under USD 3 500 per FEU. Continue Reading
Xeneta at TPM23 | March 2, 2023
We came, we saw, we brought jellybeans
In late February, the Xeneta team headed west to attend TPMTech and TPM23 in Long Beach, California. With booths and speaking slots at both events, we were able to share & validate the power of our data, and get a real-time in-person perspective on what matters most to supply chain professionals right now. Thorsten Diephaus, our VP of Strategic Alliances, joined Dylan Alperin, Head of Professional Services at Keelvar, Jonas Krumland, CEO at Logward, and Eric Johnson, Senior Editor-Technology, Journal of Commerce at S&P Global, to discuss what defines a must-have in today’s modern supply chain tech stack and how more visibility can help quell volatility. Continue Reading
Xeneta Air Freight Update | February 24, 2023
Global Air Freight Rate Spreads Remain Widened as the Air Cargo Market Normalizes
Though global air cargo volumes have fallen eleven consecutive months year on year, airline cargo revenues haven’t fully retreated. In the week ending 19 February, global cargo revenues remain 40% above the 2019 average. It was down 28% from the same week a year ago and a considerable 43% from its peak in the week ending on 12 December 2021. Read the Full Update
Webinar / Events
Customer Ocean Webinar | March 29, 2023
March '23 Freight Market Pulse
In this month’s Customer Webinar, CEO and Co-Founder, Patrik Berglund and Vice President of Customer Solutions, Michael Braun will will be joined by a special guest, customer, Samuel Mensah of Kingfisher. The Xeneta hosts will give updates on critical market movements and speak with Sam on how Kingfisher has approached their carrier relationship differently than most, yet still maximized value from carriers, with the use of Xeneta data. Register now
