The Global XSI® saw a 1.7% decrease in May, bringing it to 151.6 points, effectively nullifying the increase observed in April and returning the index to its March level. Despite these recent declines, the index remains 30.5% above its pre-pandemic level in May 2019. After peaking in August 2022, the Global XSI® has stabilized at post-pandemic levels.
Over the past seven months, the index has fluctuated within a narrow 10-point range, from 158.5 in November 2023 to a low of 148.0 in January 2024, contrasting with the significant drop of 143.8 points observed in the previous seven-month period. However, this current stability is under threat from rising spot rates on major trade routes. Some freight forwarders and shippers report difficulties securing long-term contracts, leading them to rely on higher spot rates or new surcharges. Additionally, cargo space is being prioritized for higher-paying customers through premium services, complicating the negotiation of new long-term contracts
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