In April, the Global XSI® reached 154.3 points, a 1.7% increase from March, yet underlying indices reveal diverging trends, creating a static market appearance. Year-on-year, the Global XSI® has dropped by 50.1%, indicating carriers are not pursuing higher long-term rates during contract negotiations. While the spot market remains above last year's levels for major trades, carriers have refrained from pushing for higher rates, allowing shippers to secure discounts in tender rounds.
Despite the year-on-year growth in global container volumes in January and February, it is contextualized by low demand at the start of last year. The market strategy is overshadowed by the threat of overcapacity due to record-high new ship deliveries, which are expected to decrease in Q2 but remain substantial. Carriers are focusing on securing volumes for their expanding fleets rather than pushing for higher rates, and the evolving landscape of alliances is creating anxiety about market share among carriers.
Read the full report for a look at:
.png){kind=logo}