Four-months high for container shipping demand in December - As comforting as that may sound, December 2022 volumes (14.3 TEU) were still down by 6.7% when compared to December 2021. CTS reports today that global demand fell by 3.9% for the full year of 2022. With main and long hauls taken the deepest cuts, the distance-adjusted drop in demand was even bigger. As the containership fleet grew by 4.0% – 2022 has teed up 2023 to be a full-blown buyer’s market as demand falls and capacity becomes ever larger.
Market Analysis
Market Observations | January 31, 2023
XSI Contract Market: January 2023
The global XSI® posted its biggest ever month-on-month drop on record in Jan 2023. It fell by 13.3% from December, down to 364.15 points, making it the fifth month in a row of falling prices on the index. With little sign of change ahead, this will be a challenging year for the carriers. January’s decline marks a significant increase in the pace of decline since December's 0.1% drop in prices. But, as Xeneta CEO Patrik Berglund explains, it wasn’t entirely unexpected. Continue Reading
Market Observations | January 30, 2023
iXRT Market News: Week of Jan. 30th
Poor market conditions continue. The start of the Chinese Year of the Rabbit has failed to provide a much-needed bounce for carriers as poor market conditions have continued, resulting in the highest number of blanked sailings for many months. Almost two-thirds of capacity on the Far East to US West Coast trade was affected as blanked sailings reached nearly 200 000 TEU this week, totaling 60.9% of the announced figure. Continue Reading
In February, many airlines are relaunching contract negotiations with freight forwarders for contracts starting around 1 April. This coincides with the start of the airlines' summer schedules, from 26 March 2023 to 28 October 2023. With the air cargo industry starting to normalize, all eyes are on this year's summer season to see how much capacity this will bring and at what rate levels. Read On
Since the start of the year, spot rates have continued to drop on the major trades out of the Far East. Spot rates from the Far East into the US are now below February 2020 level. Of the four trades from the Far East to the US East and West Coast, North Europe and the Mediterranean, the biggest fall in spot rates has come to North Europe. Rates were down by 12.2% on 6 February from the start of the year, falling to USD 1860 per FEU. Continue Reading
Webinar / Events
TPM23 and TPM Tech | February 26, 2023
Join us for a Whiskey Night With Xeneta!
Meet us at The Stave Bar for a night full of whiskey, networking and container shipping talk. No cash required, this get together is on us. Stop by, have some free drinks (over 250 brands to try) and start off TPM23 the right way. You know what they always say: with whiskey, long-term is best, but the same isn't true for ocean freight contracts. RSVP Now
Customer Ocean Webinar | February 15, 2023
February '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 review the year-end in full and feature Stanley Aizenstark to discuss the predicted insensity of the Q1 2023 Tender Season. Stanley will speak to record-breaking ILCC's and Carrier competition. Join us to learn how sustainability, digitization trends, market movements, and regulations impact the ocean and air freight industry! Register now
