Transatlantic spot rates fall to lowest level in 2 years - Spot rates from North Europe to the US East Coast have fallen below USD 4 000 per FEU, rates not seen since May 2021. This is despite rates on this trade not falling at the same pace as the other major trades. Spot rates on the westbound transatlantic trade are still up by 95% from March 2020. Long term rates are even higher, up 171% from March 2020 and USD 1 500 per FEU higher than today's spot market.
Market Analysis
iXRT Market News | March 20, 2023
Market News: March 20, 2023
Carriers are facing more bad news as spot rates show no sign of reaching their lowest point yet. The average spot rate is decreasing on the world’s major trade routes, but the decline seen in the mid-low rates is a bigger concern for the carriers. In the last month, mid-low spot rates from the Far East to Europe and the US have dropped by between 7% and 11%, while rates to the South American East Coast have fallen by more than 20%. Continue Reading
XSI Report | March 2023
Xeneta Shipping Index Contract Market Report
The small month-on-month decline largely reflects only a few new contracts entering validity in March. The major tendering season in Europe has passed.
In the US, far more new contracts will start in April and particularly May, replacing last year's older and much more expensive contracts and undoubtedly bringing the XSI® down. Compared to a year ago, the global XSI® is still up by 30.5%, but the situation has changed significantly for carriers and shippers. Continue Reading
Container Shipping Trends Summary | March 2023
Good News for Carriers Not Easy to Find
The global XSI ® fell in February to 354.2 points.
The Global XSI® has now fallen for six consecutive months. It’s now down by 22% from its peak in August 2022.
Compared to February 2022 the global XSI® is up by 43.0%, and compared to the pre-pandemic month of January 2020 it is up by 207.7%.
The much smaller drop in February, when compared to the record of January, comes on the back of higher long-term rates on export trades from North America. Continue Reading
Weekly Container Freight Update | Week 13, 2023
Southeast Asia to China trade becomes Cheapest ad Intra-Asia Long-Term Rates Spread Widens
The long-term contract average rate from Southeast Asia into the Far East has declined. Since the start of the year, long-term contract (signed in the past 3 months) average rates have fallen by 12.8% to USD 850 FEU (March 21). This is the first time since October 2021 where rates have fallen below USD 900. They peaked at USD 1 550 in August 2022. Continue Reading
Webinar / Events
Customer Ocean Webinar Replay | March 29, 2023
March '23 Freight Market Pulse Recording
In this month’s Customer Webinar, CEO and Co-Founder, Patrik Berglund and Vice President of Customer Solutions, Michael Braun provided updates on critical market movements and spoke with Kingfisher's procurement strategy, seeing how they have approached their carrier relationship differently than most, yet still maximized value from carriers, with the use of Xeneta data. Watch the Recording
Associated British Foods Uses Xeneta to Negotiate a 30% Decrease in Ocean Rates
ABF has seen immediate improvement in their market position across subsidiary companies since utilizing Xeneta. Xeneta data and analytics give business teams a better understanding of their market position and improved market visibility. ABF can now generate executive reports to access information and analyze all components of their procurement in one platform across different businesses. Read the full story
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