Anticipating that blanking of sailings and lay-ups will be an important tool in the capacity management toolbox of any carrier in 2023 and 2024, Hapag-Lloyd has agreed a slot charter with CMA CGM. This is special, as they belong to different alliances. Carriers often act on their own, outside alliances. This could be the first of many that would also benefit shippers as any carrier offered network would be less affected by alliance blankings.
Market Analysis
Xeneta iXRT Report | January 2023
iXRT Market News Full Report
The start of 2023 has seen a slowdown in the pace of spot market rate reductions. This is mostly related to carriers removing capacity through blanked sailings as well as canceling services. Spot market rates have also been affected by the seasonal increase in demand linked to the upcoming Chinese New Year on 22 January, though this has been tempered to some extent by a widespread Covid outbreak across China and the general amount of cargo failing to reach usual levels. Read more
Container Shipping Market Trends | January 2023
Current Freight Rate Trends
Compared to December last year, the global XSI® is up by 70%. As older long- term contracts start expiring in the new year, the XSI® will post bigger month- on-month declines. Across almost all trades, new long- term contracts have lower rates than the average for all valid rates. The only slight decline in the XSI® this month is largely due to very few new long-term contracts starting at this time of year. Read more
At the start of the year, spot and long-term rates from North Europe to the US East Coast fell by the largest amount. The rates fell by around 10%, bringing spot rates under USD 6 500 per FEU for the first time since December 2021 and long-term rates under USD 6 000 per FEU. Though these rates are still very high compared to pre-pandemic levels, these drops show the crack on the trans-Atlantic. For many months, this trade has seen very soft declines in rates compared to other major fronthaul trades. Read more
Air Freight Rate Update | January 20, 2023
An Uneven Recovery Slash Rates on Main Fronthaual Trades
From Europe to the US, the average general cargo air freight rate was USD 4.18 per kg on 15 January 2023, down by 14% from a year ago. This is attributed to the bounce-back of cargo capacity from belly hold on passenger flights. But compared to pre-pandemic market conditions, the air freight rate is highly elevated (up by 72% from the 2019 level) due to higher operating costs, including labor and jet fuel costs, while both supply and demand levels are above their pre-pandemic averages. Read more
Webinar / Events
Customer Ocean Webinar | January 24, 2023
Tomorrow: January '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
Corporate Social Responsibliity Blog | January 20, 2023
A Glimpse into Xeneta's Corporate Social Responsibilities in 2022
At Xeneta, we had a big year. The value of the transparency we provide to the historically opaque shipping industry was recognized with a new round of fundraising of $80M. In addition to our business successes – we also achieved clear corporate milestones. As our company continues to scale, so do our corporate goals and social responsibilities. Read more
In the News
Xeneta in the News | January 17, 2023
Latest Ocean and Air Market Updates
Lower demand, falling rates, increased blank sailings, capacity issues...ocean and air freight markets continue to navigate uncharted territories in 2023 as well. Xeneta analysts warn shippers to look at the bigger picture while negotiating. Even though freight prices are much lower now than last year, there is still room for improvement on many trades. With a lot of uncertainty still looming in the supply chain industry, learn what Xeneta experts have to say about the state of the ocean and air freight market. Read more
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