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XSI® Public Indices Report

Ocean freight long-term contract market

September 2024:

All long term rates are rising while spot rates continue to soften on most major trades.

The narrowing market spread between long and short term rates will continue to be a key theme heading towards 2025 as shippers enter new contract negotiations.

Exception to the softening spot market is found on Transatlantic trades from Europe to US East Coast and US West Coast which have increased 66% and 52% respectively since the end of August.

September could be seen as a month of transition as the peak season volumes seen earlier in the year begin to wind down. Despite the US port strikes throwing additional uncertainty into the mix, now they are over (at least until January) the picture may become a little clearer in terms of the long-short market spread.

Read more about the long-term ocean freight market on Europe, Far East and the US in the full XSI® report.

Read XSI Report HERE

XSI® Public Indices Content

The monthly XSI® Public Indices report gives an indication of the global market movements in the container shipping industry focusing on the long-term market for the biggest regions in the world:

  • Global index
  • Far East indices (import/export)
  • Europe indices (import/export)
  • US Indices (import/export)
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Methodology

  • Rates pulled from Xeneta’s ocean and air freight platform of 400M+ contracted rates
  • Rates delivered from freight forwarders and shippers
  • Based on long-term contracts only - contracts valid more than 88 days
  • Indices based on an aggregation of trade-weighted corridors
  • Indices rates surcharges are based on all-in CY/CY pricing methodology
  • Global index is a combination of worldwide trade-weighted corridors not limited to US, Europe and Far East indices
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Disclaimer: Xeneta does not recommend price setting on this market report as it is based on an aggregation of trade-weighted uncorrelated corridors. If you are interested in index-based contracting, contact us to learn about XSI® index-linked contracting.