Tag: Xeneta

Xeneta crowdsources real-time rates data from leading global shippers, allowing it to assess the very latest market moves, with the cost of shipping containers out of Europe has plummeted from the peak prices of 2021 and 2022.

The latest ocean freight rates data from Xeneta suggests an increasing “normalization” of the reefer market, with spot rates from the Far East to Northern Europe now back to pre-pandemic levels.

Mr. Peter Sand, Chief Analyst, Xeneta, says that this year brings several challenges to the carriers but opportunities to the shippers and explains how the ongoing global supply chain crisis will evolve in the coming years, according to Xeneta data.

The year ended in somewhat anti-climactic fashion for long-term ocean freight rates, with the latest data from the Xeneta Shipping Index (XSI) showing a decline of just 0.1%.

While spot rates are sailing in the right direction for ocean freight from the Far East to the South America East coast, short-term air freight rates are failing to take off on major intra-Asian and long haul trades. According to Oslo-based Xeneta, such developments will likely impact on long-term contracted rates negotiations in the very near future.

According to the latest crowd-sourced data from Xeneta, long-term rates for reefer containers on the key US West Coast to Far East route soared almost 60% in April.

International container rates finish in March with small but important increase in European import and export activity, along with increased Far East imports and a continuous development in US exports. Xeneta's  latest XSI® Public Indices report builds on the positive rates development recorded which effectively halted a decline underway since August 2018. 

While there were 20 global container lines in 2011 operating in a fragmented industry, the recent Cosco’s takeover of OOCL created a new reality in today's container shipping, where the top four carriers control 53.8% of the world’s container cargo, according to shipping analyst Xeneta.

It’s now a full year since Panama opened the upgraded Panama Canal, but the canal remains unable to handle any vessel carrying 13,500 TEU’s or more. However, this does not mean that the expansion was a waste of time and money, Xeneta notes.

In our current economy there has been less demand than supply. This slight slump has directly affected various industries and the maritime industry as well. Even though current spot market rates are at an all-time low, Xeneta shared some freight shipping tips in order to get the maximum value for every Dollar spent.