PUBLISHER: Container News (www.container-news.com )
The latest Xeneta Shipping Index (XSI) Public Indices Report has shown the decline of 3.6% in long-term contracted ocean freight rates in January fails to tarnish an exceptional year for carriers.
Particularly, the intelligence platform’s analysis that was based on crowd-sourced data from global shippers has indicated the second consecutive monthly dip in rates, following a staggering 14 months of consistent increases.
However, despite the decline, contracted rates stand 98.1% up year-on-year, demonstrating the commanding position carriers continue to occupy in shipping negotiations, according to Xeneta.
“The logistics chain remains stressed with demand outstripping supply, port congestion, a lack of equipment and the ongoing pandemic impacting across key global trades,” commented Patrik Berglund, CEO of Oslo-based Xeneta.