Xeneta: Negative trend in freight rates reversed
An increase in US export activity and European imports has reversed the downward trend in rates for the container shipping industry, a XSI Public Indices report from Xeneta has shown.
The freight rate benchmarking and market intelligence platform has revealed that its index, which utilises a database of over 85m contracted freight rates, has indicated a month-on-month rise in long-term rates of 2.5%.
This small increase has halted a decline that has been on-going since August 2018 and Xeneta CEO Patrik Berglund noted that this provides “somewhat positive news” for the container industry.
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