Xeneta: Short term rates on Far East to US West Coast route decrease by 12% since July

Short term rates from the Far East to US West Coast have fallen by 12% since 1 July after recording an increase of 140% from April 30 to the beginning of the last month while long term rates grew by 20% in the same period, according to data from Xeneta. 

The Xeneta Global XSI, which covers all valid long-term contracts in the market, edged up by almost 3% in July to stand at 151.5 points. 

More notably, the underlying XSI sub-index for Far East exports, which includes the world’s biggest fronthaul trades to Europe and the US, increased by 13% in July 178.8 points.