• 2018 December 16 12:32

    Executives must watch both sea and air amid trade war tensions, warns Xeneta

    As the ongoing trade war between the US and China continues to send tremors of uncertainty through the global economy, Xeneta is advising senior executives to keep a close eye on fluctuating ocean and air freight rates. In an unpredictable geopolitical environment, highlighted by last week’s arrest of Huawei’s CFO in Canada, the leading freight rate benchmarking and market intelligence platform says shippers need agile logistics strategies, with the option of shifting transportation mode whenever necessary, the Company says in its press release.

    Oslo headquartered Xeneta, which provides unique insight into both ocean and air freight rates by crowdsourcing the very latest rates from leading global shippers, says up to the minute intelligence of both air and ocean shipping costs allows companies to move quickly and obtain optimal value for shipments.

    “Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” comments Xeneta CEO Patrik Berglund. “At the beginning of December we had Presidents Trump and Xi hailing an apparent ceasefire at the G-20 meeting in Argentina, only for the Huawei case to quickly illustrate that hostilities are far from over.

    “The 90-day breathing space the US has given China with regards to the next round of tariff hikes may or may not last that long, and in the meantime that will lead to a rush to fulfil shipments and avoid the looming taxes. Which, in turn, has an obvious impact on shipping rates.”

    The point, Berglund says, is that rapidly changing geopolitics demand limber logistical approaches.

    “Some cargoes have to be moved by ship, due to volume and safety issues, whereas others have to be carried by air, e.g. if they perish rapidly (such as certain flowers or pharmaceuticals). However, there’s a surprising overlap with fashion, small electronics, toys and much, much more than can ship irrespective of mode.

    “What executives, particularly CFOs, must bear in mind is what mode suits their immediate business needs. Is there immediate demand that can be met, and a competitive advantage that could be gained, by utilizing airfreight? Could new tariffs or restrictions be avoided by taking the plane? Or could costs be cut and financial risks, and/or inventories, be better managed in the current climate by looking to the ocean?

    “By accessing the very latest intelligence on both modes shippers can constantly re-evaluate their options in relation to costs for transportation and costs for capital i.e. transit time / lead time. This enables fully informed supply chain decisions that support smart Working Capital Management and Inventory strategies. In other words, providing a degree of certainty in an uncertain world.”

    The latest data from the recently launched Xeneta Shipping Index (XSI™) Public Indices report (released in the final week of each month) for the month of November showed an increase in overall global ocean freight rates after three months of falls. The US export index in particular showed a strong increase, climbing by 3.1%.

    Alongside the firm’s exclusive ocean rate data, with over 85 million contracted freight rates covering around 160,000 port-to-port pairings, Xeneta is rapidly building the market’s leading air freight rates analysis service, with over 350,000 contracted rates acquired in the past few months since its launch. This allows platform users to compare markets, benchmark their own rates and save costs by entering freight negotiations with a clear overview of current pricing.

    “We have entered a period of increased complexity and volatility,” Berglund concludes, “with regard to rates as well as politics. In this climate shippers need an in-depth, multi-layered understanding of market intelligence to get the deal that’s right for them. And at the end of the day, that’s what this is about for everyone.”

    About Xeneta
    Xeneta is the leading ocean freight rate benchmarking and market intelligence platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping stakeholders the data they need to understand current and historical market behavior – reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of over 85 million contracted container rates and covers over 160,000 global trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway and regional offices in New York and Hamburg.




2019 March 23

16:03 NCL announces plans for new staff training facility
15:54 ABP Humber provides land to support KIA expansion
14:22 SeaPlanner to support marine coordination for Taiwan's Formosa I offshore wind farm
13:31 Høglund awarded fuel-gas supply systems contract for six Hurtigruten passenger ships retrofits
12:25 McDermott secures substantial offshore EPCI contract in the Middle East
11:21 MacArtney provide Active Heave Compensated MERMAC winch solution to Alcatel Submarine Networks for planned subsea offshore operations

2019 March 22

18:06 GE and Nedstack enter into a partnership to develop hydrogen fuel cell power systems for cruise vessels
17:57 Fitch affirms Deloports rating at 'BB-' with stable outlook
17:36 Samsung Heavy Industries receives a LNGC order
17:05 Maritime Union of Australia issues notice of legal rolling industrial actions at DP WORLD terminals in Australia
16:44 NATO allied nations from last year’s NATO Summit to attend Unmanned Maritime Systems Technology 2019
16:44 Maersk partners with global companies to trial biofuel
16:22 15th edition of Expomaritt Exposhipping Istanbul to be held 2-5 April 2019
16:05 Dutch Sustainable Growth Coalition partners with Maersk in world's largest maritime biofuel pilot
15:30 Hapag-Lloyd announces 2018 results
14:03 ONE unveils enhanced intra-Asia –East India service network for 2019
13:54 Royal IHC to build second TSHD for National Marine Dredging Company
13:41 IMO expands collaborative efforts to promote maritime security
13:17 REMPEITC-Caribe training workshop funded by IMO held in Guyana
12:55 Workshop promoting good practice in spill preparedness and response held in Côte d'Ivoire
12:30 Bunker prices go up at the port of Saint-Petersburg, Russia (graph)
12:03 18 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on March 21-22
11:42 Gazpromneft – Lubricants starts bunkering with marine oils in Primorsk
11:08 MSC Bellissima, MSC Cruises’ latest newbuild visits Valletta Cruise Port
10:50 Maritime Incubator to be established at the Port of Gdansk
10:49 MABUX: Bunker market this morning, Mar.22
10:29 Baltic Dry Index is down to 695 points
10:08 ZIM net loss up to $119.9 million in 2018
09:51 Brent Crude futures price is down 0.21% to $67.72, Light Sweet Crude – down 0.23% to $59.84
09:23 Manufacturing at the Port of Riga beneficial for both businesses and the Port
09:08 DEME Offshore announces Moray East wind farm Tier One suppliers
08:32 Rhenus establishes its own network in South Africa by acquiring World Net Logistics

2019 March 21

18:05 Dublin Bay Biosphere to host international UNESCO EuroMAB Conference
17:53 Detachment of RF Navy’s Northern Fleet completed transfer through the Suez Canal
17:28 McDermott awarded ethylene contract in Russia
17:05 IMO and Saudi Arabia organize course for members of three key regional maritime security agreements to promote maritime security
16:35 Topaz secures contract extension with BP for 12 vessels in Azerbaijan
16:05 Incat announces construction of a 35m Catamaran Passenger Ferry for Samso Rederi
15:52 Kalmar's Eco Reachstackers and Empty Container Handlers to help Ter Haak Group Amsterdam improve the sustainability of its operations
15:31 Severnaya Verf lays down second processing trawler of Project 170701 for Norebo Holding
15:08 German shipyard Lürssen launches project Fiji yacht named Madsummer
14:39 GoodFuels and REINPLUS FIWADO Bunker fuel first inland vessel on 100% sustainable biofuel
14:13 Incat Crowther 35m ferry for Samso Rederi
13:55 Nuclear-powered container carrier Sevmorput on her first voyage under Arctic LNG 2 project
13:24 Andrei Chibis appointed Acting Governor of Murmansk Region
13:17 Coast Guard continues to break ice on Penobscot River to start on the Kennebec River
12:40 Murmansk Region Governor announces resignation
12:00 Steel cut for first short-sea LNG bunker vessel for Eesti Gaas at Damen Yichang Shipyard, China
11:39 15 vessels escorted by icebreakers in eastern part of Gulf of Finland during 24 hours on March 20-21
11:13 Bunker prices go down at the Far East ports of Russia (graph)
10:50 Doha to host Ports & Maritime Evolution, Rail & Logistics Evolution, Road & Logistics Evolution Qatar Assembly & Expo in September’19
10:27 Brent Crude futures price is up 0.16% to $68.61, Light Sweet Crude – up 0.02% to $60.24
10:08 MAN receives an order for two-stroke engines from Eastern Pacific Shipping
10:05 MABUX: Bunker Market this morning March, 21
09:59 2018 revenues of FSUE Rosmorport grew by 7% Y-o-Y to over RUB 26 billion
09:22 Baltic Dry Index is down to 709 points
09:08 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
09:00 PSA, PFR and IFM investors partner to jointly acquire the deepwater container terminal Gdańsk from Macquarie infrastructure and Real Assets, MTAA SUPER, AustralianSuper and Statewide Super
08:36 Port Canaveral starts construction of new Cruise Terminal 3 complex
07:58 SeaKing Electrical completes DFDS ferry upgrades in France