• 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 June 18

12:41 Russia's Main Department of State Expertise approves revised project for Phase 1 of dry bulk terminal in Taman
12:28 Bunker prices show slight changes at the Far East ports of Russia (graph)
12:24 Jan De Nul secures Formosa 2 OWF contract in Taiwan and underlines its expansion in Asian OWFs
12:05 AtoB@C starts to offer port towage and related services in Port of Raahe
11:39 East-Siberian Inland Navigation Company launches bunkering tanker of Project RT37 for Baikal
11:16 Regional Manager Simon Neo set to leave IBIA
10:52 IBIA board member elected President of the Panama Maritime Chamber
10:47 NAVTOR integrates environmental regulations into voyage planning with Total Marine Solutions MOU
10:27 Maritime spatial planning in the Baltic Sea region easier with BASEMAPS
09:53 Brent Crude futures price is down 0.05% to $60.91, Light Sweet Crude – down 0.1% to $51.88
09:35 MABUX: Bunker Market this morning June, 18
09:15 Baltic Dry Index is up to 1,093 points

2019 June 17

18:24 USCG saves six people, tows disabled vessel in Port Etches
17:59 Denis Krylov appointed General Director of Gazpromneft-Sakhalin
17:28 China and South Korea agree on ballast water exchange rules
17:04 Mermaid Maritime borrows a loan of USD 65 mln to extend the financing of two vessels
16:41 Neptune Lines welcomes Neptune Galene & Neptune Thalassa after scrubber installation
16:23 DG Termināls invests about 1 million euros during the year
16:17 Finnish ferry getting a diesel-electrical drivetrain system
16:04 MSC Katya R. sets record as largest container ship to boost Costa Rican export links to Europe
15:45 Singapore to host 18th Vessel Efficiency & Fuel Management Summit
15:26 Onezhsky Shipyard launches multifunctional buoy tender for Volga-Baltic Basin
15:04 Hunter Group sells one vessel
14:42 Gdansk, Poland to host 6th Operating Specialist Wind Vessels Summit
14:19 Seatrade Europe conference programme to include Marine Interiors specialist panel discussions
14:12 ClassNK releases amendments to class rules
13:55 Finland hosts an EU–China maritime meeting
13:31 AWT completed stage III of modernization and expansion of the Paskov Terminal
13:24 Average wholesale prices for М-100 HFO down to RUB 16,007 in RF spot market
13:10 The Irish Port of Cork and Port of Amsterdam to collaborate
12:48 Pella Shipyard launches tugboat of project 90600, Sadko, built for Sevmash-Shelf (video)
12:31 Port of Oakland exports up 8.4 percent in May 2019
12:01 North Carolina Ports adopts Vortex port equipment simulator
11:30 MEYER WERFT announces the keel laying for the new cruise ship IONA
11:15 Throughput of port Shanghai (China) in Jan-May’19 declined by 1.3% to 225.91 million tonnes
11:00 Panama Canal issues proposal to modify tolls structure
10:59 Bunker sales at the port of Singapore in Jan-May’2019 fell by 7.7% Y-o-Y to 19.79 million tonnes
10:37 Fincantieri's Muggiano shipyard launches PPA “Paolo Thaon di Revel”
10:21 CMA CGM announces FAK rates from Asia to the Mediterranean
10:01 Brent Crude futures price is up 0.26% to $62.17, Light Sweet Crude – up 0.19% to $52.87
09:38 Port of Singapore throughput in Jan-May’2019 was nearly flat YoY at 261.39 million tonnes
09:19 Diana Shipping commences self tender offer to purchase up to 2,000,000 shares
09:16 MABUX: Bunker market this morning, June 17
09:10 Baltic Dry Index is up to 1,085 points

2019 June 16

17:13 DC area agencies to conduct mass rescue exercise off National Harbor
16:05 Boskalis appointed as salvor for both damaged tankers in the Gulf of Oman
15:53 Fincantieri and Naval Group sign a joint venture agreement
13:47 Diana Shipping Inc. announces the sale of a Panamax dry bulk vessel, the MV Thetis
12:47 WSC unveils its hybrid patrol vessel at Seawork 2019
11:41 GasLog Partners LP announces new multi-year charter agreement with Gunvor

2019 June 15

15:44 Wight Shipyard rolls out its new windfarm support vessel concept at Seawork Int'l 2019
13:17 Malta Freeport hosts its first LNG-powered container ship
12:53 Petrobras closes the sale of TAG
11:41 USCG, local partners respond to sailing vessel aground off Magic Island
08:43 Vessel training simulation underway at Tema Port’s new Terminal 3

2019 June 14

18:05 Ole Martin Grimsrud appointed CFO of Aker Solutions
17:44 USCG Cordova FOL crew saves man stranded for three days on Montague Island
17:05 Knud E. Hansen wins two separate contracts for innovative large RoRo vessels
16:41 Hapag-Lloyd to increase rates from North East Asia to Australia
16:26 Murmansk Sea Fishing Port handled 90,300 tonnes of cargo in Jan-May’2019, down 38.7% Y-o-Y