• 2020 February 27 13:12

    Xeneta container rates alert: long-term contracted rates hold despite Coronavirus chaos

    The global XSI ™ fell 1.6% in Jan-19 to 106.58 points, continuing the downward trend recorded since Aug-18. During this six-month period, the index has lost 5.3% of its value, having shed 5.92 points and now stands at a similar level to that recorded in May-17, Xeneta said in its release.

    Year-on-year the global benchmark is 2.1% lower than Jan-18. However, if the index reports similar changes to those witnessed during the first few months of 2018, then we may only see minimal changes in the next few months.

    XSI ™ - Europe Imports / Exports
    In Jan-19 European imports on the XSI ™ fell 1.3% month-on-month to 108.01. However, compared to the same period a year earlier, it remains 3.0% higher.
    The decline on the imports benchmark occurred despite a noticeable increase in the spot market following planned FAK increases, suggesting the latest increase has had little impact to contracted rates.
    Meanwhile, exports on the benchmark declined 2.3% to 107.73 points and the index now stands at its lowest level since Jun-17, having failed to maintain any positive momentum. As a result, the index is also now 1.9% lower year-on-year.
    Looking ahead, with new IMO regulations on the horizon, the market should expect a higher level of demolition activity in coming months, as less fuel-efficient vessels are removed from the market. Shippers should therefore be wary of how this could impact supply and thereby affect both short and long-term rates in the near future.

    XSI ™ - Far East Imports / Exports
    The Far East Imports XSI ™ jumped 2.3% in Jan-19 to 115.98 temporarily reversing a downward trend seen since Sep-18. However, despite the increase the index remains 11.7% lower than the same period of 2018. Month-on-month declines have been a consistent trend on the XSI ™, with falls being recorded in 16 of the last 24 months.
    The Far East Exports index declined 0.3% in Jan-19 to 115.85 points. Despite the fall, it remains 1.0% higher than Jan-18, although is 5.6% lower than the high of 122.78 points recorded in Jul-18.
    The main Far East-North Europe trade could face additional pressures after it was announced the Ocean Alliance would revamp its Asia-North Europe route, adding a seventh loop in the process. The alliance seems to have had its hand forced due to COSCOs delivery of around a dozen ULCVs due to come online in the first six months of the year.

    XSI ™ - US Imports / Exports
    The XSI ™ for US imports declined 1.7% in Jan-19 to 98.86 points and is now 1.0% lower than the equivalent period of 2018.
    Meanwhile, the US exports XSI ™ fell 1.0% month-on-month in Jan-19 to 86.64 points. The benchmark has remained on a downward trajectory since its inception and is 8.0% lower than the level of 94.20 recorded in Jan-18.
    The continued uncertainty over the next phase of the tit-for-tat trade war hangs as a black cloud over the US market and shippers could face a 25% tariff on the import of over 5,700 Chinese goods come March. There are rumors the Trump administration may implement a new trade deal before the expiry of the 90-day grace period, but savvy importers will no doubt be planning for the worst case scenario.
    Coincidentally the proposed tariffs are due to start at the same time as the annual TPM conference in Long Beach, where annual negotiations begin in earnest. The outcome of the latest tariffs could therefore play a pivotal role in contracted rates on the Far East-US trade.
    The monthly XSI™ Public Indices report is meant to give an indication of the global market movements for long-term contracts in the container shipping industry focusing on the biggest regions in the world.

    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.




2020 March 30

18:30 Ecochlor announces collaboration with Horizon Air Freight to expand shipping services
18:15 Inmarsat takes founding role in first Decarbonising Shipping programme for Asian start-ups
18:05 Start of cruise season in Kiel to be postponed until end of April
17:57 Globaltrans’ profit for 2019 climbed 16% YoY to RUB 22.7 billion
17:03 CMA CGM announces PSS from Romania to the Mediterranean
16:35 OOCL announces Transpacific product update
16:20 About 40 small- and mid-size ships to be built for Russia’s Far East by 2025
16:03 ClassNK releases Guidelines for Non-destructive Inspection by Phased Array Ultrasonic Testing
15:45 Gasum to supply Preem with renewable maritime fuel
15:24 Two ferries operate between seaports of Kaliningrad and Ust-Luga
15:03 NuStar extends Svitzer contract in Point Tupper, Canada, by five years
14:58 5G innovation put to a practical use in the Port of Zeebrugge
14:46 Global Ports terminals add new transit intermodal service from Europe to Asia via Russia
14:28 BPO and BTJ prepared overview of measures introduced in ports and shipping lines within Baltic Sea region
14:02 Port Houston posts cargo volume results for Feb 2020
13:51 Average wholesale prices for М-100 HFO fell to RUB 8,177 in RF spot market
13:20 Wärtsilä signs agreement with Kuribayashi Steamship in Japan for deployment of innovative gate rudder technology
13:10 Maersk’s first intercontinental train from Europe to Asia dispatched from St. Petersburg
13:03 Tianjin Port Development announces 2019 unaudited annual results
12:29 United Shipbuilding Corporation establishes center for prevention of Covid-19 spread
12:02 Ports of Bremen fully functioning
11:37 Abu Dhabi, UAE to host ADIPEC 2020 on November 9-12
11:12 MABUX Digest: Top events on global bunker market. Week 13
11:02 First-stage land usage permit issued to APM Terminals Poti
10:50 KN moves its LNG Terminal from its normal location due to cleaning work
10:28 Port of Riga reports no significant changes in cargo handling
10:21 Panama Canal backs efforts to expedite return home of the passengers and crew on Holland America’s Zaandam
10:04 NCSP Group published its consolidated financial results for 12 months 2019
09:41 MABUX: Bunker market this morning, Mar 30
09:26 RF Government limits crossing of state border checkpoints
09:09 Baltic Dry Index is down to 556 points

2020 March 29

16:29 Coast Guard and a salvage towing company rescued three people near Key Largo
14:35 AAM to complete construction of the first hydrogen fuel cell vessel in the U.S.
13:17 Fischer Panda UK introduces standardised FP Control across new models
12:03 USCG responds to grounded container vessel in Mississippi River
11:52 Stena Bulk performs a test running an MR tanker on 100% biofuel

2020 March 28

15:13 Belov Engenharia Ltda to operate Robert Allan designed DSV for Petrobras
13:42 Valaris received a termination notice for the drilling contract for VALARIS DS-8
12:47 SCHOTTEL wins propulsion contract to equip U.S. Navy vessels
11:31 VT Halter Marine to execrise an option for forth APL(S)
10:53 USCG Cutter Polar Star returns home from Operation Deep Freeze 2020

2020 March 27

18:37 Kim Heng Marine & Oilfield incorporates JV Bridgewater Marine (Taiwan)
18:14 Port of Antwerp Covid-19 Taskforce: supply chains still working
17:52 Oboronlogistics delivers materials and equipment for construction of medical center in Kaliningrad Region
17:29 Exercise involving three frigates of RF Navy’s Black Sea Fleet took place in Mediterranean Sea
17:05 Philippine Ports Authority imposes entry protocol in offices, ports in fight against COVID-19
16:43 Admiralteiskie Verfi launches lead freezing trawler of Project СТ-192 built for Russian Fishery Company
16:21 Arthur Sedov appointed as Managing Director of Rosterminalugol
16:05 Cosco Shipping Ports announces full year results for 2019
15:58 Gazpromneft Ocean marine oils are available in South Korea
15:44 The world's most powerful semi-submersible crane vessel receives the largest LNG bunkering in the Port of Rotterdam
15:27 Navigation on middle Volga and Volga-Baltic Canal to be opened ahead of schedule
15:04 Maritime and Port Authority of Singapore to provide economic relief to passenger vessel owners and operators
14:40 Severnaya Verf lays down fifth processing trawler of Project 170701 ordered by NOREBO Group
14:16 VPower Group is new distributor for Rolls-Royce’s MTU solutions in China
13:55 Russia’s foreign trade cargo to be completely redirected to domestic ports by 2022-2023 - Rosmorrechflot
13:06 Russian bunkering market meets demand for low-sulphur fuel – RF Transport Ministry
12:28 Port of Gdansk is fully operational
11:33 Rosmorport's Arkhangelsk Branch takes measures to prevent COVID-2019 spread
11:09 Diana Shipping announces time charter contract for m/v P. S. Palios with C Transport