Xeneta launches public Xeneta Shipping Index for short-term market, unlocking daily rate tracking

Shippers, freight-forwarders, liner operators and everyone within the ocean container freight value chain can now access reliable real-time intelligence of fluctuating daily rates with the launch of the Xeneta Shipping Index (XSI®) for the short-term market.
 
Oslo-headquartered Xeneta has been crowd sourcing rate information from leading global shippers for the last seven years. It has now built the industry’s most trusted, neutral, rate database - containing over 280 million data points, covering 160,000 port-to-port pairs – unlocking unique insights into rate development. The new, publicly available index utilizes this wealth of data to deliver true understanding of the latest short-term pricing on the world’s key trade corridors.
 
XSI® short-term effectively fills the gap left in the market by the Shanghai Container Freight Index’s (SCFI) recent move behind a paywall; a gift to the container shipping industry. SCFI has, for many years, been the de facto source for ocean freight rates. However, Xeneta data commands the same industry authority as that of the SCFI with even broader coverage, with a 99% correlation in short-term rates, freely available to all industry stakeholders.
 
Xeneta’s anonymous shipping data represents over USD 15 billion of annual ocean freight spend. It’s analysis unlocks understanding of a dynamic market that – due to coronavirus, increased demand, and a shortage of equipment and capacity – has recently hit “overdrive”. XSI® for the short-term market will give all stakeholders up to the minute insights through an online ticker display, with daily reports diving into detail across major shipping lanes.
 
The XSI® will be updated daily with a two-day lag, giving the public insights across key lanes within the Asia – Europe, Pacific and Trans-Atlantic trade corridors. A dedicated reporting website is now available at xsi.xeneta.com while Xeneta’s main site, www.xeneta.com, will feature the new spot rates ticker. The Xeneta platform reports rates for several global corridors apart from the ones shown on the XSI. Those who wish to get rate insights for other corridors, as well as real-time access, can contact Xeneta.
 
Companies participating in Oslo-based Xeneta’s crowd-sourced ocean and air freight rate benchmarking and market analytics platform include names such as ABB, Electrolux, Continental, Unilever, Lenovo, Nestle, L’Oréal, Thyssenkrupp, Volvo Group and John Deere, amongst others.
 
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 behaviour – reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of over 280 million contracted container and air freight 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.