Xeneta
Xeneta News
Red Sea Conflict Brings Massive Carbon Emissions Increases
Conflict in the Red Sea has brought massive carbon emissions increases in ocean freight container shipping, according to data just released by Xeneta.The Xeneta and Marine Benchmark Carbon Emissions Index (CEI), which measures carbon emissions per ton of cargo transported across the worldâs top 13 trades, hit 107.4 points in Q1 2024 - the highest it has been since the index began in Q1 2018.For containers being shipped via ocean from the Far East to MediterraneanâŠ
Xeneta: Baltimore Bridge Collapse has not Triggered Increase in Shipping Rates
The collapse of the Francis Scott Key Bridge in Baltimore has caused supply chain disruption on the US East Coast but, so far, it has not seen an increase in ocean freight container shipping rates.Data released Monday by Xeneta reveals average spot rates from the Far East into the US North East Coast (including Baltimore) have fallen slightly (-1%) since the bridge collapse on March 26 to stand at USD 5âŠ
Baltimore Bridge Collapse Could Disrupt Supply Chain -Xeneta
The containership allision that caused the collapse of the Francis Scott Key Bridge in Baltimore could cause "significant disruption" to shipping supply chains, according to industry analyst Xeneta.The 10,000 TEU Singapore-flagged Dali was operating on a 2M alliance service between Baltimore and the Far East when it struck the bridge around 1:35 a.m. on Tuesday, sending cars and people plunging into the river below."The immediate focus is the rescue operationâŠ
Mexico Could be Back Door for Chinese Imports into US
Growth in demand for container shipping imports from China into Mexico in January 2024 increased by 60% compared to 12 months ago, further fuelling suspicions it has become a back door into the US.According to analysts at Xeneta, 117,000 TEU was shipped in January of this year compared to 73,000 TEU in January 2023 (source: Container Trades Statistics).Annual growth in container shipping between China and Mexico had already increased by 34.8% in 2023 compared to just 3.5% in 2022.Peter SandâŠ
Xeneta Appoints Chief Product Officer
Fabio Brocca after being appointed Chief Product Officer at ocean and air freight rate benchmarking platform, Xeneta.Brocca was previously Head of Product for Global Transportation Technology at Amazon.âAmazon showed me the importance of working backwards from the customer and how a best-in-class tech company is run.âWhen you are transforming an industry, you must think long term. What we think is needed today may not be whatâs needed tomorrowâŠ
Red Sea: Far East-US Spiraling Ocean Freight Rates Set for Decline
Spiraling ocean freight rates from the Far East to the United States, caused by the Red Sea crisis, may have peaked, with some relief on the horizon emerging for the shippers, according to the latest analysis from Xeneta, and ocean and air freight rate benchmarking and market analytics platform.The latest data released by Xeneta indicates a peak may have been reached after spot rates from the Far EastâŠ
Xeneta Appoints Luykx as Chief Revenue Officer
Ocean and air freight rate benchmarking and intelligence platform Xeneta has appointed Tonia Luykx to spearhead its journey to drive revenues through an industry data revolution.Luykx, who has a track record for building and scaling SaaS and tech businesses including Sift, Google, Dropbox and Amazon, has now set her sights on global logistics in the position of Chief Revenue Officer at Oslo-based Xeneta.She saidâŠ
Markets Spike Following Houthi Attacks on Shipping
Continued missile attacks on merchant ships in the Red Sea have plunged supply chains into chaos, and consumers around the world will have to pay the price, according to Xeneta.Latest data from the industry analyst shows spot rates in the ocean freight shipping market spiked by 20% since Friday after major shipping liner companies such as Hapag Lloyd, MSC and Maersk announced they are avoiding the Red Sea amid the attacks by Houthi militia.Xeneta chief analyst Peter Sand saidâŠ
Xeneta Data Points to "Brutal" 2024 for Ocean Freight Carriers
Latest data from Xeneta suggests 2024 could be even more brutal than expected for carriers in the ocean freight shipping market, as the Xeneta Shipping Index (XSI), which tracks real-time developments in global long-term contracted rates, today stands at 158.5 points, which is 62.3% lower than November 2022.âThe XSI is an average of all long term contracts on the market â so in essence the global indexâŠ
Ocean Freight Shipping: Rough Seas Ahead, But Growth Still on the Horizon
The Xeneta Summit has heard the ocean freight shipping industry will find new ways of working together in the face of a volatile market.Stanley Smulders, Director of Marketing & Commercial at Ocean Network Express (ONE), took part in a keynote Q&A with Xeneta CEO Patrik Berglund during the Summit in Amsterdam this week to discuss the major challenges facing the industry.While there are rough seas aheadâŠ
Container Shippers in Store for Stormy 2024 - Xeneta
Supply chains around the world could be at serious risk amid expected increases in the cost of ocean freight shipping during 2024.Oslo-based Xeneta has carried out in-depth analysis of the latest ocean freight rates and branded the current market as unsustainable.Xeneta CEO Patrik Berglund said: âThe cost of moving goods by sea has plummeted during 2023 by almost 60% for long term contracts on a global level and some corridorsâŠ
Long-Term Container Rates Fall (again)
The beleaguered carrier industry took another major hit in June, with the latest data from Xenetaâs Shipping Index (XSI) showing a decline of 9.4% in global long-term shipping rates. Following on the heels of a 27.5% collapse in May, and a 10.3% fall in April, contracted rates have now shed 47.2% of their value in the last three months alone, and 51.7% over the course of 2023.Xenetaâs data shows falls in the prices of valid long-term contracts across all key trading corridorsâŠ
Container Shipping Rate Collapse Continues
The ocean freight industry saw a slump in global long-term rates of unprecedented proportions in May, as the contracted cost of shipping containers fell by 27.5%. The development, detailed by Xenetaâs Shipping Index (XSI), marks the ninth consecutive month of rates drops, and is the largest ever monthly fall recorded on the XSI.âIf industry observers were left wondering just how bad it could get for carriers after the 10% fall in long-term rates seen in AprilâŠ
âFriendshoringâ Impacts Container Shipping Trade Patterns
As geopolitical upheaval continues, Peter Sand, Chief Analyst, Xeneta, explores how global trade patterns have (and will) evolve.Geopolitical unrest could have dramatic and long-term impacts on global trade patterns for all goods and commodities, as political alliances are essentially being ripped up and rewritten. Spurred by Russiaâs invasion of Ukraine in 2022, changing trade patterns are emerging in the container shipping sectorâŠ
Emissions Winners, Losers on Far East to U.S. West Coast Trade
Xeneta returns this week with a second ranking of carrier carbon emissions, this time focused on the Far East to U.S. West Coast Trade."Why are we doing this? We want to shine a light on the importance of green shipping and spotlight the progress of carriers,â said Peter Sand, chief analyst, touting the results as "Name & Fame." Results are based on the Xeneta and Marine Benchmark Carbon Emissions Index (CEI).Name & Shame: Xeneta CEI Tool Highlights BestâŠ
Name & Shame: Xeneta CEI Tool Highlights Best, Worst Enviro Performers
Xeneta has taken the first step in a campaign to identify the carrier industryâs best and worst environmental performers across the worldâs 13 leading shipping trades. With the help of the Carbon Emissions Index (CEI), a tool from Xeneta and Marine Benchmark, carriers have been assessed on the main Far East to South America East Coast container corridor. With first results out, Hamburg Süd is likely celebratingâŠ
Container Carriers Brace for a 'Stormy 2023' says Xeneta
January proved to be a dramatic month for long-term ocean freight rates, with the latest data from the Xeneta Shipping Index (XSI) showing the largest ever month-on-month declines. According to the XSI, average long-term contracted rates dropped by 13.3% in January, the fifth month in a row of falling prices on the index. Xeneta warns there is little sign of change ahead in what looks set to be a challenging year for carriers.âGlobal demand has fallen awayâŠ
Container Shipping Turmoil Spills Over Into 2023, says Xeneta's Sand
As container shipping demand continues to fall into the New Year, Xeneta Chief Analyst Peter Sand weigh in with his insights on the pace and direction of spot and contract rates; the likelihood of ship lay-ups and scrapping in 2023; plus the impact that West Coast port labor strife will have on the industry as a whole, as the East Coast U.S. emerges as the dominant player.To start us off, what do youâŠ
Ocean Freight Spot Rates Out of Far East Plummet - Xeneta
The ocean freight rate landscape in the Far East has been completely redrawn since the start of the year, with spot rates plummeting by an average of 75% across the six major trading lanes, Xeneta said in its latest report.By comparison, long-term rates are proving more resilient, with a fall of âjustâ 13%, the ocean and air freight rate benchmarking and market analytics platform said Friday. Role reversalThe latest analysis from Oslo-based Xeneta highlights a market in flux.
Backhaul Spot Rates Sink Below January 2020 Levels
The collapse in spot rates on fronthaul trades has caught the headlines, but shippers on certain backhaul trades have seen equally large drops, with some trades having seen spot rates fall for much longer than on the fronthaul and have fallen below rates in January 2020, Xeneta shows in its latest weekly container freight rate update.From North Europe to the Far East, the average rate for a standard FEU has fallen to $820 per FEU.
