Author: Brian Taylor
A Norway-based shipping and freight analysis company says long-term container shipping rates are declining globally, though the level of decline has leveled out in March compared with several prior months. In a recent presentation, Norway-based Xeneta says its global container shipping pricing index (XSI) continued its downward trend in March, though at a slower pace than in previous months, adding that the XSI hit its all-time high as recently as August of last year and has declined 24 percent subsequently. Xeneta says the smaller month-on-month decline in March may be more tied to there having been only a few contracts signed during the month rather than an increase in leverage for shipping lines.