Xeneta launches public Xeneta Shipping Index (XSI®) 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.
Retailers set to raise prices as shipping, commodity costs soar
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Consumers have been warned to brace for higher prices on products ranging from imported food to clothing, footwear, furniture, hardware and toys as a surge in shipping costs adds to pressure on commodity prices.
Retailers said shipping costs had tripled in 12 to 15 months while prices for commodities and materials ranging from palm oil and PVC to timber, steel and aluminium had soared due to strong global demand, container shortages and logjams in ports.
Spot shipping rates for some retailers have tripled during the pandemic, pushing up the cost of goods.
Asia – Europe container freight rates fall economy concerns seatrade-maritime.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seatrade-maritime.com Daily Mail and Mail on Sunday newspapers.
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Rice inventories are at risk of expanding if exports are pressured by high ocean freight rates. Heng Chivoan
Cambodia’s export-import challenged by staggering ocean freight rates
Thu, 28 January 2021
Global surge in container shipping rates are pressing shippers who have had to absorb 25 to 30 per cent of costs at a time when every penny matters
‘Crazy world,” Song Saran, president of Cambodia Rice Federation (CRF), exclaimed in the company of industry players on the sharp uptick of ocean freight rates.
The rates, which have been rising since the second half of 2020, are now five to 10 times more than a year ago, resulting in a 30 to 35 per cent additional cost on import-export trade in Cambodia.
The people and companies who focus on sorting out today's mess, and helping us to return to a simpler, more robust system, are going to make an awful lot of money.