Xeneta container contract rates drop 27.5%
Xeneta’s Shipping Index (XSI) has been falling for the past nine months as shippers renegotiated lower contract rates on the back of sharply falling spot rates. However, the 27.5% drop for May marks a collapse. Patrik Berglund, CEO of Xeneta, stated: “If industry observers were left wondering just how bad it could get for carriers after the 10% fall in long-term rates seen in
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