Xeneta: Long-Term Ocean Freight Rates Fall Again, With Almost 50% Drop In Key Pricing Benchmark Across Last Three Months

The beleaguered carrier industry took another major hit in June, with the latest data from Xeneta’s 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 …