ContainersEurope

Xeneta moves to take spot box freight rate mantle from the Shanghai Shipping Exchange

Oslo-headquartered Xeneta has moved to fill the gap left by the Shanghai Shipping Exchange in supplying the container shipping industry with free, daily freight rate data.

Many in the liner community were disappointed when the Shanghai Shipping Exchange decided a few months ago to take its Shanghai Containerized Freight Index (SCFI), the spot freight rate benchmark for the industry, behind a paywall – the decision taken at a time of unprecedented market volatility for the sector.

Now, however, a new solution has emerged from Norway where freight rate platform Xeneta has decided to publish its short-term index free of charge.

Increased demand means an increased demand for intelligence from all stakeholders


The launch of the Xeneta Shipping Index (XSI) for the short-term market is a “gift” to the container shipping industry, the company said in a release yesterday, going on to claim that its crowd-sourced data was more broad than that offered by its Chinese counterpart.

“Xeneta data commands the same industry authority as that of the SCFI with even broader coverage, with a 99% correlation in short-term rates,” Xeneta claimed.

Xeneta data commands the same industry authority as that of the SCFI with even broader coverage

“The XSI for the long-term contract segment launched in 2018 and has established itself as the go-to solution for an industry looking to make sense of market movements,” commented Xeneta CEO Patrik Berglund. “However, in a constantly evolving rate landscape there’s no one-size-fits-all approach anymore. Shippers must stay proactive to obtain optimal value, so we’re seeing strategies with a greater mix of short and long-term agreements to adapt to on-going rate fluctuations. Increased demand means an increased demand for intelligence – from all stakeholders – and, with our unique data sets, we’re perfectly positioned to deliver.”


The XSI will be updated daily with a two-day lag, giving the public insights across 12 key lanes within the Asia – Europe, Pacific and Atlantic trade corridors. Xeneta’s main site also now features the new spot rates ticker.

“The demand for true intelligence in this most dynamic of segments is increasing exponentially. With rates and competition at such intense levels data insights are no longer a nice to have, they’re a must for businesses everywhere,” Berglund added.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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