Container rates: turmoil driving long-term freight rates to historic highs

Container rates hit historic highs. 2021 has got off to flying start for long-term contracted ocean freight rates, according to the latest XSI Public Indices report from Xeneta.  January’s XSI, which gleans unique intelligence from crowd sourced real-time shipping rates, shows one of the highest ever monthly rate increases, with a global jump of 5.9%. This leaves the index 4.5% up year-on-year, with few signs of relief on the horizon. Source Xeneta