News / Container freight rates: 'collapse' is the word, says Xeneta

© Mr.siwabud Veerapaisarn

June is bearing few surprises for container shipping, with demand continuing its inexorable downward correction.

In its latest XSI report, Xeneta’s index of rates is down by 42% year on year, May marking the ninth consecutive month of dropping rates.

And long-term rates fell 27.5% last month alone – prompting Xeneta CEO Patrik Berglund to say that “collapse” was the only appropriate descriptive word.

“This is the largest drop we’ve ever experienced on the XSI, which charts real-time global rates developments, and it ...