News / Spot rate contagion has now infected container contract prices, says Xeneta

Longer-term container contract rate increases are fast catching up with the enormous spikes seen in the short-term market over the past year.

The impact of the astronomical premium fee short-term rates has caused a big hike in new long-term contracts carriers have negotiated with their largest shipper customers.

According to the latest assessment from Oslo-based freight rate benchmarking company Xeneta, its long-term contract XSI index soared by a massive month-on-month 28% for July.

“Truly a breath-taking development,” said Xeneta co-founder Patrik Berglund.

“We’ve seen ...