Contract rates for sea container transportation have halved since the beginning of the year

The latest Xeneta Shipping Index (XSI®) data has shown a 9.4 percent decrease in global shipping container rates for June 2023 compared to the previous month. During 2023, the contract rates have decreased by 51.7%, PortNews reports.

Xeneta’s in-depth analysis shows declines in all import and export benchmarks across all regions. In Europe, the import index hit a 24-month low in June, a 9.4% decline since May, while the export index dropped by 5.1% over the month.

The only exception in June is the trade route from the East Coast of South America to China, which increased in price by 11% compared to the previous month.