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"Shippers will be reluctant to commit to long-term rates during the height of disruption due to the Red Sea crisis."

Answer to contrasting fortunes of XSI in September and October could be found in the Far East

Little uptick offers glimmer of hope for carriers looking for signs of market recovery

Routes from the Far East, the busiest globally, experienced a significant 75% YoY contract value reduction

XSI for U.S. exports hits an all-time high in February, zooming 16.5% to 179 points

"With little sign of change ahead, this will be a challenging year for the carriers."

Largest month-on-month decline recorded since the launch of XSI in 2019

Halcyon days of ever-increasing rates for carriers may be drawing to a close: Xeneta

Carriers remain on course for another bumper year of profits despite uneven demand and supply chain issues.

July's increases slowest since January with upward pressure on long-term deals easing as spot rates decline.

Year-on-year, the benchmark has appreciated 170 percent and is up 71 percent since the end of 2021.

Rates are now up 150% year-on-year. Costs have increased 55% in 2022.