Ocean carriers remain in pole position in negotiations for long-term freight contracts, with high demand, port congestion, and supply chain disruption driving further rates increases. According to the Xeneta Shipping Index (XSI®) Public Indices, long-term rates recorded their tenth consecutive month-on-month rise in October, climbing by 2.2%. The indices now stand at a colossal 93.1% up year-on-year, with little hope of relief on the horizon for embattled shippers.
The past few months have seen...