Long-term container freight rates are rising faster than ever.
The contract rate surged by a massive 28.1% in July, the largest ever monthly increase, according to the Xeneta Shipping Index (XSI).
The hike eclipses the previous record set in May 2019, which registered an 11.1.% increase.
“This is a truly breathtaking development,” said Patrik Berglund, chief executive of Oslo-based Xeneta.
