Xeneta, an ocean freight rate benchmarking and market analytics platform, and Compass Financial Technologies, a financial index provider for alternative asset classes, announced the launch of the Xeneta Shipping Index by Compass, a daily container freight index.
The ports of Los Angeles and Long Beach handled 39 percent of U.S. container imports in 2002, but that figure fell to 32 percent by 2013, according to U.S. census data. They have lost business to competitors at a time when, overall, global trade is booming and imports are rising at all ports, including L.A. and Long Beach. And the ports are losing out to others that can handle larger vessels.
The United States is on track to saturate the global energy market with liquefied natural gas (LNG) exports by as early as this year, putting itself on course to become one of the world's largest LNG suppliers.
Ocean freight rates for cargoes moving under contracts on major East-West routes have increased for the first time in years, according to Drewry's Benchmarking Club, a closed user group of multinational retailers and manufacturers seeking to more closely monitor their international freight costs.
Global dry cargo demand growth, forecast at 5 percent per annum from 2016 to 2019, should be offset by falling project cargo volumes over the next 12 to 18 months, according to the latest edition of the Multipurpose Shipping Market Review and Forecaster, published by Drewry Maritime Research.