XSI® Far East
Imports & Exports Far East Corridors See Double-Digit Dips and 14% Volume Drop
The XSI® for Far East exports experienced a decline in April, falling to 366.6 points, which marked its lowest level since February 2022 and represented a 10% decrease from March. Since the start of the year, the XSI® for Far East exports has experienced an 18.2% decline.
Similarly, the XSI® for Far East imports decreased by 15.5% in April, reaching 159.6 points, which was its lowest level since October 2021.
Although exports out of the Far East are still facing low demand, carriers have been able to improve their filling factor slightly due to a reduction in capacity.
By removing services and blanking sailings, the average filling factor from the Far East to Europe, the US, and the East Coast of South America increased from 84% in Q4 2022 to 87% in Q1 2023.
Despite that this is still lower than the highs in 2021 and 2022 by a few percentage points, it is a remarkable accomplishment given the 14.0% drop in volumes out of the Far East.