This glossary provides definitions for common terms that you might see in Xeneta's ocean freight platform.

A

Aggregation

Aggregation in Xeneta is both the process and the result of combining multiple ocean freight rates (or other types of market data) to produce a single benchmark value that you could compare your performance to.

All-in rate

An all-in rate is a rate that includes the base rate and all additional fees and surcharges associated with transporting a container from the origin port to the destination port.

B

Base rate

A base rate is the basic freight charge that doesn't include any additional fees or surcharges associated with transporting a container from the origin port to the destination port.

Blanked capacity

Blanked capacity refers the to the total number of containers that were taken out of the ocean market within a given time period due blanked sailings. In Xeneta, blanked capacity data is available as part of our Capacity dataset.

Blanked sailing

A blanked sailing is a sailing that has been canceled by the carrier — it could mean a vessel skipping a single port along its journey, or the entire journey being canceled.

Budget outlook

Budget outlook refers to Xeneta's Budget outlook tool that provides an estimate of how much we expect you to spend shipping your volumes at today's market rates compared to what you spent during your last tender.

Budget scenario

Budget scenarios are key values provided by Xeneta's Budget outlook tool that represent the best, average, and worst cases for how much we expect you to spend shipping your volumes at today's market rates.

Bunker Adjustment Factor

Bunker Adjustment Factor (or BAF) is a typical surcharge imposed by ocean carriers to compensate for fluctuations in fuel prices and are included in the market rates shown in Xeneta.

C

Capacity

Capacity (or market capacity) in Xeneta refers to the total number of containers that were available for booking on carriers' vessels within a given time period. In Xeneta, Capacity is also the name of one of our available datasets that provides information on offered and blanked capacity across specific corridors.

Carrier

Carriers are the companies that own and operate cargo ships (or vessels) and provide ocean freight services.

Carrier spread

Carrier spread (now called Carrier rates) is a feature available in Market benchmarks that shows rates from individual carriers across specific specific trade corridors.

Coverage

Coverage refers to the percentage or amount of trade lanes found in your rates where Xeneta has enough market rate data to provide a benchmark (or comparison).

To learn more, see Coverage.

Covered spend

Covered spend refers to the amount of your total spend across trade lanes where Xeneta has coverage.

Covered volume

Covered volume refers to the volume of your cargo shipped on trade lanes where Xeneta has coverage.

Currency Adjustment Factor

Currency Adjustment Factor (or CAF) is a typical surcharge imposed by ocean carriers to compensate for fluctuations in foreign exchange rates and are included in the market rates shown in Xeneta.

D

Demurrage

Demurrage is a fee charged by the terminal if your container remains at the port for longer than the number of available free days.

Detention

Detention (also known as per diem) is a fee charged by the ocean carrier for each day past the number of available free days that their empty container is not returned to the port.

E

European Union Emissions Trading System

European Union Emissions Trading System (or EU ETS) is a market mechanism developed by the European Union that requires polluters (including ocean carriers) to report and pay for their carbon emissions. Historical development of EU ETS fees is available as part of our Carbon emissions dataset.

F

Free days

Free days in Xeneta refers to the amount of free storage time in which a container can be picked up from or returned back to the port without paying demurrage or detention fees respectively. In Xeneta, free days data is available as part of our Detention and demurrage dataset.

Freight forwarder

Freight forwarders are companies who co-ordinate the movement of cargo on behalf of shippers .

Future rate

Future rates in Xeneta are rates that are associated with contracts that begin in the future or are otherwise valid beyond the current day.

To learn more, see Future rates.

G

Geo-hierarchy

Geo-hierarchy (or regional hierarchy) refers to the way Xeneta organizes ports across the world into regional groupings based on their proximity and rate similarity.

To learn more, see Geo-hierarchy methodology.

I

Industry peer

Industry peers in Xeneta are companies that operate in the same industry as you.

L

Long-term contract

Long-term contracts are ocean freight contracts that are valid for longer than 87 days.

Long-term rate

Long-term rates in Xeneta are rates that are associated with long-term contracts.

M

Market benchmark

Market benchmarks are market segments (or positions) that Xeneta calculates using its database of market data that serve as reference points used to compare your performance against the market.

To learn more, see Market segments.

Market metric

Market metrics are a set of filters available in Xeneta that allow you to adjust the market data you see in our platform to more accurately position your rates against the market.

To learn more, see Market metrics.

Market spend

Market spend is a metric available in some of our Analyze tools that uses your volumes to calculate how much other market players are spending at different market segments compared to your spend.

N

Negative rate

Negative rates refer to instances where under specific market conditions the base freight rate (excluding any fees or surcharges) on certain trade lanes or corridors could be negative.

To learn more, see Negative rates.

O

Offered capacity

Offered capacity refers to the total number of containers that were available for booking on carriers' vessels within a given time period. In Xeneta, offered capacity data is available as part of our Capacity dataset.

P

Peak season surcharge

Peak season surcharges are typical charges imposed by ocean carriers during times of especially high demand. These busy periods are most common before the fall and winter holidays, and before the Chinese New Year.

Peer comparison

Peer comparison is a tool available in Performance overview that allows you to see how well you're performing in terms of spend compared to other companies operating in the same industry or shipping similar volumes to yours.

R

Region

Regions are broad geographic locations that can contain multiple multiple ports in a specific area. For example, East China or North Europe.

To learn more, see Geo-hierarchy methodology.

Reliability

Reliability (or schedule reliability) refers to carriers's on-time performance or how well they're adhering to their announced schedules on a specific trade lane or corridor. In Xeneta, Reliability is also the name of one of our available datasets that shows average reliability as well as individual carrier performance across specific corridors.

S

Savings achieved

Savings achieved is a metric we use in some of our Analyze tools that shows how much you have already saved compared to the market based on your current contracted rates.

Savings potential

Savings potential is a metric we use in some of our Analyze tools that highlights the amount you could potentially save if your contracted rates were more aligned with the market.

Shipper

Shippers are entities that initiate the process of cargo transportation, hiring freight forwarders to ship their goods from the place of origin to their destination.

Short-term contract

Short-term contracts are ocean freight contracts that are valid for less than 32 days.

Short-term rate

Short-term rates in Xeneta are rates that are associated with short-term contracts.

Spend

Spend in Xeneta is a value calculated as rate (or cost per container shipped) multiplied by the number of containers shipped on a specific trade lane. We use this value to calculate potential savings (or cost reductions) that you could achieve if your rates were more in line with market low, average, or high.

Spend development

Spend development is a key metric that we use to calculate your budget scenarios in Budget outlook.

To learn more, see Budget scenarios and spend development.

Surcharge

Surcharges are various extra fees charged by carriers or freight forwarders on top of standard rates to cover additional risks and expenses like fuel and currency fluctuations, terminal handling , or seasonal costs.

T

Tender group

Tender groups are a way to organize your reports in Xeneta's Tender benchmark tool.

Terminal handling charge

Terminal handling charges (or THCs) are fees charged by container terminals at the origin (OTHC) and destination (DTHC) ports for the various services that they provide.

To learn more, see Terminal handling charges.

Trade corridor

Trade corridors (or simply corridors) in Xeneta are ocean freight routes between two larger geographic regions. For example, Asia — Europe or Europe – North America.

Trade lane

Trade lanes (or simply lanes) in Xeneta are ocean freight routes between two ports. For example, Shanghai (CNSHG) — Hamburg (DEHAM) or Amsterdam (NLAMS) – Los Angeles (USLAX).

Transit time

Transit time refers to the total time it takes for cargo to be transported from the port of origin to the destination port. In Xeneta, Transit times is also the name of one of our available datasets that provides information on the average vessel transit time across specific corridors.

V

Volume

Volume refers to the number of containers shipped within a given timeframe. We use volume to calculate your spend, which allows us see how your freight costs compare to the rest of the market.

To learn more, see Volume.

Volume peer

Volume peers are shippers whose volumes on specific trade lanes or corridors is similar to yours.

W

Watchlist

Watchlists in are custom lists available in Market overview that you can use to organize and keep track of rates changes across multiple trade lanes or corridors.

To learn more, see Watchlists.