DREWRY’S composite World Container Index decreased by 0.1% to US$1681.04 per 40-foot container this week.
The index has dropped by 78% since the same week last year and is now 84% below the peak of US$10,377 reached in September 2021.
It is 37% lower than the 10-year average of US$2688, indicating a return to more normal prices, but remains 18% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$1851 per 40-foot container, which is US$837 lower than the 10-year average.
Freight rates on Rotterdam – New York fell by 9% or US$339 to US$3375 per FEU.
Rates on Shanghai – Rotterdam dropped 6% or US$91 to US$1452 per 40-foot box.
Similarly, rates on Shanghai – Genoa and New York – Rotterdam declined 2% each to US$2130 and US$794 per 40-foot container, respectively.
Rates on Rotterdam – Shanghai slid by 1% to US$574 per FEU.
Rates on transpacific lanes, Shanghai – Los Angeles and Shanghai – New York increased by 6% and 5% to US$1896 and US$2975 per 40-foot box, respectively.
Rates on Los Angeles – Shanghai hovered around the previous week’s level.
Drewry expects East-West spot rates to rise again on most routes in the next few weeks.
