DREWRY’S World Container Index decreased 3% this week to US$3855 per 40-foot container.
The composite index is now 63% below the previous pandemic peak of US$10,377 in September 2021, but 171% higher than the average US$1420 in 2019 (pre-pandemic).
The average year-to-date composite index is US$3915 per 40-foot container, US$1045 higher than the 10-year average of US$2871 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Los Angeles decreased 5% or US$248 to US$5228 per 40-foot container. Similarly, rates from Shanghai to New York fell 4% or US$260 to US$6825 per 40-foot container.
Rates from Shanghai to Rotterdam dropped 3% or US$144 to US$4231 per 40-foot container.
Those from Shanghai to Genoa also reduced 2% or US$124 to US$5086 per 40-foot container, and rates from Rotterdam to Shanghai shrank 1% or US$4 to US$518 per 40-foot container.
Conversely, spot rates from Rotterdam to New York increased 4% or US$100 to US$2798 per 40-foot container. Similarly, rates from Los Angeles to Shanghai rose 1% or US$6 to US$725 per 40-foot container.
Meanwhile, rates from New York to Rotterdam remained stable.
Drewry expects spot rates to decrease slightly in the coming weeks due to increased capacity.
