DREWRY’S composite World Container Index decreased by 1% last week to $1741.44 per 40-foot container this week.
The index has dropped by 77% when compared with the same week last year.
The latest index is now 83% below the peak of $10,377 reached in September 2021. It is 35% lower than the 10-year average of $2688, indicating a return to more normal prices, but remains 23% higher than average 2019 (pre-pandemic) rates of $1420.
The average composite index for the year-to-date is $1876 per 40ft container, which is $812 lower than the 10-year average.
Freight rates on Rotterdam – New York fell 5% or $253 to $4530 per 40-foot container.
Rates on New York – Rotterdam slid 4% to settle at $889 per 40-foot box.
Freight rates on Shanghai – Rotterdam contracted by 2% to $1605 per 40-foot container.
Rates on Shanghai – Genoa had a meagre drop of 1% to $2207 per 40-foot container.
Rates on Shanghai – Los Angeles, Rotterdam – Shanghai, Los Angeles – Shanghai and Shanghai – New York hovered around the previous week’s level.
Drewry expects East-West spot rates on routes other than the transatlantic to be stable in the next few weeks.
