THE DREWRY World Container Index fell by 2% to US$1756.83 per 40-foot container this past week.
The composite index has dropped by 79% when compared with the same week last year and it is now 83% below the peak of US$10,377 reached in September 2021.
The index is 35% lower than the 10-year average of US$2690, indicating a return to more normal prices, but remains 24% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$1957 per 40-foot container, which is US$733 lower than the 10-year average.
Rates on Rotterdam – New York slid by 5% or US$265 to settle at US$5061 per 40-foot box.
Freight rates on Shanghai – Rotterdam fell 4% to US$1490 per 40-foot container.
Likewise, rates on Shanghai – New York dipped 2% to US$2598 per FEU.
Rates on Shanghai – Los Angeles and New York – Rotterdam contracted 1% to US$1,897 and US$1153 per 40-foot container, respectively.
However, rates on Rotterdam – Shanghai increased 1% to US$693 per FEU.
Rates on Shanghai – Genoa and Los Angeles – Shanghai hovered around the previous week’s level. Drewry said it expects small week-on-week reductions in rates in the upcoming weeks.
