DREWRY’S World Container Index decreased 2% to US$3364 per 40-foot container this week.
The composite index decreased is now 68% below the previous pandemic peak of US$10,377 in September 2021 but was 137% higher than the average US$1420 in 2019 (pre-pandemic).
The average year-to-date composite index is US$3711 per 40-foot container, US$835 higher than the 10-year average of US$2876 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Rotterdam decreased 5% or US$160 to US$3274 per 40-foot container, while those from Shanghai to Genoa fell 4% or US$162 to US$4400 per 40-foot container.
Similarly, rates from Rotterdam to New York reduced 2% or US$46 to US$2732 per 40-foot container followed by rates from Shanghai to New York and Shanghai to Los Angeles, which decreased 1% to US$6288 and US$4771 per 40-foot container, respectively.
Conversely, spot rates from New York to Rotterdam increased 2% or US$18 to US$839 per 40-foot container and rates from Rotterdam to Shanghai rose 1% or US$3 to US$518 per 40-foot container. Meanwhile, rates from Los Angeles to Shanghai remained stable.
Drewry expects spot rates to decrease slightly in the coming week due to the increase in capacity.
