DREWRY’S World Container Index decreased 10% to US$2795 per 40-foot container this week.
The index is now 73% below the previous pandemic peak of US$10,377 in September 2021 and at its lowest since May 2024.
However, the index was 97% higher than the average US$1420 in 2019 (pre-pandemic).
The average year-to-date composite index is US$3465 per 40-foot container, US$583 higher than the 10-year average of US$2881 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to New York decreased 13% or US$748 to US$5126 per 40-foot container and those from Shanghai to Los Angeles decreased 11% or US$504 to US$3888 per 40-foot container.
Likewise, rates from Shanghai to Rotterdam reduced 9% or US$269 to US$2618 per 40-foot container and those from Shanghai to Genoa fell 8% or US$326 to US$3837 per 40-foot container.
Freight rates from Rotterdam to New York declined 3% or US$69 to US$2394 per 40-foot container.
Meanwhile, rates from Rotterdam to Shanghai, Los Angeles to Shanghai and New York to Rotterdam remained stable.
Drewry expects a slight decrease in spot rates next week as capacity increases.
