DREWRY’S World Container Index decreased again this past week, dropping 3% to US$5181 per 40-foot container.
The latest figure is 50% below the previous pandemic peak of US$10,377 in September 2021, but it is 265% more than the average 2019 (pre-pandemic) rate of US$1420.
The average composite index for the year-to-date is US$4108 per 40-foot container, which is US$1299 higher than the 10-year average rate of $2809 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Rotterdam and Genoa decreased 3% to US$7204 and US$6611 per 40-foot container, respectively.
Likewise, rates from Shanghai to Los Angeles, Shanghai to New York and New York to Rotterdam decreased 2% to US$6248, US$8591 and US$743 per 40-foot box, respectively.
Similarly, spot rates from Rotterdam to Shanghai and New York decreased by 1% to US$622 and US$1908 per 40-foot container, respectively.
Meanwhile, rates from Los Angeles to Shanghai remain stable.
Drewry said that despite the looming threat of an ILA (International Longshoremen’s Association) port strike, transpacific Eastbound freight rates have seen a slight dip this week.
Drewry expects East-West rates to remain stable in the upcoming weeks.
