DREWRY’S World Container Index has decreased again by 1% this week to US$5736 per 40-foot container.
It marks the second week in a row the container index has seen a decrease, including the 2% decrease from last week.
The latest composite index of US$5736 per 40-foot container is 45% below the previous pandemic peak of US$10 377 in September 2021, but is 304% more than the average 2019 (pre-pandemic) rate of US$1420.
The average composite index for the year-to-date is US$3946 per 40-foot container, which is US$1161 higher than the 10-year average rate of US$2785 (which was inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Los Angeles decreased 3% or US$194 to US$6740 per 40-foot container.
Likewise, spot rates from Shanghai to Rotterdam and New York declined 1% to US$8200 and US$9166 per 40-foot container respectively.
Conversely, rates from New York to Rotterdam increased 4% or US$32 to US$768 per feu.
Meanwhile, rates from Rotterdam to Shanghai, Shanghai to Genoa, Los Angeles to Shanghai and Rotterdam to New York remain stable.
Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.
