DREWRY’S World Container Index decreased again this past week, continuing a downward trend that began in recent weeks reversing a long, steady incline.
The composite index has fallen 3% to US$5551 per 40-foot container this week.
The figure is 47% below the previous pandemic peak of US$10,377 in September 2021, but it is 291% more than the average 2019 (pre-pandemic) rate of US$1420.
The average composite index for the year-to-date is US$3996 per 40-foot container, which is US$1204 higher than the 10-year average rate of US$2791 (which was inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Los Angeles and Shanghai to Genoa decreased 4% to US$6501 and US$7309 per 40-foot container, respectively.
Likewise, spot rates from Shanghai to Rotterdam and Shanghai to New York declined 3% to US$7929 and US$8931 per 40-foot container, respectively.
Conversely, rates from Rotterdam to New York and Rotterdam to Shanghai increased 1% to US$1967 and US$630 per FEU, respectively.
Meanwhile, rates from Los Angeles to Shanghai and New York to Rotterdam remain stable.
Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.
