DREWRY’S World Container Index decreased 11% to US$3445 per 40-foot container this week.
The composite index is now 67% below the previous pandemic peak of US$10,377 in September 2021 but was 143% higher than the average US$1420 in 2019 (pre-pandemic).
The average year-to-date composite index is US$3798 per 40-foot container, US$924 higher than the 10-year average of US$2874 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Rotterdam decreased 19% or US$797 to US$3434 per 40-foot container, while those from Shanghai to Genoa fell 10% or US$524 to US$4562 per 40-foot container.
Similarly, rates from Shanghai to Los Angeles reduced 8% or US$415 to US$4813 per 40-foot container followed by rates from Shanghai to New York which decreased 7% or US$448 to US$6377 per 40-foot container.
Also, rates from Rotterdam to Shanghai, Los Angeles to Shanghai, New York to Rotterdam and Rotterdam to New York decreased 1% to US$515, US$721, US$821 and US$2778 per 40-foot container respectively.
Drewry expects spot rates to decrease slightly in the coming week on the back of the Chinese Lunar New Year holidays.
