DREWRY’S World Container Index decreased 5% to US$3095 per 40-foot container this week.
The index is now 70% below the previous pandemic peak of US$10,377 in September 2021. However, the index was 118% higher than the average US$1420 in 2019 (pre-pandemic).
The average year-to-date composite index is US$3560 per 40-foot container, US$680 higher than the 10-year average of US$2880 (inflated by the exceptional 2020-22 covid period).
Freight rates from Shanghai to Rotterdam decreased 8% or US$238 to US$2887 per 40-foot container while those from Shanghai to Los Angeles fell 7% or US$325 to US$4392 per 40-foot container.
Rates from Shanghai to New York reduced 5% or US$338 to US$5874 per 40-foot container with those from Shanghai to Genoa and Los Angeles to Shanghai decreased 2% and 1% to US$4163 and US$703 per 40-foot container, respectively.
Meanwhile, rates from Rotterdam to Shanghai, New York to Rotterdam and Rotterdam to New York remained stable.
Drewry expects spot rates to decrease in the coming week due to lower demand after the Chinese New Year holidays.
