DREWRY’S World Container Index decreased by 3% this week, to US$3050 per 40-foot container.
The latest composite index figure represents a 67% drop since the same week last year and the 36th consecutive weekly decrease.
It is now 71% below the peak of US$10,377 reached in September last year, and 19% lower than the five-year average of US$3754.
Drewry said the 19% drop indicates a return to more normal prices, but they remain 115% higher than average 2019 (pre-pandemic) rates of US$1420.
According to Drewry, freight rates on Shanghai to New York dropped US$340 to reach US$5694 per FEU.
Spot rates on Shanghai to Rotterdam dropped US$161 to US$3684 per 40-foot box.
Similarly, rates on Shanghai to Genoa slid 3% to US$4087 per FEU and rates on Shanghai to Los Angeles dipped 2% to US$2364 per 40-foot container.
Likewise, rates on Los Angeles to Shanghai and Rotterdam to Shanghai fell 1% each to US$1165 and US$876 per FEU, respectively.
However, rates on Rotterdam to New York increased by US$142 to reach US$7426 per 40-foot box.
Drewry said rates on New York to Rotterdam hovered around the previous week’s level.
The maritime research consultancy expects smaller week-on-week reductions in rates in the next few weeks.
