DREWRY’S World Container Index has continued to decline, falling by 4% to US$3349 per 40-foot container this week.
The latest composite index is 68% below the previous pandemic peak of US$10,377 in September 2021, but it is 136% more than the average 2019 (pre-pandemic) rate of US$1420.
The average composite index for the year-to-date is US$4079 per 40-foot container, which is US$1248 higher than the 10-year average rate of US$2831 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Rotterdam to Shanghai decreased 8% or US$47 to US$543 per 40-foot container. Similarly, rates from Shanghai to Rotterdam dropped 6% or US$224 to US$3591 per feu.
Likewise, rates from Shanghai to Los Angeles fell 5% or US$239 to US$5019 per 40-foot box. Also, rates from Shanghai to New York declined 3% or US$161 to US$5761 per feu.
Similarly, rates from Shanghai to Genoa shrank 2% or US$64 to US$3784 per 40-foot box. Conversely, rates from New York to Rotterdam and Rotterdam to New York increased 1% to US$730 and US$2083 per 40-foot box respectively.
Meanwhile, rates from Los Angeles to Shanghai remained stable.
The ILA port strike, which began on October 1, 2024, ended after three days on October 4, 2024. Following the tentative deal, Drewry expects rates ex-China to continue to decrease marginally in the coming weeks.
