DREWRY's World Container Index decreased by four per cent to US$3,162 per FEU last week, said the Netherlands' Fresh Plaza report.
The latest Drewry WCI composite index of $3,162 per 40ft container is 123 per cent more than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $3,493 per 40ft container, which is $794 higher than the 10-year average rate of $2,699 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Rotterdam and Shanghai to Genoa decreased five per cent to $3,473 and $4,223 per 40ft box. Similarly, freight rates from Shanghai to Los Angeles dropped four per cent or $190 to $4,082 per FEU respectively.
Followed by rates on Rotterdam to Shanghai which reduced two per cent or $16 to $845 per 40ft container. Likewise, rates on Los Angeles to Shanghai and Shanghai to New York declined one per cent to $707 and $5,411 per feu respectively.
While rates on Rotterdam to New York increased to per cent or $50 to $2,242 per 40ft container. Similarly, freight rates from New York to Rotterdam grew three per cent or $20 to $644 per 40ft box. Drewry expects spot rates ex-China to continue declining in the coming weeks, while freight rates on the transatlantic will remain stable.
Source: shippingazette