Drewry: The World Container Index decreased by 2% this week 34-2024

In accordance with the assessment of Drewry Supply Chain Advisors, the container rates decreased again slightly this week. As it is mentioned, their composite World Container Index decreased by 2% to $5,319 per 40-feet container.

Freight rates from Shanghai to Genoa decreased 5% or $394 to $6,788 per 40-feet container. Similarly, rates from Shanghai to Rotterdam dropped 4% or $327 to $7,429 per FEU.

Likewise, spot rates from Rotterdam to New York fell 1% or $27 to $1,934 per 40-feet box.

Conversely, rates from Shanghai to Los Angeles increased 2% or $98 to $6,401 per 40-feet container. Similarly, rates from Shanghai to New York inched up 1% or $47 to $8,811 per FEU.

Meanwhile, rates from Rotterdam to Shanghai, Los Angeles to Shanghai and New York to Rotterdam remain stable.

The recent uptick in transpacific Eastbound freight rates to the US West Coast and East Coast could be attributed to the looming ILA port strike on October 1 and the anticipated rush to ship goods before the strike begins. Therefore, Drewry expects rates on Transpacific trade to continue increasing in the coming weeks.

^{Source: World Container Index, Drewry Supply Chain Advisors}