In accordance with the assessment of Drewry Supply Chain Advisors, the container rates continue to fall. As it is mentioned, their composite World Container index decreased by 2% to $1,756.83 per 40 feet container and this is 79% lower than the same week in 2022.
Rates on Rotterdam – New York slid by 5% or $265 to settle at $5,061 per 40 feet box.
Freight rates on Shanghai – Rotterdam fell 4% to $1,490 per 40 feet container.
Likewise, rates on Shanghai – New York dipped 2% to $2,598 per FEU.
Rates on Shanghai – Los Angeles and New York – Rotterdam contracted 1% to $1,897 and $1,153 per 40 feet container, respectively.
However, rates on Rotterdam – Shanghai increased 1% to $693 per FEU.
Rates on Shanghai – Genoa and Los Angeles – Shanghai hovered around the previous week’s level.
Drewry expects small week-on-week reductions in rates in the upcoming weeks.
Source: World Container Index, Drewry Supply Chain Advisors