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 6% to $2,138.70 per 40 feet container this week, and is 77% lower than the same week in 2021, which is the 41st consecutive week with a decrease.
Freight rates on Shanghai – Rotterdam dropped 14% or $279 to $1,686 per FEU. Spot rates on Shanghai – Genoa fell 6% or $177 to $2,908, while rates from Shanghai – New York slipped 9% or $415 to $3,993 per 40 feet box respectively.
Similarly, rates on Shanghai – Los Angeles slid 2% to $1,997 per FEU. Rates on Rotterdam – Shanghai slipped 3% to $799, Rotterdam – New York fell 1% to $7,151 per FEU respectively.
Rates on New York – Rotterdam and Los Angeles – Shanghai hovered around the previous week’s level. Drewry expects smaller week-on-week reductions in rates in the next few weeks.
Source: World Container Index, Drewry Supply Chain Advisors
