The downward trend in spot freight rates in the container shipping market seems to be unstoppable. Drewry’s World Container Index fell by 8% on the previous week to 3688 dollars per 40-foot container and remains 64% below the peak reached in September 2021, when rates had averaged 10377 dollars per FEU.
Spot rates, currently 1% below the last five-year average, nevertheless remain 160% higher than the pre-pandemic 2019 levels.
Shanghai – Rotterdam freight rates fell by 13%, to 4724 dollars per FEU. Shanghai and Los Angeles tariffs were also down 9%, on the previous week, to 2995 dollars per forty-foot box.
Freight rates on the Shanghai-Genoa and Shanghai-New York trade routes fell by 6% and 5% respectively, to 4912 dollars and 6887 dollars per FEU.
Rates on the Rotterdam-Shanghai and Los Angeles-Shanghai trade routes were both down 4% on a weekly basis, to 967 dollars and 1226 dollars per FEU, respectively.
On the other hand, Rotterdam -New York rates were up by 3% on the previous week, to 7252 dollars per 40-foot container.
The New York – Rotterdam rates also increased by 4% to 1305 dollars per FEU.
Drewry expects rates to fall further in the coming week.
Translation by Giles Foster
