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Freight rates experience fluctuation amid market adjustments

This week, Drewry's World Container Index dropped 8% to $4,775 per 40-foot container.

The most recent Drewry WCI composite index, which is valued at $4,775 per 40-foot container, is 236% more than the average 2019 (pre-pandemic) rate of $1,420 but 54% lower than the last pandemic peak of $10,377 in September 2021.

Furthermore, the 10-year average pricing of $2,814 (inflated by the unusual 2020–22 Covid period) is $1,313 greater than the average composite index for the year thus far, which is $4,127 per 40-foot container.

From Shanghai to Rotterdam, the cost of freight fell by 14%, or $985, to $6,219 for a 40-foot container. In a comparable manner, rates fell 12%, or $769, to $5,842 per feu, from Shanghai to Genoa. Similarly, spot prices dropped $218 to $6,030 per 40-foot box, or 3%, from Shanghai to Los Angeles. Similarly, charges per 40-foot container from Rotterdam to Shanghai and Shanghai to New York dropped by 2% to $8,451 and $612, respectively. Moreover, spot rates decreased by 1%, or $11, to $732 per feu, from New York to Rotterdam.

On the other hand, the cost of a 40-foot box from Rotterdam to New York went up by 16%, or $304, to $2,212. Similarly, spot prices for a 40-foot container from Los Angeles to Shanghai increased by 1%, or $4. This week has seen a minor decline in transpacific eastbound freight rates, despite the imminent possibility of an ILA port strike. In the following weeks, Drewry anticipates a decrease in Asia-Europe prices.

Spot freight rates by major route

An assessment across eight East-West trades:

For more information:
Drewry Shipping Consultants Limited
Tel: +44 (0)207 538 0191
Email: [email protected]
www.drewry.co.uk

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