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Drewry index down after previous week's increases

Box spot freight rates oscillating

by Port News Editorial Staff

Container shipping rates have been fluctuating . After closing last week with a 4% increase over the previous one, Drewry’s updated weekly index shows a 2% drop to $1,740 per forty-foot container.

The average tariff is now 78% lower than in the same week last year, but still 23% above 2019 levels ($1420).

With the exception of freight rates on the Los Angeles-Shanghai route, up by 1%, to $1017 per FEU, freight rates were down on all other east-west routes, like the Shanghai-Rotterdam (-1%, to $1592 per FEU) and Rotterdam-New York (-2%, to $4806 per FEU) ones.

Similarly, rates on the Rotterdam-Shanghai and New York-Rotterdam routes dropped by 4% each, to 596 and 926 dollars per FEU respectively.

Freight rates on Shanghai – Genoa routes were also down, by 3% on a weekly basis, to $2193 per FEU. The same scenario for freight rates on the Shanghai – Los Angeles and Shanghai – New York routes, both falling by 2% each, to $1820 and $2780 per 40-foot container, respectively.

Translation by Giles Foster

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