Box shipping rates have dropped 1% compared to last week, according to Drewry’s latest report.
Freight rates now average $1,899/FEU.
Freight rates on Asia-Europe routes continue to fall. On the Shanghai-Rotterdam and Shanghai-Genoa routes, they fell by 1% and 2% respectively, to $2,094/FEU and $2,826/FEU.
Analysts at the British consulting firm forecast that March should usually see a renewed increase in cargo volumes shipped by sea, due to the reopening of Chinese factories. However, they believe that freight rates will continue to remain under pressure due to excess stowage capacity.
As for transpacific trade, rates on the Shanghai–Los Angeles route fell by 1% to $2,191/FEU, while rates on the Shanghai–New York route remained stable at $2,771/FEU.
