Drewry analysis

Container spot rates continue to fall

by Port News Editorial Staff

Yet another downturn, for the 43rd week running, for spot freight rates in the container shipping market. Drewry’s World Container Index dropped by 0.3% on the previous week to $2,120 per 40-foot container and remains 80% below the peak reached in September 202, when rates had averaged $10,377 per FEU.

Spot rates, currently 21% below the average of the last ten years and down 77% compared to the rates of the same week last year, nevertheless remain 49% higher than the pre-pandemic levels of 2019.

Shanghai – Rotterdam freight rates are up 2% to $1,706 per FEU while Shanghai – New York freight rates are down 2% on the previous week to $3,889 per forty-foot box.

Freight rates on the Shanghai-Genoa and Los Angeles-Shanghai trade routes both fell by  1% to $2,879 and $1,169 per forty-foot box, respectively.

Rotterdam-Shanghai and Rotterdam-New York rates were are both down by 1%, to $789 and $6,989 per FEU respectively.

New York-Rotterdam and Shanghai-Los Angeles spot rates have remained the same as the previous week.

Translation by Giles Foster

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