Drewry’s analysis

Shanghai -Genoa spot rates down 11%

by Port News Editorial Staff

This week, sea freight container rates were down 1% to $3,786 per FEU compared to the previous week. They are 90% higher than the same week last year and 167% higher than the same period in 2019.

Shanghai – Genoa freight fell 11%, to $5225 per FEU while Shanghai – Rotterdam rates were down  5%, to $4426 per FEU. Similarly, New York – Rotterdam rates were down 4%, to $611 per FEU. Los Angeles – Shanghai tariffs also fell, by 1%, to $726 per FEU.

By contrast, Rotterdam – New York rates skyrocketed 24%, to US$1978 per FEU. Shanghai – Los Angeles rates also rose, up 8%, to US$4771 per FEU, while spot freight rates on the Rotterdam – Shanghai route increased by 3%, to US$990 per FEU. Finally, on the Shanghai – New York rates were up  2%, to $6268 per FEU.

Translation by Giles Foster

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