Drewry's latest World Container Index (WCI) has shown a further decline in global container freight rates, dropping 3% to $2,091 per 40ft container this week. This marks a significant 80% decrease from the pandemic peak of $10,377 recorded in September 2021, though still 47% higher than the 2019 pre-pandemic average of $1,420.
The year-to-date average composite rate now stands at $2,811, slightly below the 10-year average of $2,893, a figure still inflated by the unprecedented rate levels seen during the 2020–22 Covid-19 period.
Route-specific rate changes highlight this downward trend:
- Shanghai to Rotterdam fell 5% to $2,202
- Rotterdam to Shanghai and Shanghai to Genoa declined 4% to $464 and $2,889 respectively
- Shanghai to New York and Rotterdam to New York each dropped 3%, landing at $3,500 and $2,041
- Los Angeles to Shanghai fell 2% to $689, while Shanghai to Los Angeles dropped 1% to $2,590
Only New York to Rotterdam bucked the trend with a 2% increase to $842
Drewry noted, 'We expect rates to continue declining in the coming week due to uncertainty stemming from reciprocal tariffs.'
More information:
Drewry
www.drewry.co.uk