Global container spot freight rates declined for a second consecutive week, according to the latest World Container Index from Drewry Shipping Consultants Limited.
The index fell 1% to US$2,232 per 40ft container on 23 April, reflecting softer pricing on the Asia-Europe trade despite higher fuel costs and previously announced war-risk surcharges linked to disruption around the Strait of Hormuz.
© Mr.siwabud Veerapaisarn | Dreamstime
Rates from Shanghai to Genoa dropped 8% to US$3,071 per 40ft container, while Shanghai to Rotterdam fell 4% to US$2,147. Drewry said weak seasonal demand and excess vessel capacity continued to pressure prices, with only limited blank sailings announced on the route.
By contrast, transatlantic freight rates rose sharply. Prices increased 15% to US$2,326 per 40ft container, supported by capacity reductions and a US$1,100 peak season surcharge introduced by carriers from mid-April.
Transpacific rates also strengthened as operators reduced available space to balance softer seasonal demand. Shanghai to Los Angeles increased 4% to US$2,934 per 40ft container, while Shanghai to New York remained stable at US$3,562.
Drewry noted that geopolitical tensions in the Middle East continue to constrain vessel movements in the Strait of Hormuz. Although bunker fuel prices remain above pre-conflict levels, they have eased from recent highs and have not been sufficient to reverse the broader downward pressure caused by weak cargo demand.
© Drewry
For furniture and interiors importers, freight costs remain significantly below previous peak-cycle levels, but route-specific volatility continues to affect sourcing decisions, lead times and landed costs.
Drewry expects container freight rates to remain comparatively less volatile in the coming week as carriers continue adjusting capacity to match demand.
More information:
Drewry
www.drewry.co.uk
