According to Drewry, spot rates will decrease slightly in the coming weeks due to increased capacity.
Rates from Shanghai to New York fell by 4% from the previous week and rates from Shanghai to Los Angeles fell by 5%.
Furthermore, the Drewry WCI composite index decreased 3% to $3,855 per 40ft container, 63% below the previous pandemic peak of $10,377 in September 2021, but was 171% higher than the average $1,420 in 2019 (pre-pandemic).
The average YTD composite index is $3,915 per 40ft container, $1,045 higher than the 10-year average of $2,871 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Los Angeles decreased 5% or $248 to $5,228 per 40ft container. Similarly, rates from Shanghai to New York fell 4% or $260 to $6,825 per 40ft container. Likewise, rates from Shanghai to Rotterdam dropped 3% or $144 to $4,231 per 40ft container. Those from Shanghai to Genoa also reduced 2% or $124 to $5,086 per 40ft container, and rates from Rotterdam to Shanghai shrank 1% or $4 to $518 per 40ft container.
Conversely, spot rates from Rotterdam to New York increased 4% or $100 to $2,798 per 40ft container. Similarly, rates from Los Angeles to Shanghai rose 1% or $6 to $725 per 40ft container. Meanwhile, rates from New York to Rotterdam remained stable. Drewry expects spot rates to decrease slightly in the coming weeks due to increased capacity.
