THE Drewry World Container Index shows a seven per cent decrease in the composite index, which now stands at US$2,368 per FEU.
Drewry expects a continued decline in rates in the coming weeks, attributed to an expected increase in container shipping capacity. That includes new vessels entering service, and a possible return by major carriers to the Red Sea and Suez Canal.
This marks the lowest point since January 2024 and represents a dramatic 77 per cent decline from the pandemic-era peak of $10,377 recorded in September 2021. Despite this substantial drop, current rates remain 67 per cent higher than the pre-pandemic average of $1,420 in 2019.
The average year-to-date composite index closed at $3,205 per FEU. This figure exceeds the 10-year average of $2,884 by $321, though it's important to consider that this long-term average was significantly inflated by the exceptional circumstances of the 2020-2022 Covid period.
Shanghai to Genoa decreased by 11 per cent ($412) to $3,333 per FEU.
Shanghai to Los Angeles: fell eight per cent ($260) to $2,906.
Shanghai to New York: reduced by seven per cent ($282) to $4,038.
Shanghai to Rotterdam: dropped five per cent ($124) to $2,512.
Routes that saw minor increases include Rotterdam to Shanghai, New York to Rotterdam, and Rotterdam to New York. These routes all experienced a one per cent uptick, reaching $490, $854 and $2,373 per FEU, respectively.
The Dutch port, the world's 10th-busiest, has seen significant congestion the past several weeks.
Drewry said rates on the Los Angeles to Shanghai transpacific route remained stable during this period.
https://www.shippingazette.com/news?news_id=9250300000489
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