Rates for freight can fluctuate with changes in the market

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This week the Drewry’s World Container Index dropped 8 percent to $4,775 for a 40-foot container.

The most current Drewry WCI composite index, that is worth $4,775 per 40-foot tin, is 236% higher than the typical 2019 (pre-pandemic) rate of $1420 however 54% less than the previous pandemic’s highest of $10,377 that was reported on September 20, 2021.

In addition, the 10-year mean price of $2,814 (inflated due to the unique 2020-22 Covid timeframe) is $1,313 higher than the median composite index of the entire year to date and is $4,127 for each 40-foot container.

From Shanghai From Shanghai Rotterdam In the course of this trip, freight dropped by 14% or $985 to $6,219 for in a container of 40 feet. Similar to this, the cost of freight dropped by 12 percent (or $769) from $5,842 to $5,842 per feu between Shanghai from Shanghai to Genoa. The spot price also dropped by from $218 to $6,030 for a 40-foot container, which is 3 percent, between Shanghai from Shanghai to Los Angeles. Similar to that, the cost for 40-foot containers from Rotterdam to Shanghai as well as Shanghai from Shanghai to New York dropped by 2 percent to $8,451 and $61 in both cases. In addition, the spot rate decreased by 1 percent, which is $11, and dropped to $732 per feu for the journey between New York to Rotterdam.

In contrast it is worth noting that the price of the 40-foot container between Rotterdam from Rotterdam to New York went up by 16% or 304, or $2,212. In the same way, prices on spot for 40-foot containers between Los Angeles to Shanghai increased by 1% or four dollars. This week’s price increase was the slightest decrease in eastbound transpacific freight rates despite the likely occurrence of the possibility of an ILA port strike. Over the next couple of weeks, Drewry predicts a drop in the prices of Asia-Europe.


Spot freight prices by the major routes

An assessment across eight East-West trades:

For further information, click here.

Drewry Shipping Consultants Limited

Tel: +44 (0)207 538 0191

Email: [email protected]

www.drewry.co.uk

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Source: The Plantations International Agroforestry Group of Companies