Container rates down for second straight week

Drewry’s World Container Index (WCI) fell two per cent to US$2,157 per 40-ft container the week of April 21-25, the second straight week of declines.

The Drewry WCI composite index is now 79 per cent below the previous pandemic peak of US$10,377 in September 2021, but is 52 per cent higher than the average US$1,420 in 2019.

The average year-to-date composite index closed at US$2,854 per 40-ft container, US$38 lower than the 10-year average of US$2,891, which was inflated by the 2020-22 COVID-19 period.

Freight rates from Shanghai to New York decreased three per cent to US$3,611 per 40-ft container and those from Shanghai to Los Angeles and Rotterdam to Shanghai dropped two per cent to US$2,617 and US$481 respectively. Rates from Shanghai to Rotterdam and Rotterdam to New York fell one per cent to US$2,312 and US$2,109 per 40-ft container, respectively, whereas those from New York to Rotterdam increased one per cent to US$825 per 40-ft container.

Rates from Shanghai to Genoa and Los Angeles to Shanghai remained stable.

Drewry expects rates to continue to decline in the coming week due to uncertainty stemming from reciprocal tariffs.