Container rates down four per cent

Drewry’s World Container Index (WCI) decreased four per cent to US$2,168 per 40-ft container for the week of March 24-28, continuing a steady decline since the beginning of January.

The Drewry WCI composite index is now 79 per cent below the previous pandemic peak of US$10,377 in September 2021 and the lowest since January 2024. However, the index is 53 per cent higher than the average US$1,420 in 2019.

The average year-to-date composite index closed at US$3,053 per 40-ft container, US$167 higher than the 10-year average of US$2,886, which was inflated by the COVID-19 period.

Freight rates from Rotterdam to New York dropped seven per cent to US$2,162 per 40-ft container and those from Shanghai to Los Angeles fell six per cent to US$2,487. Rates from Shanghai to Rotterdam and Shanghai to New York decreased four per cent to US$2,370 and US$3,622 per 40-ft container, respectively, while those from Shanghai to Genoa dropped three per cent to US$3,171.

Conversely, rates from Rotterdam to Shanghai increased three per cent to US$500 per 40-ft container and those from Los Angeles to Shanghai were up one per cent to US$709.

Rates from New York to Rotterdam remained stable.

Drewry expects rates to decrease slightly in the upcoming weeks.