DREWRY’S World Container Index decreased 3% this week to US$2719 per 40-foot container.

Compared with the same week last year, the composite index has increased by 53%.

The figure is now 91% higher than the average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year-to-date is US$3295 per 40-foot container, which is US$586 higher than the 10-year average rate of US$2709, which was inflated by the exceptional 2020-22 covid period.

Freight rates from Shanghai to New York decreased 5% or US$257 to US$4453 per 40-foot container.

Similarly, rates from Shanghai to Los Angeles dropped 4% or US$147 to US$3487 per 40-foot box.

Likewise, rates on Shanghai to Rotterdam and Shanghai to Genoa declined 2% to US$2989 and US$3577 per FEU respectively.

Conversely, rates from Rotterdam to New York increased by 3% or US$67 to US$2291 per 40-foot container.

Also rates from Los Angeles to Shanghai increased 2% or US$15 to US$708 per FEU, while rates from Rotterdam to Shanghai and New York to Rotterdam remained stable.

Drewry expects a minor decrease in spot rates in the coming week.