According to the weekly report, the index remains 79 per cent below the pandemic peak of $10,377 recorded in September 2021. However, it is still 52 per cent higher than the pre-pandemic average of $1,420 in 2019.
The year-to-date (YTD) average composite index stood at $2,854 per 40ft container, $38 higher than the 10-year average of $2,891 (which includes the exceptionally high rates during the 2020–2022 COVID period).
Freight rates from Shanghai to New York decreased by 3 per cent, or $95, to $3,611 per 40ft container. Rates from Shanghai to Los Angeles and Rotterdam to Shanghai fell by 2 per cent to $2,617 and $481 per 40ft container, respectively.
Similarly, rates from Shanghai to Rotterdam and Rotterdam to New York declined by 1 per cent to $2,312 and $2,109 per 40ft container, respectively, while rates from New York to Rotterdam increased by 1 per cent, or $8, to $825 per 40ft container. Meanwhile, rates from Shanghai to Genoa and Los Angeles to Shanghai remained stable.
Drewry expects rates to continue to decline in the coming week amid ongoing uncertainty stemming from reciprocal tariffs.
ALCHEMPro News Desk (KUL)
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