The index remained 80 per cent below the pandemic peak of $10,377 in September 2021. However, it was 47 per cent higher than the pre-pandemic average of $1,420 in 2019, according to the weekly report.
The average year-to-date (YTD) composite index stood at $2,811 per 40-foot container, which is $82 lower than the 10-year average of $2,893 (inflated by the exceptional 2020–22 COVID period).
Freight rates from Shanghai to Rotterdam decreased by 5 per cent, or $110, to $2,202 per 40-foot container. Rates from Rotterdam to Shanghai and Shanghai to Genoa declined by 4 per cent to $464 and $2,889 per 40-foot container, respectively.
Continuing the trend, rates from Shanghai to New York and Rotterdam to New York fell by 3 per cent to $3,500 and $2,041 per 40-foot container, respectively. Rates from Los Angeles to Shanghai dropped by 2 per cent, or $16, to $689 per 40-foot container, while rates from Shanghai to Los Angeles decreased by 1 per cent, or $27, to $2,590 per 40-foot container. Meanwhile, rates from New York to Rotterdam rose by 2 per cent, or $17, to $842 per 40-foot container.
Drewry expects rates to continue declining in the coming week due to ongoing uncertainty stemming from reciprocal tariffs.
ALCHEMPro News Desk (KUL)
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