According to the weekly report, the index is 78 per cent below its pandemic peak of $10,377 in September 2021 and at its lowest since January 2024. However, it is still 59 per cent higher than the pre-pandemic average of $1,420 in 2019.
The average year-to-date (YTD) composite index stood at $3,127 per 40-foot container, which is $242 higher than the 10-year average of $2,885 (inflated by the exceptional COVID period of 2020–22).
Freight rates from Shanghai to Los Angeles dropped by 9 per cent or $248 to $2,658 per 40-foot container, while rates from Shanghai to New York fell by 7 per cent or $264 to $3,774 per 40-foot container. Similarly, rates from Shanghai to Rotterdam and from Rotterdam to New York decreased by 2 per cent to $2,463 and $2,316 per 40-foot container, respectively. Rates from Rotterdam to Shanghai, New York to Rotterdam, and Shanghai to Genoa declined by 1 per cent to $484, $846, and $3,286 per 40-foot container, respectively.
Meanwhile, rates from Los Angeles to Shanghai remained stable. Drewry expects rates to decrease slightly in the coming weeks.
ALCHEMPro News Desk (KUL)
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