The index was 67 per cent below the previous pandemic peak of $10,377 in September 2021 but was 143 per cent higher than the average of $1,420 in 2019 (pre-pandemic).
The average year-to-date composite index is $3,798 per 40-foot container, which is $924 higher than the 10-year average of $2,874 (inflated by the exceptional 2020–22 COVID period).
The freight rates from Shanghai to Rotterdam decreased by 19 per cent, or $797, to $3,434 per 40ft container, while those from Shanghai to Genoa fell by 10 per cent, or $524, to $4,562 per 40ft container. Similarly, rates from Shanghai to Los Angeles reduced by 8 per cent, or $415, to $4,813 per 40ft container, followed by rates from Shanghai to New York, which decreased by 7 per cent, or $448, to $6,377 per 40ft container.
Additionally, the rates from Rotterdam to Shanghai, Los Angeles to Shanghai, New York to Rotterdam, and Rotterdam to New York decreased by 1 per cent to $515, $721, $821, and $2,778 per 40ft container, respectively.
Drewry expects spot rates to decrease slightly in the coming week due to the Chinese Lunar New Year holidays.
ALCHEMPro News Desk (KUL)
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