Drewry expects spot rates to remain stable in the near future

Date Added: 18 May 2022

Drewry expects spot rates to remain stable in the near future

Drewry’s composite World Container Index decreased by 0.9% to USD7,657.20 per 40ft container the week of 12 May 2022, compared with the previous week's figure. Despite the fall though, it remains 33.7% higher than a year ago.

With a comprehensive portfolio of ocean freight forwarding services around the globe, Davies Turner notes that the average composite index of the World Container Index (WCI), assessed by Drewry for year-to-date, is USD8,768 per 40ft container, which is USD5,439 higher than the five-year average of USD3,329 per 40ft container.

Meanwhile, freight rates on Shanghai – Rotterdam dropped 2% to USD9,824 per feu. Additionally, spot rates on Shanghai – New York fell 3% to USD10,926 per 40ft box. Similarly, rates on Shanghai – Genoa dipped 1% to USD11,736 and rates on Rotterdam – Shanghai fell to USD1,430 per 40ft container.

However, rates on Shanghai – Los Angeles and Los Angeles – Shanghai gained 1% each to reach USD8,666 and USD1,286 per feu, respectively.

Moreover, rates on Rotterdam – New York and New York – Rotterdam hovered around the previous weeks' levels. Drewry expects spot rates to remain stable in the coming weeks.

For more information about Davies Turner’s ocean freight forwarding and logistics services, please contact ocean@daviesturner.co.uk or visit https://www.daviesturner.com/ocean

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