Freight rates on many routes dropped! US East Routes fell by more than 10%
On September 14, Drewry released the latest global container freight index (WCI), which fell 7.1% this week to an average freight rate of US,561.30 per 40-foot container, which has been declining for four consecutive weeks.
The latest Drewry WCI composite index is US,561.30 per 40-foot container, currently 85% lower than the peak of US,377 reached in September 2021, and down 68.4% from the same period last year.
That’s 42% below the 10-year average of ,680, indicating a return to normal prices, but still 10% higher than the pre-pandemic 2019 average rate of ,420.
Among them, the freight rate from Shanghai to New York (US East Line) dropped by 11%, or US6, to US,032/FEU.
The freight rate from Shanghai to Rotterdam (European route) dropped by 10% to US,299/FEU.
The freight rate from Shanghai to Genoa (Mediterranean route) also dropped by 10% to US,698/FEU.
The freight rate from Shanghai to Los Angeles (US West Line) fell by 4%, or US, to US,162/FEU.
Drewry expects spot freight rates on the east-west trade routes to generally maintain current levels in the coming weeks.