As of mid-September 2024, the downward trend in average spot rates for container shipping continues, as reported by Drewry’s World Container Index. The weekly data, published on September 19, 2024, shows a decline across all routes departing from Shanghai: -9% for Rotterdam (with rates dropping below $5,000 per FEU, settling at $4,682), -6% for Genoa (also falling below $5,000, to $4,928), -4% for New York ($6,364), and -1% for Los Angeles ($5,580).
Rates for the reverse direction have remained mostly unchanged compared to the previous week, with rates from Rotterdam at $603 and from Los Angeles at $717. In contrast, transatlantic rates saw an upward trend, with a 2% increase from Rotterdam to New York ($2,056) and a 1% increase for the reverse route ($713). Drewry predicts that weak demand for shipping will continue to drive rates down in the coming weeks.
