No reversal in sight for spot container shipping rates, which continued to decline in mid-October 2024, according to the World Container Index data released by Drewry on October 17. The most significant drop, in percentage terms, was seen on the Shanghai-Genoa route, with a decrease of $346 per FEU (-9%), bringing the rate to $3,438. The rate between Shanghai and Rotterdam also saw a notable decline, falling by $218 (-6%) to $3,373. In contrast, the rate from Rotterdam to Shanghai saw a slight increase, rising by $4 (+1%) to $547 per 40-foot container.
Trans-Pacific routes also experienced declines: the Shanghai-New York rate dropped by $152 (-3%), reaching $5,609 per FEU, while the Shanghai-Los Angeles rate fell by $78 (-2%), settling at $4,941. Rates on the Los Angeles-Shanghai, New York-Rotterdam, and Rotterdam-New York routes remained stable.
