The ongoing decrease in spot freight rates for container maritime transport is observed, though the percentage is diminishing, indicating a potential stabilization after the spike caused by the Red Sea crisis at the end of 2023 and the beginning of 2024. Weekly observations from the Drewry Container Index show declining values on almost all routes, with the exception of transatlantic freights which remain on the rise. The average rate for a 40-foot container from Shanghai to Genoa fell by one percent over a week to $5,173, still double compared to the same period in 2023.
Moving to Rotterdam, the average freight rate for a container from Shanghai dropped by 3% to $4,288, and a similar decrease was noted for the return journey (to $958). However, the freight rate for the route to and from New York increases significantly: by 10% westbound (rising above two thousand dollars, to $2,173) and by 2% eastbound (to $623). Transpacific freights are also cooling down: the rate between Shanghai and Los Angeles remains stable at $4,754, the reverse direction decreases by 2% to $709, and the rate from Shanghai to New York drops by 2% to $6,170.
