In the second week of December 2024, the spot rates for container shipping showed divergent trends between Europe and the United States. According to data from the World Container Index, released by Drewry on 19 December 2024, rates on the routes between Shanghai and the European ports of Genoa and Rotterdam both recorded declines. The rate to the Italian port dropped by 2% in one week, settling at $5,424 per FEU, while the rate to the Dutch port fell by 1%, reaching $4,819 per FEU. On the reverse route, from Rotterdam to Shanghai, a 2% drop was also observed, bringing the spot rate down to $508.
The trans-Pacific scenario, however, painted a completely different picture. The rate for an FEU from Shanghai to Los Angeles soared by 26% to $4,499, nearly $1,000 more than the previous week. There was also significant growth—albeit less dramatic—in rates from Shanghai to New York, which rose by 17% to exceed $6,000 ($6,074 per FEU). Notably, this surge pertains solely to westbound shipments, as the rate from Los Angeles to Shanghai remained stable at $726 per FEU.
Relative calm prevailed on the transatlantic route. The rate from Rotterdam to New York increased by 3% to $2,713 per FEU, while the eastbound rate in the opposite direction decreased by 1%, standing at $824 per FEU. Drewry anticipates further increases in rates between China and the United States, driven by two key events: the inauguration of President Trump and the potential strike at East Coast ports.
