Drewry expects spot freight rates to remain stable in the near future

Drewry expects spot freight rates to remain stable in the near future

Drewry's World Container Freight Index (WCI) fell 0.9% to US$6,657.20 per 40ft container for the week of May 12, 2022, compared with the week's figure before. Despite the drop, freight rates are still 33.7% higher than a year ago.

Source: World Container Index, Drewry Supply Chain Advisors

The WCI Average Rates Index updated by Drewry today, is $8,768/40ft container, $5,439 higher than the five-year average of $3,329/40ft container.

Meanwhile, freight rates on the Shanghai - Rotterdam route dropped 2% to $9,824/FEU. In addition, spot rates on the Shanghai-New York route dropped 3% to $10,926 per 40ft container. Similarly, rates on the Shanghai - Genoa route fell 1% to $11,736 and rates on the Rotterdam - Shanghai route fell to $1,430 per 40ft container.

Source: World Container Index, Drewry Supply Chain Advisors

However, freight rates on the Shanghai - Los Angeles and Los Angeles - Shanghai routes increased 1%, reaching $8,666 and $1,286/FEU, respectively.

In addition, freight rates on the Rotterdam - New York and New York - Rotterdam routes fluctuated around the levels of the previous weeks. Drewry expects spot rates to remain stable in the coming weeks.

Spot rates according to main shipping routes
 

Drewry freight rate data for eight major East-West shipping routes:

Source: Drewry Supply Chain Advisors

See more:

• Freight rates of container shipping contracts expected to increase in 2022
• Air freight demand decreased in March but freight rates remained high
• Container freight rates for long-term contracts increased by nearly 100% - Xeneta

Source: Phaata.com (According to ContainerNews)

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