The Drewry World Container Index (WCI) and the Shanghai Containerized Freight Index (SCFI) have declined 8% over the past week.
SCFI dropped 236.8 points to 2726.58 points on September 6 to a level 8% lower than the previous week, while Drewry’s WCI also declined 8% to $4 775 per forty-foot equivalent unit (FEU) on September 5.
According to Drewry, trades between Asia and Europe/Mediterranean drove the rates decline. These routes were affected by the disruptions in the Red Sea and the Suez Canal which led to vessels having to travel via the Cape of Good Hope, while congestion at key ports was also a factor.
Rates for Shanghai to Rotterdam decreased 14% to $6 219 per FEU, while Shanghai to Genoa dropped 12% to $5 842.
According to Drewry, Asia-Europe rates are expected to continue declining in the coming weeks.
Rates on the Transpacific Shanghai to Los Angeles route declined 3% or $218 to $6 030 per FEU.
However, rates westbound on the Transatlantic experienced a marked increase in rates ahead of a potential US East Coast port strike. Rates for Rotterdam to New York rose 16% or $304 to $2 212 per FEU.
