The downward trend of containership freight rates continues for another week, with spot rates falling for the third consecutive week.
Specifically, Drewry’s World Container Index (WCI) was set at $/FEU as of November 27, recording a 2% drop compared to the previous week.
The annual decline amounts to 45.8%. This price is near the lowest levels of the year, when on October 9 the index had been set at $/FEU.
Regarding specific routes, spot rates decreased on all major trade routes with the only exceptions being the New York-Rotterdam route (+2%), and the Rotterdam-New York route (1%), where they saw a small increase. At the same time, rates for the Los Angeles-Shanghai route remained stable, while the largest weekly drop was recorded on the Shanghai-New York line.
Drewry estimates that if transits through the Suez Canal continue normally, the available transport capacity will increase, a development that will lead to a drop in freight rates.
