According to the latest weekly report from the World Container Index, published by Drewry on 9 January 2025, average spot freight rates for maritime container transport from China to Europe fell significantly. The most substantial percentage decrease was recorded on the Shanghai-Rotterdam route, with rates down by 8%, reaching $4,375 per FEU. A more modest decline of 4% was observed on the Shanghai-Genoa route, where rates settled at $5,210 per FEU. Over the entirety of 2024, compared to the previous year, the situation appears stable: rates between Shanghai and Rotterdam dropped by 1%, while those between Shanghai and Genoa remained unchanged. Conversely, rates for the reverse route (Rotterdam to Shanghai) rose by 1% over the week to $522 per FEU, though they showed an annual decline of 20%.
Transatlantic routes remained relatively stable, with a 1% dip in spot rates between Rotterdam and New York. Westbound rates now stand at $2,698 per FEU, while eastbound rates are at $828. However, the year-on-year comparison between 2024 and 2023 reveals a significant increase: +78% westbound and +38% eastbound.
Container freight rates remained robust on Pacific routes at the end of 2024, with double-digit percentage increases. Rates rose by 13% between Shanghai and Los Angeles, reaching $5,476 per FEU, and by 10% between Shanghai and New York, surpassing the $7,000 threshold at $7,085 per FEU. On an annual basis, the increases were +96% and +70%, respectively. These trends were likely influenced by the announcement of a strike by East Coast and Gulf Coast port workers, prompting operators to expedite shipments. The agreement reached on 8 January 2025 between unions and employers could cool the situation in North America. However, uncertainty lingers over potential tariff hikes by President Trump, which may take effect shortly after his inauguration
