The World Container Index data, shared by Drewry on 23 January 2025, reveal a uniform downward trend in average spot rates for container shipping, with the China-Europe routes witnessing the most significant decreases. The cost of shipping a 40-foot container from Shanghai to Rotterdam plummeted by 19% in just one week, falling below the $4,000 threshold to $3,340 - a 31% year-on-year decline. Meanwhile, rates from Shanghai to Genoa dropped by 10%, bringing the price per TEU to $4,562, reflecting an annual decrease of 28%. Conversely, the westbound rate from Rotterdam to Shanghai saw a modest decline of $3, settling at $515 per FEU.
Transatlantic routes experienced much smaller rate reductions, with spot rates dipping by 1% in both directions. Westbound rates from Rotterdam to New York now stand at $2,778 per FEU, while eastbound rates to Shanghai are at $821. Transpacific routes exhibited intermediate trends: the Shanghai to Los Angeles rate fell 8% in one week to $4,813 per FEU, while the Shanghai to New York rate declined by 7% to $6,377.
Drewry forecasts a slight further decline in spot rates next week, coinciding with Chinese Lunar New Year celebrations. In the medium term, the outlook remains uncertain for the Red Sea corridor. Analysts suggest that if container ships resume navigating the Suez Canal route, an oversupply of capacity could emerge, potentially driving container shipping rates between Asia and Europe even lower.
