The weekly survey of spot freight rates for maritime container transport conducted by Drewry for the first week of February shows a mix of green and red arrows, with the latter predominantly affecting European destinations. This confirms the downturn registered since mid-January 2024. The Drewry Container Index of February 8th reveals a significant decrease (of 11%) in the average freight rate between Shanghai and Genoa, settling at $6,225 per 40-foot container. This marks a decrease of nearly a thousand dollars compared to the January 25th figure. The Shanghai to Rotterdam route experienced a smaller, yet noteworthy, decrease of 5% to $4,426 (down from $4,984 on January 25th).
Conversely, freight rates in the opposite direction, from Rotterdam to Shanghai, have increased by 3% to $990 (still less than the $1,028 recorded on January 25th). Staying in the Dutch port, the average spot freight rate to New-York has surged by 24% to $1,978, while the rate in the opposite direction has fallen by 4% to $611. Freight rates are also rising on routes between Asia and the United States: up 8% (to $4,771) for Shanghai to Los Angeles and up 2% (to $6,268) for Shanghai to New York. The only rate experiencing a decrease is from Los Angeles to Shanghai, with a 1% drop to $726. The composite index, covering all ports considered by Drewry, has decreased by 1% to $3,786.
