The reduction in container freight rates between China and Europe continued into the second week of January 2025. Data from the World Container Index, published by Drewry on 16 January, reveal that the rate from Shanghai to Genoa fell by 2% in one week to $5,086 per FEU (a 19% year-on-year decline). Meanwhile, the Shanghai-to-Rotterdam route saw a 3% decrease to $4,231, with an annual reduction of 15%. Conversely, in the opposite direction—from the Dutch port to China—the rate dropped by 1% to $518, representing a significant 47% year-on-year decline.
After a notable increase in previous weeks, freight rates from China to the United States reversed course in the second week of January, likely influenced by the labour agreement that averted a strike at US East Coast ports. The rate for a 40-foot container (FEU) from Shanghai to Los Angeles dropped by 5% to $5,228, though it remains 35% higher than the same period last year. Similarly, the Shanghai-to-New York rate fell by 4% to $6,825, but still stands 21% above last year’s level. In contrast, the cost of shipping a 40-foot container from Los Angeles to Shanghai rose by 1% over the week, reaching $725.
Another route bucking the downward trend is the transatlantic corridor between Rotterdam and New York. Here, freight rates increased by 4% in one week to $2,798 per FEU, bringing the annual growth rate to 86%. In the opposite direction, the rate held steady at $828, with a 36% annual increase. Drewry forecasts that the contraction in freight rates will continue in the short term, albeit at a slower pace, due to the rising availability of shipping capacity.
