Following weeks of steady decline, average spot rates for container transport from China to Europe show a slight rebound in the third week of April 2024. According to weekly data released on April 25th by the Drewry World Container Index, the average rate from Shanghai to Genoa rised by one percent to $3,615 per feu, while the rate from Shanghai to Rotterdam rised by two percent to $3,056. In both cases, rates remain higher than those of the same week the previous year, by 65% and 92%, respectively.
However, this is the only recovery among the routes considered by Drewry, as the red arrow persists in other connections, starting with the one between Rotterdam and Shanghai, which decreased by 2% to $749 per feu. Remaining in the Dutch port, the rate to New York decreased by 3% to $2,214, while in the opposite direction, it remained stable ($624 compared to $626 the previous week).
Even in the United States, rates to China still show signs of weakening. The rate between Shanghai and Los Angeles dropped by 3% to $3,395, and in the reverse direction, it decreased by one percent to $700. The rate for a container from Shanghai to New York decreased by 2% to $4,369.
The Drewry composite index, which is the average of all surveyed routes, remains stable at $2,706 per feu, compared to $2,719 the previous week. Compared to the same period the previous year, the average rate has increased by 55%.
