After a brief reprieve during the second week of November 2024, marked by a drop reported on 14 November, spot freight rates for container shipping between China and Europe have started to rise again in the third week, albeit modestly. The latest figures from the World Container Index, released on 21 November by Drewry, show a weekly increase of 3% from Shanghai to Genoa, reaching $4,520 per FEU, and a 1% rise from Shanghai to Rotterdam, now at $4,071. In contrast, on the reverse route from Rotterdam to Shanghai, the downward trend continues, with a 1% decrease to $517. Transatlantic rates are also on the rise: up by 1% both from Rotterdam to New York and vice versa, with values reaching $2,672 and $793 per FEU, respectively.
Turning to North America, there is a 5% decrease in spot rates between Shanghai and Los Angeles, now at $4,488 per FEU, while rates on the return route remain largely unchanged at $723 (just $3 higher than the previous week). Rates between Shanghai and New York have also remained stable at $5,210 per FEU. The overall trend across the routes monitored by Drewry has led to a slight dip in the composite index: down 1% to $3,413. However, this value is still significantly higher, by 147%, compared to the same period in 2023. Drewry expects rates to remain stable in the coming week.
