The trend of average spot freight rates for maritime container transport remained largely stable in the last week of July 2024, according to the Drewry World Container Index published on August 1. In Europe, the weekly differences in shipping costs for a 40-foot container ranged from a drop of $35 on the Shanghai-Genoa route (to $7,610) to a decrease of $60 on the Shanghai-Rotterdam route (to $8,200).
In the opposite direction, Rotterdam-Shanghai, the average rate was $626 per FEU, a decrease of $1 from the previous week. The transatlantic rate between Rotterdam and New York also remained stable, decreasing by $9 per FEU (to $1,945), while the rate in the opposite direction increased by $32 (+4%), reaching $768.
On transpacific routes, a 3% reduction emerged between Shanghai and Los Angeles, bringing the average spot rate to $6,740 per FEU, while in the opposite direction, it increased by $1 to $707. The rate between Shanghai and New York also fell by 1%, reaching $9,166 per FEU.
Looking at the annual change, as of August 1, 2024, the only decrease was recorded on the Los Angeles-Shanghai route (-16%), while the largest percentage increase was on the Shanghai-Rotterdam route (+406%). There was also a significant increase between Shanghai and Genoa: +268%. Other notable annual increases include Shanghai to Los Angeles (+190%) and Shanghai to New York (+175%).
The composite index, which integrates all routes considered by the Drewry World Container Index, stood at $5,736 per FEU on August 1, showing a 1% decline compared to the previous week and an annual increase of 226%.
