For the year-to-date, the composite index closed at $2,773 per container, which is $122 below the 10-year average of $2,895. The elevated levels during 2020-2022, driven by COVID-19 disruptions, have inflated the baseline, and current figures suggest a gradual return to more normal conditions.

Regional freight rates show mixed movements. From Shanghai to Rotterdam, rates decreased 7% or $156 to $2,046 per 40ft container, while rates from Shanghai to Genoa fell 4% or $123 to $2,766. Ports connecting North America and Europe also saw declines: from New York to Rotterdam and vice versa, rates dropped 3% to $814 and $1,972, respectively. In Asia, rates from Rotterdam to Shanghai decreased 2% or $7 to $457. Conversely, rates from Shanghai to Los Angeles increased 5% or $123 to $2,713, and from Shanghai to New York rose 4% or $146 to $3,646. Freight from Los Angeles to Shanghai grew by 2%, reaching $706.

Industry experts expect freight rates to stabilize further with less volatility in the coming week, as carriers are adjusting their capacity in response to declining cargo volumes from China. This capacity rebalancing aims to prevent oversupply as trade flows shift and demand remains uncertain. The market’s current trend suggests rates may continue to decline or plateau as supply and demand find a new equilibrium, with ongoing trade tensions and shifting global trade routes influencing future patterns.

The redirection of cargo away from traditional routes, along with capacity management by carriers, is expected to shape shipping costs and port congestion in the months ahead. Industry stakeholders are closely monitoring these developments, as they will impact global trade, port operations, and shipping rates going forward.


Data from Drewry.UK