The year-to-date composite index has closed at $2,897 per 40-foot container, slightly surpassing the 10-year average of $2,890, which has been influenced by the exceptional rates observed during the COVID-19 period from 2020 to 2022.

Freight rates from Shanghai to key destinations have also seen notable changes. Rates from Shanghai to New York decreased by 7%, or $270, bringing the total to $3,706 per 40-foot container. Similarly, rates from Shanghai to Los Angeles dropped 5%, or $132, to $2,683 per container. Rates from Shanghai to Rotterdam and Shanghai to Genoa both experienced a 2% decline, settling at $2,344 and $3,018 per 40-foot container, respectively.

On routes from New York to Rotterdam and Rotterdam to New York, rates shrank by 1%, now standing at $817 and $2,129 per 40-foot container, respectively. In contrast, the rate from Rotterdam to Shanghai saw a slight increase of 4%, or $18, reaching $493 per container. Rates from Los Angeles to Shanghai remained stable during this period.

Drewry projects that freight rates are likely to continue their downward trend in the coming week, citing reduced capacity and ongoing uncertainty stemming from tariff changes as contributing factors. The shipping industry remains vigilant as these fluctuations could impact overall logistics and supply chain dynamics in the months ahead.