Drewry: Container Rates Rise 3%, Ending 13 Weeks of Decline
Drewry’s World Container Index ended 13 weeks of decline, rising 3% to $4,485 per 40-foot container, with gains on six out of eight routes.
Drewry’s World Container Index ended 13 consecutive weeks of decline, rising 3% to $4,485 per standard 40-foot container in week 42.
Six out of eight major routes recorded gains during the week, according to the World Ports Organization.
On the Shanghai to Rotterdam route, rates rose 6% to $3,522, on Shanghai to Genoa by 7% to $3,945, and on Shanghai to Los Angeles by 3% to $7,884.
Conversely, rates on the Shanghai to New York route fell 1% to $10,075, and the Rotterdam to New York route dropped 1% to $3,075.
What do these terms mean?
Drewry Index: An index published by shipping consultancy Drewry that measures average weekly container freight rates on major maritime routes.
40-foot Container (FEU): A common unit of measurement in shipping, equivalent to a 40-foot-long container used as a reference for freight pricing.
Shipping Route: A regular maritime line connecting two ports or regions, upon which freight is priced.
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