LONDON – Ocean container prices fell 1% this week, a steeper drop than last week’s 0.6% decrease. Rates had fallen just 0.1% in the weeks before that.
The World Container Index tracking indicator from shipping analytics firm Drewry shows that rates fell to $7,502.43 per 40-foot container, still 8% higher than the same week in 2021. The index’s average for year-to-date is $8,524, which is $5,078 higher than the five-year average of $3,446.
Freight rates from Shanghai to Los Angeles fell 3% to $8,378. Rates from Shanghai to New York remained the same from last week at $10,695. Both routes are still up more than 30% from last year.
Drewry expects rates to continue to fall slowly over the coming weeks.
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Robert Dalheim, senior editor of case goods and global sourcing, has been writing about the woodworking industry and business news since 2015. He is a graduate of Northern Illinois University with degrees in journalism and political science. Contact Bobby at [email protected] or by calling (336) 605-3815.
