CONTAINER spot rates across all eight major east-west trade routes declined by a combined eight per cent last week compared to the previous week, representing a year-on-year decline of 14 per cent, according to Drewry's World Container Index (WCI).
At US$1,415 per FEU, the WCI was also down $52 compared with the index's five-year average, reported American Shipper.
The price to transport one 20-foot standard container from Shanghai to Rotterdam dropped to $1,391 per FEU recently, a decrease of eight per cent year on year. Rates from Shanghai to Genoa fell by eight per cent from the previous year to $1,213 per FEU.
Transpacific rates took the biggest hit, with rates from Shanghai to Los Angeles plummeting 19 per cent to $1,045 per FEU, while Shanghai-New York rates dropped 25 per cent to $2,019 per FEU.
Rates on the transatlantic trade, however, were the lone bright spot for the WCI. At $2,070 per FEU rates between Rotterdam and New York remained unchanged from the w
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