World Container Index

Container rate prices declining

Ocean container rates fell three per cent overall this week to US$7,285 per 40-foot container, according to the World Container Index from shipping analytics firm Drewry. Last week rates fell by one per cent, and in the weeks before that by 0.6 and 0.1 per cent.

Jul 01 2022

Of even greater significance, rates from Shanghai to Los Angeles fell five per cent to US$7,952. This is the largest weekly decline since March. Last week, rates fell only three per cent.

Comparison to last year

Compared to the same week in 2021, this is actually a ten per cent drop. Compared to last year, rates were up eight per cent the previous week. Rates from Shanghai to New York fell by three per cent to 10,403 US dollars per container. Rates from Los Angeles to Shanghai were up two per cent. Drewry expects rates to fall further in the coming weeks.

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