Drewry’s World Container Index decreased 3% to $2,350 per 40ft container last week, marking the ninth consecutive week of decline as the market continues to stabilize following months of extreme volatility.
The container shipping market has experienced significant turbulence since U.S. tariffs were announced in April, with rates surging from May through early June before a sharp decline until mid-July. Recently, the downward trend has lost momentum as the rate of decrease slowed considerably.
Transpacific routes showed particular weakness last week, with Shanghai–Los Angeles rates falling 2% to $2,494 per FEU and Shanghai–New York dropping 5% to $3,638 per FEU.
Read more in an article from gCaptain.