Rates Still Slipping as Peak Season Recedes and Port Strike Threat Subsides

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Freight rates are continuing their downward correction following the premature peak season and front-loading of volumes, leaving shipping lines facing an underwhelming winter.

The Drewry World Container Index (WCI) last week continued its drastic downward trajectory, established in July, reaching $3,216 per FEU, demonstrating that Cape of Good Hope transits are now a matter of routine. New tonnage is constantly hitting the water and the decision of whether port workers on the U.S. east coast will strike again is delayed until January.

Read more in an article from The Loadstar.