Spot rates for shipping containers from Asia to key consumer markets continue to decline. From the 13th to the 17th calendar weeks (from the end of March), spot rates for Europe lost about 7%, rates for North America decreased faster: the sub-index for Pacific coast ports decreased by 11%, for the Atlantic – by 17%.
The value of the Drewry WCI spot index for the Shanghai-ports of Northern Europe route fell below the psychological mark of 3 thousand US dollars per FEU, Shanghai-Los Angeles - below 3.5 thousand, Shanghai–New York - below 4.5 thousand.
Nevertheless, rates remain well above the levels of early December, before a sharp jump caused by the threat of Houthi attacks on merchant ships in the Red Sea. For routes to Europe, the difference is about 2.5 times, for routes to U.S. ports – about 75%.
It is most likely that rates will continue to fall, as carriers are not making any visible efforts to limit supply and thus keep rates at current levels. According to Sea-Intelligence, capacity reductions through flight cancellations are at record lows.
