London – Ocean container rates fell 3% this week to $6,430 per 40-foot container. This is the 24th consecutive weekly drop.
According to the World Container Index tracking indicator from shipping analyst Drewry, rates are down 32% over the same week in 2021. Rates are also down 38% from the peak of $10,3777 seen in September 2021.
The average composite index for the year-to-date is $8,113, which is $4,500 higher than the five-year average of $3,613.
Rates from Shanghai to Los Angeles fell 2% to $6,834. Numbers from Shanghai to New York are much higher at $9,749, though even that number is down 28% over last year.
Drewry expects the index to decrease in the next few weeks.
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Robert Dalheim, senior editor of case goods and global sourcing, has been writing about the woodworking industry and business news since 2015. He is a graduate of Northern Illinois University with degrees in journalism and political science. Contact Bobby at [email protected] or by calling (336) 605-3815.
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