LONDON – Ocean container prices fell 1% this week, a steeper drop than last week’s 0.6% decrease. Rates had fallen just 0.1% in the weeks before that.
The World Container Index tracking indicator from shipping analytics firm Drewry shows that rates fell to $7,502.43 per 40-foot container, still 8% higher than the same week in 2021. The index’s average for year-to-date is $8,524, which is $5,078 higher than the five-year average of $3,446.
Freight rates from Shanghai to Los Angeles fell 3% to $8,378. Rates from Shanghai to New York remained the same from last week at $10,695. Both routes are still up more than 30% from last year.
Drewry expects rates to continue to fall slowly over the coming weeks.
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@example.com or by calling (336) 605-3815.
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