London – Spot container charges rose a median of 11.8% this previous week to $1,761 per 40-foot container, marking a fourth consecutive weekly improve.
In line with Drewry’s World Container Index monitoring indicator, spot charges from Shanghai to Los Angeles rose 11% this week to $2,322. Final week, charges rose 6%, and the weeks earlier than that, 10% and 9.2%. In 4 weeks, that’s a couple of 36% improve.
Like Los Angeles, spot charges from Shanghai to New York are additionally seeing weekly beneficial properties. They rose 9% this week to $3,330 per 40-foot container. Over the previous 4 weeks, charges are up 26%.
Total, charges are 73.4% decrease than they have been the identical week final 12 months and are down 83% from the height of $10,377 seen in Sept. 2021. Charges stay 24% larger than the 2019 pre-pandemic common of $1,420. Earlier than these previous 4 weeks, charges had been steadily falling.
Drewry expects East-West spot charges to be “steady” within the subsequent few weeks. Long run, it expects mixed spot and contract charges to fall by a 3rd in 2024.
“Weak demand, over-capacity, and predatory pricing by some carriers is the rationale behind our expectation for decrease charges,” stated Simon Heaney, Drewry’s senior supervisor of container analysis.
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