Container freight rates stabalise after 22 weeks of increases

Photo: Rahita Elias cma-cgm-riv.jpg
A fully laden 23,000 teu CMA CGM containership at berth in Singapore
Container freight rates have stabilised after 22 consecutive weeks of rises based on Drewry’s World Container Index (WCI).

The WCI published on 23 September remained steady at $10,377.19 per feu, the same level as the week before, however, up 299% year-on-year.

“This comes following the announcement by CMA-CGM and Hapag-Lloyd to put a halt in increment of spot rates as container prices on most trade lanes are at record highs,” Drewry commented.

For Shanghai – Los Angeles the rate remained flat at $12,424 per feu, while Shanghai – Rotterdam saw a marginal $62 increase to $14,356 per feu.

Drewry said that year-to-date the WCI was up $6,888 per feu.

Looking ahead it said: “Drewry expects rates to remain steady in the coming week.”

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