Global Freight Rate Update, December 12, 2024

According to Drewry, spot freight rates mostly edged up this week, while the China–US West Coast and Europe–US East Coast routes experienced declines.

The Drewry WCI composite index remained stable at $3,529 per feu, which is 66% below the previous pandemic peak of $10,377 in September 2021 but 148% more than the average $1,420 in 2019 (pre-pandemic). The average YTD composite index is $3,949 per feu, which is $1,091 higher than the 10-year average of $2,858 (inflated by the exceptional 2020-22 Covid period).

Freight rates from New York to Rotterdam increased 3% or $23 to $830 per feu and those from Shanghai to Rotterdam increased 2% or $80 to $4,855 per feu.

Likewise, rates from Rotterdam to Shanghai, Shanghai to Genoa, Los Angeles to Shanghai and Shanghai to New York inched up 1% to $520, $5,526, $726 and $5,199 per feu, respectively.

On the other hand, rates from Shanghai to Los Angeles decreased 4% or $137 to $3,582 per feu and those from Rotterdam to New York shrank 1% or $27 to $2,622 per feu.

Drewry expects spot rates to remain stable next week.

From	To	Freight (USD/40’ container)	Weekly Change (%)	Yearly Change (%)
China	Northwest Europe	4,855	2%	237%
US East Coast	Northwest Europe	830	3%	40%
China	South Europe	5,526	1%	226%

   

From	To	Freight (USD/40’ container)	Weekly Change (%)	Yearly Change (%)
China	US West Coast	3,582	-4%	80%
China	US East Coast	5,199	1%	82%
Northwest Europe	US East Coast	2,622	-1%	74%

   

From	To	Freight (USD/40’ container)	Weekly Change (%)	Yearly Change (%)
Northwest Europe	China	520	1%	15%
US West Coast	China	726	1%	-6%

   The abovementioned freight rates per container are effective as of December 12, 2024 and contain all applicable costs such as bunker adjustment fees (baf) and currency adjustment fees (caf).