Asia-Europe container shipping rates fell by 20 to 25% over the month

The value of the average weighted index of spot rates for container transportation Drewry WCI amounted to 3,500 dollars per 40-foot container during the 9th week.

The rates on the Asia-Europe routes dropped by nearly 300 dollars per FEU over a week. The subindex for routes to northern European ports dropped below 4,000 dollars per FEU and to Mediterranean ports, which were over 5,000 dollars per FEU just last week, below 4,800 dollars already.

The cost of delivery to ports on the Pacific coast of North America decreased by 200 dollars, reaching 4,500 dollars per FEU, and to the Atlantic coast by 150 dollars, reaching 5,800 dollars.

The increase in the voyage duration, which used to go through the Suez Canal, and now (because of the Houthi attacks on merchant ships in the Red Sea) are going around Africa, has not solved the problem of excessive supply in the world container shipping market. Following the December through January increase in rates, they started to decline. Over the month, since the end of January, the rates on routes from Asia to Europe have dropped by 20 to 25%.