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Container spot rates have peaked as all major trades see prices fall
30 Jul, 2024

There was more evidence in this week’s container port freight markets that peak prices on the main east-west deepsea trades have passed.

All three major indices recorded single-digit declines on the back of lower utilisation of ships loading in Asia.

The most significant drops were seen on the transpacific Asia-North America route, where Drewry’s World Container Index (WCI) Shanghai-Los Angeles declined 5% week on week, to yesterday’s level of $6,934 per 40ft, while Xeneta’s transpacific XSI saw a 6% drop, to $7,322 per 40ft, and the Freightos FBX dropped 4%, to $7,738 per 40ft.

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