THE spike in spot container freight rates has flattened off over the last week, according to UK's Seatrade Maritime News.
The Drewry World Container Index (WCI,) which has been seeing double-digit percentage weekly increases recently, was up just 1 per cent over the previous week on July 11 at US$5,901 per FEU.
The Shanghai Containerized Freight Index (SCFI) slid 1 per cent to 3674.86 points on July 12 compared to July 5 levels.
The question now will be whether increases are simply taking a breather, or this represents a levelling off of container spot rates.
While container spot freight rates are at extremely elevated levels, they are still well below the highest levels seen during the pandemic.
Drewry's WCI is some 43 per cent lower than its peak of $10,377 per FEU in September 2021.
Generally, analysts think it is unlikely that rates will reach the highest levels that were seen during Covid.
Signs have not particularly positive last week though with severe storms off South Africa bringing to a halt containerships transiting via the Cape of Good Hope to avoid Houthi attacks in the Red Sea.
Looking ahead Drewry commented: 'Drewry expects freight rates to remain high until the end of the peak season.'
SeaNews Turkey
The Drewry World Container Index (WCI,) which has been seeing double-digit percentage weekly increases recently, was up just 1 per cent over the previous week on July 11 at US$5,901 per FEU.
The Shanghai Containerized Freight Index (SCFI) slid 1 per cent to 3674.86 points on July 12 compared to July 5 levels.
The question now will be whether increases are simply taking a breather, or this represents a levelling off of container spot rates.
While container spot freight rates are at extremely elevated levels, they are still well below the highest levels seen during the pandemic.
Drewry's WCI is some 43 per cent lower than its peak of $10,377 per FEU in September 2021.
Generally, analysts think it is unlikely that rates will reach the highest levels that were seen during Covid.
Signs have not particularly positive last week though with severe storms off South Africa bringing to a halt containerships transiting via the Cape of Good Hope to avoid Houthi attacks in the Red Sea.
Looking ahead Drewry commented: 'Drewry expects freight rates to remain high until the end of the peak season.'
SeaNews Turkey
