Backhaul rates dropped from both northern Europe and the U.S. West Coast to Asia in the week of May 2, according to the latest release of the World Container Index.
The Europe-to-Asia eastbound rate from Rotterdam to Shanghai inched down 0.4 percent or $4 to $1,073 per 40-foot container. This is the second consecutive week of decline in this lane. There have not been two or more consecutively declining weeks in this lane since May 24 and 31 in 2012. Despite the drop, the current rate is up 14.6 percent or $137 since the beginning of the year and up 69 percent year-over-year.
The trans-Pacific westbound rate from Los Angeles to Shanghai fell to $919 per FEU in the week of May 2, down 3.4 percent or $32 from the week before. The current rate is 5.1 percent or $45 higher than it was at the beginning of the year and 8 percent higher than it was at the same point a year ago.