Backhaul rates from northern Europe to Asia continued to decline in the week of May 9, according to the latest release of the World Container Index. Rates have fallen the past three weeks, down 3.5 percent or $38 in total.
The Europe-to-Asia eastbound rate from Rotterdam to Shanghai slipped roughly 2 percent or $20 to $1,053 per 40-foot container from the week before. Despite the drop, the current rate remains up 12.5 percent or $117 since the beginning of the year and up 43 percent year-over-year.
The trans-Pacific westbound rate from Los Angeles to Shanghai was flat this week, at $919 per FEU. Rates in this lane have been flat or down for the past five weeks. The current rate stayed 5.1 percent or $45 higher than it was at the beginning of the year and 8.5 percent higher than it was at the same point a year ago.