Trans-Atlantic westbound rates declined again this week at an accelerated rate, moving to a new low of $2,027, according to the latest release of the World Container Index. Rates have been flat or declining for the past 10 weeks.
Rates from Rotterdam to New York dropped more than 3 percent or $64 per 40-foot container from last week. During the past 10 weeks, rates have declined 17.3 percent or $424. The current rate is down 24 percent year-over-year and 17 percent or $416 from the beginning of 2013.
The eastbound rate from New York to Rotterdam held flat at $1,603 per FEU in the week of May 16. The rate remained down 17.4 percent or $337 from the beginning of 2013 and was down 23 percent since the same week in 2012. The past 11 weeks have seen year-over-year drops, with the three most recent weeks seeing accelerated declines.