Backhaul rates from northern Europe and the U.S. West Coast continued to dip this week, according to the latest release of the World Container Index. The reported westbound increase from last week was revised by WCI to a 2.3 percent week-to-week drop.
The trans-Pacific westbound rate from Los Angeles to Shanghai remained at $898 per 40-foot container in the week of May 23, after falling $21 the week prior. This extends the count to seven weeks without an increase in rates for this lane. The current rate is 2.7 percent or $24 higher than it was at the beginning of the year and 6 percent higher than it was at the same point a year ago.
The Europe-to-Asia eastbound rate from Rotterdam to Shanghai edged down 0.1 percent or $1 this week to $1,021 per FEU. This is the fifth straight week of declines in this lane, down a total of 6.4 percent or $70 during the five-week span. Despite the slump, the current rate is up 9.1 percent or $85 since the beginning of the year and up 16.4 percent year-over-year.