Trans-Pacific westbound rates from Los Angeles to Shanghai saw their steepest drop since Feb. 2012 in the week of Sept. 5, according to the latest release of the World Container Index.
The U.S.-to-Asia westbound rate from LA to Shanghai declined 11.1 percent or $99 per 40-foot container, putting it at $790 per FEU, its lowest level in 80 weeks. This week’s drop followed a less significant decline in the week of Aug. 22 of roughly 5 percent or $46. The current rate is down 9.6 percent or $84 from the beginning of the year and down 6.6 percent year-over-year.
For the week of Sept. 6, eastbound rates from Rotterdam to Shanghai increased 1.3 percent or $11 to $864. The rate has bounced around recently, with ups and downs of less than 4 percent for the past nine weeks. The current rate is 7.7 percent or $72 lower than it was at the beginning of the year and 12.9 percent lower year-over-year.