While ocean container rates have significantly retreated from pandemic highs, they still exceed pre-pandemic levels, an industry analyst finds, indicating what is likely a “new normal” in container shipping costs that could have a cascading effect on trucking, intermodal and related logistics services throughout the global supply chain.
The latest Drewry World Container Index shows a 7% decrease in the composite index, which now stands at $2,368 per 40-foot container. This marks the lowest point since January 2024 and represents a dramatic 77% decline from the pandemic-era peak of $10,377 recorded in September 2021. Despite this substantial drop, current rates remain 67% higher than the pre-pandemic average of $1,420 in 2019.
The average year-to-date composite index closed at $3,205 per 40-foot container. This figure exceeds the 10-year average of $2,884 by $321, though it’s important to consider that this long-term average was significantly inflated by the exceptional circumstances of the 2020-2022 COVID-19 period.
Route-specific changes
To continue reading this article...
Already have an account? Sign In
Create a Free Account
No payment required
