India,
Global container rates fell by 3% week-on-week, reaching $5,181 per 40 ft unit as of August 29, down from $5,319 the previous week. Despite the decline, rates remain significantly higher than a year ago, up 200% from $1,740 per FEU. On a month-on-month basis, rates dropped by 10%, or $555 per unit, since August 1.
Drewry’s latest index shows container rates are 50% below the pandemic peak of $10,377 in September 2021 but still 265% above the pre-pandemic 2019 average. While carriers face challenges in halting the rate slide, Maersk noted strong demand, with projected market growth of 4-6% in 2024. Specific routes saw rate declines from Shanghai to Rotterdam and Los Angeles, while some routes remained stable.
By Priyadharshini
