Category: General
Country: United Kingdom
By Bobby Dalheim
Senior Editor of Case Goods and Global Sourcing
18th October, 2024
London– Spot ocean container rates fell again this week, continuing the weekly decline that started three months ago. At an average of $3,216 per 40-foot container, rates are now far lower than they were in July, when furniture importers were paying upwards of $7,000 to get a container to the West Coast, and as high as $9,000 to the East.
Rates fell 4% this week, according to rate tracker Drewry, and have now dropped 20% in the past month. Still, at more than $3,200, they’re 126% higher than the 2019 pre-pandemic rate of $1,420. They sit 69% lower than the peak of $10,377 seen in 2021.
By route, rates to the U.S. sit higher but have been dropping. Getting a container from Shanghai to Los Angeles cost an average of $4,941, a 2% decline from last week. Getting one from Shanghai to New York cost $5,609, a 3% decline.
Courtesy: Hometextilestoday.com/
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