Drewry said spot freight rates were down by 4.4% to US$1,456.20 per 40-foot container for the week covered and up by 75% from the same period of 2016.
The average composite index of the World Container Index for the year to date was $1,613 per 40-foot container, or $112 lower than the five-year average of $1,725 per 40-foot container.
Rates from Asia to Europe have declined by around 7% for the week reviewed, “indicating that carriers have not been able to sustain fully the gains experienced from the 1 April GRIs.”
Similarly, rates from Asia to the U.S. West Coast have decreased by $34 for each 40-foot box.
“We expect rates from Asia to the US East Coast to increase [this] week on the back of the planned 15 April GRI of $200/ 40ft,” said Drewry.
After a sudden surge the previous week, rates on the Europe-to-Asia route continued to increase last week, but with only a $13 for 40-foot uptick, it added.