Container prices move sideways again

The World Container Index of logistics service provider Drewry arrives at a price of $9.304 per forty-foot container. A week earlier that was $9.292 per container. The price is therefore 199% above last year's level. A lateral movement is also visible at Freightos. On average, that quote amounts to $9.513 per forty-foot container. The highest price is paid for transport from Shanghai to Rotterdam, namely $13.642 per container. Transport from Shanghai to New York follows closely behind, at $13.094 per container.

Increasing demand expected
Freightos analysts expect demand to increase again in the coming period, as a result of the Chinese New Year. That holiday takes place on February 1, 2022. This may result in higher rates. But even if the Chinese holiday had no influence on the market, analysts are not expecting price reductions. For example, it is still unclear what consequences the omikron variant of the coronavirus has. If this causes a 'normal expenditure pattern' to shift backwards, the recovery of the logistics sector will shift along with it. At least, that is the expectation.

Airline rates can no longer escape the chaos. Even more upward pressure is visible than normal during the peak season. This is mainly due to a reduced capacity of passenger aircraft. Freightos reports that air freight rates from Shanghai to the west coast of the United States passed the $26 per kilo mark last week. That is an increase of 25% compared to a month earlier and four times higher than 'normal'.