News / Ocean freight rates fall for third week – but USEC port strike a major threat

Photo: ILA

The downward trend of the Drewry World Container Index (WCI) continued this week, showing average rates have fallen another 2%, to $5,428 per 40ft, from the highs of mid-July.

This marks the third consecutive week of falling rates, but the consultant says there is still a long way to go, with the WCI sitting 282% higher than the 2019 pre-pandemic average.

And as last week, the most pronounced price decrease was seen on the Shanghai-LA route, which fell $198, to $6,303 per ...