DTC home brand comes to Nordstrom pop-up

London – If the last few weeks are any judge, ocean container rates may be beginning to fall faster and faster with each passing week.

Rates overall fell 3% to $7,285 per 40-foot container this week, according to the World Container Index tracking indicator from shipping analytics firm Drewry. Rates had fallen 1% last week and just 0.6% and 0.1% the weeks before that.

But perhaps of greater significance, rates from Shanghai to Los Angeles fell 5% to $7,952, their biggest weekly drop since March. Last week, rates fell 3%.

Also of importance is that rates are finally down over the same week in 2021 some 10%. Last week, rates were up 8% over last year. Rates from Shanghai to New York fell 3% to $10,403 per container. Rates from Los Angeles to Shanghai increased 2%.

Drewry still expects rates to decrease slowly over the coming weeks.

Ocean freight carriers made more money in 2021 than in past 20 years combined

Ocean freight rates could decline sharply in early 2023

Robert Dalheim, senior editor of case goods and global sourcing, has been writing about the woodworking industry and business news since 2015. He is a graduate of Northern Illinois University with degrees in journalism and political science. Contact Bobby at rdalheim@furnituretoday.com or by calling (336) 605-3815.

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