Carriers that have been passing on the benefits of lower fuel costs to shippers may not be so generous as freight rates continue their steady decline, is the view of Drewry in its latest Container Insight Weekly.
The London-based analyst said Shanghai-to-Rotterdam rates assessed in the World Container Index has declined for eight straight weeks, and was resting at just $1,180 per 40-foot container on Mar. 26. The index has more than halved since the start of the year.