Shipping rates set to fall, says Drewry

Recent research by Drewry, the independent maritime adviser, has predicted that ocean freight rates will fall as we approach the end of the year. According to the research organisation, while container shipping costs have continued to rise in recent months, this has not been the case across all trades. And while pricing on Asia origin shipping has been kept afloat by the high volumes of the peak season, overcapacity in the approaching shoulder season is likely to bring sea freight rates under renewed pressure.

Drewry’s Global Freight Rate Index, a weighted average across all main trades excluding intra-Asia, rose for the second consecutive month in August to $2,159 per 40ft, a surge of 4.7 compared to July, bringing the index back up to its highest level since April 2013.

Trades contributing to the index’s recovery included the eastbound transpacific, South Asian exports, imports from China into the Middle East, South America and Africa, while falling rates were reported for both imports and exports in and out of the Oceania region. Pricing remained relatively stable elsewhere. Trades experiencing falling rates included both imports and exports in and out of the Oceania region, while elsewhere pricing remained stable.