Container rates ease from peak: SCFI -3.28% to 3,080, Drewry WCI slips to $4,000

Summary

After a ten-week rally, container rates turned down. The SCFI fell 3.28% on July 17 to 3,080, its second weekly decline, with US West Coast rates off 8% to $5,721/FEU and Europe down 3.5% to $3,215/TEU. Drewry's World Container Index eased 2% to about $4,000/FEU, its first drop since May, though still roughly 75% above a year earlier.