SHANGHAI, May 27 (FAM) – Ocean freight spot rates on the main container trades from China saw further small average declines this week, according to the World Container Index (WCI) assessed by Drewry, which expects spot prices to level off next week before rising again next month.

After declining by around 3% last week and the previous week, average spot rates on the Asia-Europe trade declined again by a similar amount, resulting in the WCI on Shanghai to Rotterdam dropping by 3% or $52 to US$1,759 for a 40ft box. Similarly, average spot rates on Transpacific also declined; Shanghai-Los Angeles and Shanghai-New York fell by another 11% and 5%, respectively to $1,257 and $2,311. That followed a fall of 9% and 3%, respectively, last week.