Container shipping spot rates cool down

The US tariffs on Chinese goods and other trade disruptions had forced traders in the US to go for restocking for their peak season much earlier than usual, which had caused the shipping rates to peak, but now this impact seems to be fading down. But now the shipping rates are cooling down, for the first time in three months. The Drewry World Container Index dropped by close to 3% to $6000 for 40 feet containers, which is still higher compared to the rates posted towards the end of 2023. The shipping rates from Shanghai to Los Angeles dropped by 4.9% in the second week to almost $7000, while the cost of shipping container from Shanghai to Rotterdam remained at $8000. These prices indicate towards softening  of the market in terms of container rates.