News
Drewry Maritime Research's composite World Container Index (WCI) decreased by 2% to $6,628.29 per FEU in Week 31, the 23rd consecutive weekly decrease, and has dropped by 29% when compared with the same week of last year. It was 36% below the peak of $10,377 reached in September 2021 but remained 84% higher than the five-year average of $3,594. The average composite index year to date was $8,168 per FEU, which was $4,573 higher than the five-year average.
Freight rates from Shanghai to Los Angeles dropped 3% or $214 to $6,985 per FEU. Spot rates from Shanghai to Rotterdam and to Genoa fell 2% each to $8,939 and $9,741 per FEU, respectively. Similarly, rates from Shanghai to New York decreased 1% to $9,774 per FEU. However, rates from New York to Rotterdam gained 1% or $18 to $1,292 per FEU. Rates from Los Angeles to Shanghai, from Rotterdam to Shanghai and from Rotterdam to New York hovered around the previous week's levels. Drewry expects the WCI to decrease in the next few weeks.
