News
The composite World Container Index (WCI) decreased by 5% in Week 35, the 27th consecutive weekly decrease, and has dropped by 43% when compared with the same week of last year. The latest composite index of $5,662 per FEU was 45% below the peak of $10,377 reached in September 2021, but it remains 55% higher than the five-year average of $3,664. The average year-to-date index was $7,928 per FEU, $4,265 higher than the abovementioned five-year average.
Freight rates from Shanghai to Los Angeles dropped 9% or $565 to $5,562 per FEU. Spot rates from Shanghai to Rotterdam and to Genoa fell 5% each to $7,583 and $7,971 per FEU, respectively. Rates from Shanghai to New York decreased 3% or $265 to $9,304 per FEU. Similarly, rates from Rotterdam to New York dipped 1% to $6,839 per FEU. However, rates from Los Angeles to Shanghai gained 1% to $1,262 per FEU. Rates from Rotterdam to Shanghai and from New York to Rotterdam hovered around the previous week's levels. Drewry expects the WCI to decrease in the next few weeks.
