Drewry Maritime Research's composite World Container Index (WCI) decreased by 3% to $3,383.46 per FEU in Week 42, making the 34th consecutive weekly decrease, and has dropped by 66% when compared with the same week of last year. It was still 67% below the peak of $10,377 reached in September 2021 and 10% lower than the five-year average of $3,740, indicating a return to more normal prices, but remains 138% higher than the average pre-pandemic rate of $1,420 in 2019.The average year-to-date index was $7,306 per FEU, $3,567 higher than the abovementioned five-year average.

Freight rates from Shanghai to Los Angeles dropped 5% or $122 to $2,497 per FEU. Spot rates from Shanghai to Genoa and to Rotterdam fell 3% each to $4,614 and $4,436 per FEU, respectively. Likewise, rates from Rotterdam to Shanghai dipped 3% to $887 per FEU. Rates from Shanghai to New York and from New York to Rotterdam slid 2% each to $6,214 and $1,308 per FEU, respectively. Rates from Los Angeles to Shanghai and from Rotterdam to New York hovered around the previous week's levels. Drewry expects smaller week-on-week reductions in rates in the next few weeks.




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