News
Drewry Maritime Research's composite World Container Index (WCI) decreased by 7% to $2,591.41 per FEU in Week 46 from the previous week, the 38th consecutive weekly decline, and has dropped by 72% when compared with the same week of last year. It was 75% below the peak of $10,377 reached in September 2021 and 31% lower than the five-year average of $3,764, indicating a return to more normal prices, but remains 82% higher than the pre-pandemic average of $1,420 in 2019.The year-to-date average was $6,922 per FEU, which was $3,159 higher than the five-year average.
Freight rates from Shanghai to Rotterdam dropped 14% or $439 to $2,687 per FEU. Spot rates from Shanghai to Los Angeles and from Shanghai to New York fell 6% each to $2,130 and $5,045 per FEU, respectively. Similarly, rates from Shanghai to Genoa and from Rotterdam to Shanghai slid 3% each to $3,404 and $840 per FEU, respectively. Rates from New York to Rotterdam, from Rotterdam to New York and from Los Angeles to Shanghai hovered around the previous week's levels. Drewry expects smaller week-on-week reductions in rates in the next few weeks.
