News
Drewry Maritime Research's composite World Container Index (WCI) decreased by 0.3% to $2,119.96 per FEU in Week 51, which was the 43rd consecutive weekly decrease, and has dropped by 77% when compared with the same week of last year. It was 80% below the peak of $10,377 reached in September 2021. It was 21% lower than the 10-year average of $2,693, indicating a return to more normal prices, but remained 49% higher than pre-pandemic average of $1,420 in 2019. The year-to-date average was $6,461 per FEU, which is $3,767 higher than the abovementioned 10-year average.
Freight rates from Shanghai to New York dropped 2% or $63 to $3,889 per FEU. Spot rates from Shanghai to Genoa and from Los Angeles to Shanghai fell 1% each to $2,879 and $1,169 per FEU, respectively. Similarly, rates from Rotterdam to Shanghai and from Rotterdam to New York slipped 1% each to $789 and $6,989 per FEU, respectively. However, rates from Shanghai to Rotterdam gained 2% or $32 to $1,706 per FEU. Rates from New York to Rotterdam and from Shanghai to Los Angeles hovered around the previous week's levels. Drewry expects smaller week-on-week reductions in rates in the next few weeks.
