News
Drewry Maritime Research's composite World Container Index (WCI) decreased by 3% to $2,078.90 per FEU in Week 3, which has dropped by 79% when compared with the same week of last year. It was 80% below the peak of $10,377 per FEU reached in September 2021. It was 23% lower than the 10-year average of $2,694 per FEU, indicating a return to more normal prices, but remained 46% higher than the pre-pandemic average of $1,420 per FEU in 2019. The year-to-date average was $2,116 per FEU, which was $579 lower than the abovementioned 10-year average.
Freight rates from Shanghai to New York dropped 5% or $180 to $3,432 per FEU. Spot rates from Shanghai to Rotterdam slid 4% to $1,808, and those from New York to Rotterdam slipped 3% to $1,211 per FEU. Similarly, rates from Shanghai to Los Angeles fell 2% to $2,050 per FEU. Rates from Shanghai to Genoa and from Rotterdam to New York both skipped 1% to $2,780 and $6,296, respectively. However, rates from Rotterdam to Shanghai gained 2% to $797 per FEU. Rates from Los Angeles to Shanghai hovered around the previous week's levels. Drewry expects small week-on-week reductions in rates in the next few weeks.
