23.02.13WCI Down 2% in Week 6

Drewry Maritime Research's composite World Container Index (WCI) decreased by 2% to $1,997.22 per FEU in Week 6, which has dropped by 79% when compared with the same week of last year. It was 81% below the peak of $10,377 per FEU reached in September 2021. It was 26% lower than the 10-year average of $2,693 per FEU, indicating a return to more normal prices, but remained 41% higher than the pre-pandemic average rate $1,420 per FEU in 2019.The year-to-date average was $2,071 per FEU, which was $622 lower than the abovementioned 10-year average.

Freight rates from Rotterdam to New York dropped 4% or $252 to $6,010 per FEU. Spot rates from Shanghai to New York and from Shanghai to Genoa slid 3% each to $3,125 and $2,655 per FEU, respectively. Similarly, rates from Rotterdam to Shanghai fell 3% to $761 per FEU. Rates from Shanghai to Rotterdam slipped 1% to $1,715 per FEU. Rates on from Shanghai to Los Angeles, from Los Angeles to Shanghai and from New York to Rotterdam all hovered around the previous week's levels. Drewry expects small week-on-week reductions in rates in the next few weeks.