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Drewry Maritime Research's composite World Container Index (WCI) decreased 2% from the previous week to $1,756.83 per FEU in Week 12, which has dropped 79% when compared with the same week last year. The WCI was now 83% below the peak of $10,377 per FEU reached in September 2021. It was 35% lower than the 10-year average of $2,690 per FEU, indicating a return to more normal prices, but remained 24% higher than the pre-pandemic average rate of $1,420 per FEU in 2019.The year-to-date average was $1,957 per FEU, $733 lower than the abovementioned 10-year average.

Rates from Rotterdam to New York slid 5% or $265 to settle at $5,061 per FEU. Freight rates from Shanghai to Rotterdam fell 4% to $1,490 per FEU. Likewise, rates from Shanghai to New York dipped 2% to $2,598 per FEU. Rates from Shanghai to Los Angeles and from New York to Rotterdam both contracted 1% to $1,897 per FEU and $1,153 per FEU, respectively. However, rates from Rotterdam to Shanghai increased 1% to $693 per FEU. Rates from Shanghai to Genoa and from Los Angeles to Shanghai hovered around the previous week's levels. Drewry expects small week-on-week reductions in rates in the upcoming weeks.


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