23.04.03WCI Down 2% in Week 13

Drewry Maritime Research's composite World Container Index (WCI) decreased 2% from the previous week to $1,716.85 per FEU in Week 13, which was 83% below the peak of $10,377 per FEU reached in September 2021. It was 36% lower than the 10-year average of $2,690 per FEU, indicating a return to more normal prices, but remained 21% higher than the pre-pandemic average of $1,420 per FEU in 2019.The year-to-date average was $1,917 per FEU, $751 lower than the abovementioned 10-year average.

Rates from Shanghai to Los Angeles decreased 6% or $122 to settle at $1,775 per FEU. Freight rates from New York to Rotterdam fell 5% to $1,097 per FEU. Likewise, rates from Shanghai to New York dipped 4% or $104 to $2,494 per FEU. Rates from Rotterdam to New York slid 2% to $4,978 per FEU. Rates from Shanghai to Rotterdam and from Los Angeles to Shanghai both contracted 1% to $1,479 per FEU and $1,069 per FEU, respectively. However, rates from Shanghai to Genoa inched up 2% to $2,285 per FEU and those from Rotterdam to Shanghai, 1% to $693 per FEU. Drewry expects small week-on-week reduction in rates in the upcoming weeks.