News
Drewry Maritime Research’s composite World Container Index (WCI) decreased 1% from the previous week to $1,741.44 per FEU in Week 19, which has dropped by 77% when compared with the same week of last year. The latest WCI was 83% below the peak of $10,377 per FEU reached in September 2021. It was 35% lower than the 10-year average of $2,688 per FEU, indicating a return to more normal prices but remained 23% higher than the pre-pandemic average of $1,420 per FEU in 2019. The year-to-date average was $1,876 per FEU, which is $812 lower than the abovementioned 10-year average.
Freight rates from Rotterdam to New York fell 5% or $253 to $4,530 per FEU. Rates from New York to Rotterdam slid 4% to settle at $889 per FEU. Freight rates from Shanghai to Rotterdam contracted 2% to $1,605 per FEU. Rates from Shanghai to Genoa had a meagre drop of 1% to $2,207 per FEU. Rates from Shanghai to Los Angeles, from Rotterdam to Shanghai, from Los Angeles to Shanghai and from Shanghai to New York all hovered around the previous week’s levels. Drewry expects east-west spot rates on routes other than the trans-Atlantic to be stable in the next few weeks.
