News
Drewry Maritime Research’s composite World Container Index (WCI) decreased 1% from the previous week to $1,719.95 per FEU in Week 20, which has dropped by 78% when compared with the same week of 2022. The latest composite index was 83% below the peak of $10,377 per FEU reached in September 2021. It was 36% lower than the 10-year average of $2,688 per FEU, indicating a return to more normal prices, but remained 21% higher than pre-pandemic the average rate of $1,420 per FEU in 2019.The year-to-date index was $1,868 per FEU, $820 lower than the abovementioned 10-year average.
Freight rates from New York to Rotterdam fell 6% or $50 to $839 per FEU. Rates from Shanghai to Rotterdam slid 4% to settle at $1,542 per FEU. Similarly, rates from Rotterdam to New York contracted 2% to $4,434 per FEU. However, rates from Los Angeles to Shanghai gained 1% to $1,029 per FEU. Rates from Shanghai to Los Angeles, from Rotterdam to Shanghai, from Shanghai to Genoa 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.
