Drewry Maritime Research’s composite World Container Index (WCI) decreased 2% from the previous week to $1,685.32 per FEU in Week 21. It has dropped by 78% when compared with the same week of last year. The latest composite index was 84% below the peak of $10,377 per FEU reached in September 2021. It was 37% lower than the 10-year average of $2,688 per FEU, indicating a return to more normal prices, but remained 19% higher than the pre-pandemic average rate of $1,420 per FEU in 2019. The year-to-date average rate was $1,859 per FEU, $828 lower than the abovementioned 10-year average.

Freight rates from Rotterdam to New York fell 10% or $465 to $3,969 per FEU. Rates from Shanghai to New York slid 2% to settle at $2,760 per FEU. Apart from the above trades, rates dipped by a meagre 1% on majority of others. Rates from Shanghai to Genoa and from Shanghai to Rotterdam dropped to $2,169 per FEU and $1,530 per FEU, respectively. Similarly, rates from Shanghai to Los Angeles and from Los Angeles to Shanghai dropped $1,798 per FEU and $1,023 per FEU, respectively, and those from Rotterdam to Shanghai dropped to $587 per FEU. However, rates from New York to Rotterdam inched up 1% to $844 per FEU. Drewry expects east-west spot rates on routes other than the trans-Atlantic to be stable in the next few weeks.




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