News
Drewry Maritime Research’s composite World Container Index (WCI) decreased 0.2% from the previous week to $1,682.10 per FEU in Week 22. The composite index has dropped 77.9% when compared with the same week of last year. It 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 18% higher than the average 2019 pre-pandemic rate of $1,420 in 2019. The year-to-date average was $1,851 per FEU, $837 lower than the abovementioned 10-year average.
Freight rates from Rotterdam to New York fell 6% or $255 to $3,714 per FEU. Similarly, rates from New York to Rotterdam declined 4% to reach $813 per FEU. However, rates from Shanghai to New York increased 3% or $73 to $2,833 per FEU. Rates from Rotterdam to Shanghai and from Shanghai to Los Angeles dropped 1% to $579 and $1,782 per FEU, respectively. However, rates from Shanghai to Rotterdam inched up 1% to $1,543 per FEU. Nevertheless, rates from Shanghai to Genoa and from Los Angeles to Shanghai hovered around the previous week’s levels. Drewry expects east-west spot rates to decrease further in the next few weeks.
