23.06.12WCI Remains Stable in Week 23

Drewry Maritime Research’s composite World Container Index (WCI) remained stable at $1,681.04 per FEU in Week 23, decreasing a marginal 0.1% from the previous week. The composite index has dropped 78% when compared with the same week of last year. The latest WCI 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 of $1,420 per FEU in the pre-pandemic year of 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 9% or $339 to $3,375 per FEU. Rates from Shanghai to Rotterdam dropped 6% or $91 to $1,452 per FEU. Similarly, rates from Shanghai to Genoa and from New York Rotterdam both declined 2% to $2,130 per FEU and $794 per FEU, respectively. Rates from Rotterdam to Shanghai slid 1% to $574 per FEU. However, rates on trans-Pacific lanes - from Shanghai to Los Angeles and from Shanghai to New York increased by 6% to $1,896 per FEU and 5% to $2,975 per FEU, respectively. Rates from Los Angeles to Shanghai hovered around the previous week’s levels. Drewry expects east-west spot rates to rise again on most routes in the next few weeks.