23.06.26WCI Down 3.5% in Week 25

Drewry Maritime Research’s composite World Container Index (WCI) decreased 3.5% from the previous week to $1,535.75 per FEU in Week 25, which has dropped by 78.9% when compared with the same week of last year. The latest composite index was 85% below the peak of $10,377 per FEU reached in September 2021. It is 43% lower than the 10-year average of $2,688 per FEU, indicating a return to more normal prices, but remained 8% higher than the 2019 pre-pandemic average of $1,420 per FEU. The year-to-date average was $1,822 per FEU, $866 lower than the abovementioned 10-year average.

Freight rates from Shanghai to New York dropped 7% or $190 to reach $2,543 per FEU. Similarly, rates from Shanghai to Los Angeles fell 6% or $104 to $1,642 per FEU. Also, rates from Shanghai to Genoa slid 3% to $2,075 per FEU. Freight rates from Shanghai to Rotterdam contracted 2% or $33 to $1,316 per FEU. On the contrary, rates from New York to Rotterdam and vice versa inched up 2%  to $793 per FEU and 1% to $3,226 per FEU, respectively. However, rates from Rotterdam to Shanghai and from Los Angeles to Shanghai remained stable at the previous week’s levels. Drewry expects east-west spot rates to rise again on most routes in the next few weeks.