News
The composite World Container Index (WCI) increased 2.3% from the previous week to $1,832.48 per FEU in Week 33, which has dropped 70.6% when compared with the same week of last year, according to Drewry Maritime Research. The latest index was 82% below the peak of $10,377 per FEU reached in September 2021. It was 32% lower than the 10-year average of $2,683 per FEU, indicating a return to more normal prices, but remained 29% higher than the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $1,773 per FEU, $910 per FEU lower than the abovementioned 10-year average.
Freight Rates from Shanghai to Rotterdam increased 6%, or $95 to $1,768 per FEU. Similarly, spot rates from Shanghai to New York grew 5%, or $182 to $3,545 per FEU. Likewise, rates from Rotterdam to Shanghai rose 2%, or $13 to $539 per FEU, and those from Shanghai to Genoa hiked 1%, or $14 to $2,086 per FEU. Conversely, rates from Rotterdam to New York decreased 1%, or $16 to $1,577 per FEU. Moreover, spot rates from Shanghai to Los Angeles, from Los Angeles to Shanghai and from New York to Rotterdam all remained static at the previous week’s levels. Drewry expects east-west spot rates to remain stable in the next few weeks.
