News
The composite World Container Index (WCI) decreased 3.5% from the previous week to $1,768.33 per FEU in Week 34, the first decline in four weeks, which has dropped 70.5% when compared with the same week of last year, according to Drewry Maritime Research. The latest composite index was 83% below the peak of $10,377 per FEU reached in September 2021. It was 34% lower than the 10-year average of $2,682 per FEU, indicating a return to more normal prices, but remained 24% higher than average $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $1,772 per FEU, $910 lower than the abovementioned 10-year average.
Freight fates from Shanghai to Rotterdam and from Shanghai to Los Angeles decreased 5% to $1,688 per FEU and $2,240 per FEU, respectively. Likewise, rates from Shanghai to New York and from New York to Rotterdam decreased 3% to $3,425 per FEU and $776 per FEU, respectively. Similarly, rates from Rotterdam to Shanghai and from Shanghai to Genoa decreased 1% to $532 per FEU and $2,059 per FEU, respectively. Conversely, rates from Rotterdam to New York increased 1% to $1,585 per FEU, and rates from Los Angeles to Shanghai stayed flat at the previous week’s level. Drewry expects east-west spot rates to remain stable in the next few weeks.
