News
The composite World Container Index (WCI) decreased 2% from the previous week to $1,342 per FEU in Week 43, which has dropped 57% when compared with the same week of last year, according to Drewry Maritime Research.
The latest composite index is now 6% below the average rate of $1,420 per FEU in the pre-pandemic year of 2019 and the lowest in three years. The year-to-date average is $1,711 per FEU, $965 lower than the 10-year average rate of $2,676 per FEU, which was inflated by the exceptional 2020-22 COVID period.
Freight rates from Rotterdam to New York and from Shanghai to New York decreased by 3% to $1,518 per FEU and $2,552 per FEU, respectively. Likewise, those from Shanghai to Rotterdam and to Genoa declined 2% to $1,004 per FEU and $1,344 per FEU, respectively. Furthermore, rates from Rotterdam to Shanghai, from Shanghai to Los Angeles and from Los Angeles to Shanghai inched down by 1% to $472 per FEU, $1,961 per FEU and $806 per FEU, respectively. Conversely, rates from New York to Rotterdam increased 1% to $709 per FEU.
Drewry anticipates east-west spot rates to remain close to current levels, overall, in the upcoming weeks.
