News
The composite World Container Index (WCI) decreased by 2% to $1,469 per FEU in Week 46, which has dropped by 43% when compared with the same week of last year, according to Drewry Maritime Research.
The latest composite index is now 3% more than the average rate of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average is $1,695 per FEU, $980 lower than the 10-year average rate of $2,675 per FEU, which was inflated by the exceptional 2020-22 Covid period.
Freight rates from Shanghai to Rotterdam decreased by 4%, or $45 to $1,227 per FEU. Likewise, those from Shanghai to Los Angeles declined by 3%, or $79 to $2,208 FEU. Similarly, rates from Shanghai to New York diminished by 2%, or $40 to $2,621 per FEU. Conversely rates from New York to Rotterdam increased by 2%, or $12 to $614 per FEU. Likewise, those from Rotterdam to Shanghai and from Rotterdam to New York inched up 1%, or $5 to $466 per FEU and $22 or $1,510 per FEU, respectively. However, rates from Los Angeles to Shanghai remained stable to its previous week’s level.
Drewry anticipates east-west spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.
