23.12.04WCI Remains Stable in Week 48

The World Container Index (WCI) remained stable from the previous week at $1,382 per FEU in Week 48 this week, which has dropped 40% when compared with the same week of last year, according to Drewry Maritime Research.
The latest composite index is now 3% less than the 2019 pre-pandemic average rate of $1,420 per FEU. The year-to-date average is $1,682 per FEU, $991 lower than the 10-year average rate of $2,673 per FEU, which was inflated by the exceptional 2020-22 COVID period.

Freight rates from New York to Rotterdam decreased 4%, or $26 to $587 per FEU. Likewise, those from Los Angeles to Shanghai and from Rotterdam to Shanghai dropped by 2% to $748 per FEU and $464 per FEU, respectively. Rates from Shanghai to Los Angeles, in contrast, declined 1%, or $29 to $1,971 per FEU. Those from Shanghai to Rotterdam and from Shanghai to Genoa increased 2% to $1,171 per FEU and $1,397 per FEU, respectively. While rates from Rotterdam to New York and from Shanghai to New York both remained stable.

Drewry anticipates that spot rates on east-west lanes to remain close to current levels, overall, in the upcoming weeks.