News
The composite World Container Index (WCI) has continued to decline for four weeks in a row in Week 8, according to Drewry Maritime Research. It decreased by 2% from the previous week to $3,659 per FEU, which has increased by 93% when compared to the same week of last year.
The latest composite index is 158% more than the pre-pandemic 2019 average of $1,420 per FEU. The year-to-date average is $3,561 per FEU, $869 higher than the 10-year average rate of $2,692 per FEU, which was inflated by the exceptional 2020-22 COVID period.
Freight rates from Rotterdam to Shanghai decreased by 5%, or $48 to $910 per FEU. Likewise, those from Shanghai to Genoa and to New York dropped by 3% to $5,042 per FEU and $5,976 per FEU, respectively. Rates from Shanghai to Rotterdam declined by 2%, or $67 to $4,221 per FEU. Similarly, those from Shanghai to Los Angeles fell by 1%, or $71 to $4,683 per FEU. Conversely, rates from Rotterdam to New York increased by 1%, or $31 to $2,204 per FEU. While rates from Los Angeles to Shanghai and from New York to Rotterdam both remained unchanged.
Drewry expects rates to remain stable next week.
