News
The composite World Container Index (WCI) decreased by 5% to $3,493 per FEU in Week 9, which has continued to decline for five weeks in a row, according to Drewry Maritime Research. It has increased by 88% when compared with the same week of last year.
The latest composite index is 146% higher than the average rate of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average is $3,553 per FEU, $859 higher than the 10-year average rate of $2,694, which was inflated by the exceptional 2020-22 COVID period.
Freight rates from Shanghai to Rotterdam decreased 7%, or $277 to $3,944 per FEU. Likewise, those from Shanghai to Genoa dropped 6%, or $285 to $4,757 per FEU. Rates from Shanghai to Los Angeles declined 4%, or $197 to $4,486 per FEU. Similarly, those from Shanghai to New York dropped 3%, or $156 to $5,820 per FEU. Conversely, rates from Los Angeles to Shanghai and from New York to Rotterdam increased 2%, or $11 and $10 to $719 per FEU and $633 per FEU, respectively. Likewise, those from Rotterdam to Shanghai and from Rotterdam to New York swelled 1%, or $5 and $16 to $915 per FEU and $2,220 per FEU, respectively.
Drewry expects slight decreases in spot rates from China over the next few weeks.
