News
The World Container Index (WCI) decreased by 3% from the previous week to $2,929 per FEU in Week 13, which has remained on a downward trend for nine weeks in a row, according to Drewry Maritime Research. The index was, however, still 71% greater than a year earlier.
The latest composite index was 106% higher than the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $3,413 per FEU, $709 higher than the 10-year average of $2,704 per FEU, which was inflated by the exceptional 2020-22 COVID period.
Freight rates from Shanghai to New York decreased 6%, or $318 to $5,058 per FEU. Likewise, those from New York to Rotterdam and from Shanghai to Los Angeles both declined 3%, going down to $637 per FEU and $3,825 per FEU, respectively. Similarly, rates from Shanghai to Rotterdam, from Rotterdam to Shanghai and from Shanghai to Genoa all dwindled 2% to reach $3,159 per FEU, $814 per FEU and $3,806 per FEU, respectively. Those from Los Angeles to Shanghai and from Rotterdam to New York both shed 1%, falling to $691 per FEU and $2,261 per FEU, respectively.
Drewry expects a minor decrease in spot freight rates in the coming week.
