News
The World Container Index (WCI) decreased 1% from the previous week to $2,795 per FEU in Week 15, which has continued to decline for 11 weeks in a row, according to Drewry Maritime Research. However, it was still 64% higher than a year earlier and 97% more than the average rate of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $3,333 per FEU, $626 higher than the 10-year average rate of $2,707 per FEU, which was inflated by the exceptional 2020-22 COVID period.
Freight rates from Shanghai to New York decreased 4%, or $184 to $4,710 per FEU. Those from Rotterdam to Shanghai dropped 3%, or $27 to $767 per FEU. Rates from Shanghai to Los Angeles declined 2%, or $70 to $3,634 per FEU. Freight rates from Shanghai to Rotterdam and from Rotterdam to New York both fell 1%, going down to $3,050 per FEU and $2,224 per FEU, respectively. Those from Los Angeles to Shanghai increased 1%, or $5 to $693 per FEU. Rates from Shanghai to Genoa and from New York to Rotterdam both remained stable at the previous week’s levels.
Drewry expects a minor decrease in trans-Pacific spot freight rates, whereas trans-Atlantic and Asia-Europe head-haul rates are projected to move towards stability in the coming weeks.
