24.05.13WCI Jumps in Week 19

The World Container Index (WCI) increased a notable 16% from the previous week to $3,159 per FEU in Week 19, according to Drewry Maritime Research.

The composite index has continued to increase for three weeks in a row and increased 81% when compared with the same week of 2023.It was 122% more than the average rate of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $3,227 per FEU, $512 higher than the 10-year average rate of $2,714 per FEU, which was inflated by the exceptional 2020-22 COVID-19 period.

Freight rates from Shanghai to Rotterdam increased 20%, or $606 to $3,709 per FEU. Similarly, those from Shanghai to Los Angeles surged 18%, or $617 to $3,988 per FEU. Likewise, rates from Shanghai to Genoa and from Shanghai to New York both spiked 16%, going up to $4,295 per FEU and $5,089 per FEU, respectively. Rates from New York to Rotterdam inched up 1%, or $4 to $629 per FEU. Conversely, those from Rotterdam to New York decreased 2%, or $50 to $2,160 per FEU. Rates from Rotterdam to Shanghai declined 6%, or $44 to $695 per FEU. While those from Los Angeles to Shanghai remained stable.

Drewry expects freight rates from China to continue increasing in the upcoming week amid a huge demand spike and tight capacity.