News
The World Container Index (WCI) increased 16% from the previous week to $4,072 per FEU in Week 21, according to Drewry Maritime Research. Remaining on an upward trend for the fifth week in a row, the composite index increased by 142% when compared with the same week of last year. It was 187% more than the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $3,280 per FEU, $559 higher than the 10-year average rate of $2,717 per FEU, which was inflated by the exceptional 2020-22 COVID period.
Freight rates from Shanghai to Rotterdam increased 20%, or $827 to $4,999 per FEU. Similarly, rates from Shanghai to Los Angeles increased 18%, or $801 to $5,277 per FEU. Rates from Shanghai to Genoa were as robust, climbing 15%, or $718 to $5,494 per FEU. Correspondingly, rates from Shanghai to New York surged 13% or $746 to $6,463 per 40ft container. Also, Rotterdam to New York rates increased 1% or $32 to $2,241 per feu. In contrast, rates from Rotterdam to Shanghai decreased 1%, or $6 to $673 per FEU. Those from Los Angeles to Shanghai and from New York to Rotterdam both remained stable.
Drewry expects the spikes in spot freight rates to lessen in the next few months.
