24.07.01WCI Increases 4% in Week 26

The World Container Index (WCI) increased 4% from the previous week to $5,318 per FEU in Week 26, which was a week-on-week increase for four consecutive terms, according to Drewry Maritime Research. It has increased 256% when compared with the same week of 2023. The latest composite index was, however, 49% below the previous pandemic peak of $10,377 per FEU in September 2021 but 274% more than the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $3,579 per FEU, $831 higher than the 10-year average rate of $2,748 per FEU, which was inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Rotterdam increased 7%, or $455 to $7,322 per FEU. Those from Shanghai to Los Angeles and from Shanghai to New York both rose 4%, which picked up to $6,673 per FEU and $7,827 per FEU, respectively. Similarly, rates from Rotterdam to Shanghai, from Shanghai to Genoa and from New York to Rotterdam all grew 1%, going up to $676 per FEU, $7,102 per FEU and $640 per FEU, respectively. Conversely, those from Rotterdam to New York decreased 2%, or $49 to $2,044 per FEU. Meanwhile, rates from Los Angeles to Shanghai remained stable.  Drewry expects minor increase in freight rates due to congestion at Asian ports.