24.09.30WCI Decreases 7% in Week 39

The World Container Index (WCI) decreased 7% from the previous week to $3,691 per FEU in Week 39, according to Drewry Maritime Research. The composite index has stayed on a downward trend for the 10th consecutive week but was 163% higher than a year earlier. It was 64% below the previous pandemic peak of $10,377 per FEU in September 2021 but 160% above the average rate of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $4,113 per FEU, $1,288 higher than the 10-year average rate of $2,825 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Fright rates from Shanghai to Genoa decreased 15%, or $716 to $4,212 per FEU. Similarly, those from Shanghai to Rotterdam declined 11%, or $525 to $4,157 per FEU. Rates from Shanghai to New York dropped 5%, or $336 to $6,028 per FEU. Rates from Shanghai to Los Angeles fell 2% ,or $90 to $5,490 per FEU. In contrast, rates from New York to Rotterdam and from Rotterdam to New York both increased 1%, going up to $722 per FEU and $2,067 per FEU, respectively. Those from Rotterdam to Shanghai and from Los Angeles to Shanghai both remained stable.

Drewry expects a continued decline in rates for Asia-Europe routes due to weaker demand. Meanwhile, rates for trans-Atlantic and -Pacific head-haul trade routes are expected to rise, driven by potential labor strikes and the impact of China's Golden Week holiday.