24.10.21WCI Decreases 4% in Week 42

The World Container Index (WCI) decreased 4% from the previous week to $3,216 per FEU in Week 42, according to Drewry Maritime Research. The index has been on the decline for the 13th consecutive week but was still 136% higher than a year earlier. It was 69% below the previous pandemic peak of $10,377 per FEU in September 2021 but 126% above the average rate of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $4,058 per FEU, $1,225 higher than the 10-year average rate of $2,834 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Genoa decreased 9%, or $346 to $3,438 per FEU, while those from Shanghai to Rotterdam dropped 6%, or $218 to $3,373 per FEU. Likewise, rates from Shanghai to New York fell 3%, or $152 to $5,609 per FEU and those from Shanghai to Los Angeles, 2%, or $78 to $4,941 per FEU. Conversely, rates from Rotterdam to Shanghai increased 1%, or $4 to $547 per FEU. Meanwhile, rates from Los Angeles to Shanghai, from New York to Rotterdam and from Rotterdam to New York all remained stable.