24.10.28WCI Decreases 4% in Week 43

The World Container Index (WCI) decreased 4% from the previous week to $3,095 per FEU in Week 43, according to Drewry Maritime Research. It has been on the decline for 14 consecutive weeks but still higher by 131% than it was a year earlier. The composite index was 70% below the previous pandemic peak of $10,377 per FEU in September 2021 but 118% above than the average of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $4,036 per FEU, $1,200 higher than the 10-year average of $2,836 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Rotterdam decreased 7%, or $241 to $3,132 per FEU, while rates from Shanghai to New York decreased 6%, or $343 to $5,266 per FEU and those from Shanghai to Genoa, 4%, or $142 to $3,296 per FEU. Likewise, rates from Shanghai to Los Angeles reduced 3%, or $127 to $4,814 per FEU, whereas those from Los Angeles to Shanghai shrank 1%, or $6 to $710 per FEU. Conversely, rates from Rotterdam to New York jumped 28%, or $580 to $2,663 per FEU, and those from New York to Rotterdam increased 4%, or $32 to $761 per feu. Rates from Rotterdam to Shanghai remained unchanged at $548 per FEU.