24.12.02WCI Decreases 2% in Week 48

The World Container Index (WCI) decreased 2% from the previous week to $3,331 per FEU in Week 48, according to Drewry. The composite index, however, was still 141% higher than a year earlier. It was 68% below the previous pandemic peak of $10,377 per FEU in September 2021 but 134% above the average of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $3,966 per FEU, $1,116 higher than the 10-year average of $2,850 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Los Angeles decreased 5%, or $238 to $4,250 per FEU, and those from Shanghai to Rotterdam, 2%, or $74 to $3,997 per FEU. Likewise, rates from Shanghai to Genoa, from Shanghai to New York and from New York to Rotterdam all shrank 1%, going down to $4,490 per FEU, $5,182 per FEU and $789 per FEU, respectively. Meanwhile, rates from Rotterdam to Shanghai, from Los Angeles to Shanghai and from Rotterdam to New York all stayed flat.

Drewry expects spot rates to remain stable next week.