25.01.14WCI Increases 2% in Week 2

The World Container Index (WCI) increased 2% from the previous week to $3,986 per FEU in Week 2, which was higher by 30% than a year earlier, according to Drewry. The composite index was 62% below the previous pandemic peak of $10,377 per FEU in September 2021 but 181% above the average of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $3,946 per FEU, $1,079 higher than the 10-year average of $2,867 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Los Angeles increased 13%, or $647 to $5,476 per FEU, and those from Shanghai to New York, 10%, or $640 to $7,085 per FEU, while those from Rotterdam to Shanghai rose 1%, or $6 to $522 per FEU. Conversely, rates from Shanghai to Rotterdam decreased 8%, or $399 to $4,375 per FEU, and those from Shanghai to Genoa, 4%, or $210 to $5,210 per FEU. Likewise, those from Los Angeles to Shanghai, from New York to Rotterdam and from Rotterdam to New York decreased 1% to $719 per FEU, $828 per FEU, and $2,698 per FEU, respectively.

The International Longshoremen’s Association (ILA) and the U.S. Maritime Alliance (USMX) have reached a tentative agreement, averting a looming port strike in January. Nonetheless, Drewry expects rates on the trans-Pacific trade to rise in the coming week, driven by front-loading ahead of anticipated tariff hikes under the incoming Donald Trump Administration of the U.S.