25.02.03WCI Decreases 2% in Week 5

The World Container Index (WCI) decreased 2% from the previous week to $3,364 per FEU in Week 5, which was down 12% from a year earlier, according to Drewry. The composite index was 68% below the previous pandemic peak of $10,377 per FEU in September 2021 but 137% above the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $3,711 per FEU, $835 higher than the 10-year average of $2,876 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Rotterdam decreased 5%, or $160 to $3,274 per FEU, and those from Shanghai to Genoa, 4%,  or $162 to $4,400 per FEU. Rates from Rotterdam to New York reduced 2%, or $46 to $2,732 per FEU, followed by those from Shanghai to New York and from Shanghai to Los Angeles, which decreased 1% to $6,288 per FEU and $4,771 per FEU, respectively. Conversely, spot rates from New York to Rotterdam increased 2%, or $18 to $839 per FEU, and from Rotterdam to Shanghai, 1%, or $3 to $518 per FEU. Meanwhile, rates from Los Angeles to Shanghai remained stable.

Drewry expects spot rates to decrease slightly in the coming week due to the increase in capacity.