News
The World Container Index (WCI) increased 2% from the previous week to $2,208 per FEU in Week 14, the first year-on-year increase in 12 weeks, according to Drewry. The composite index was 79% below the previous pandemic peak of $10,377 per FEU in September 2021 but 55% above the average $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average closed at $2,993 per FEU, $105 higher than the 10-year average of $2,887 per FEU, which is inflated by the exceptional 2020-22 COVID period.
Freight rates from Shanghai to Los Angeles increased 10%, or $239 to $2,726 per FEU, and those from Shanghai to New York increased 8%, or $272 to $3,894 per FEU. Conversely, spot rates from Rotterdam to Shanghai decreased 7%, or $34 to $466 per FEU, and those from Shanghai to Genoa fell 4%, or $140 to $3,031 per FEU. Rates from Shanghai to Rotterdam decreased 3%, or $66 to $2,304 per FEU, while those from New York to Rotterdam and from Rotterdam to New York decreased 2%, or $13 to $831 and 2%, or $38 to $2,124 per FEU, respectively. Rates from Los Angeles to Shanghai reduced 1% ,or $4 to $705 per 40ft container.
The trans-Pacific trade lane witnessed a reversal of its months-long week-on-week trend of declining spot rates due to recent sailing cancellations. The imposition of tariffs, announced by U.S. President Donald Trump, is anticipated to introduce greater volatility to these spot rates.
