25.05.12WCI Decreases 1% in Week 19

Drewry’s World Container Index (WCI) decreased 1% from the previous week to $2,076 per FEU in Week 19, remaining on the decline for the fourth consecutive week. From a year earlier, it was down 34%. The composite index was 80% below the previous pandemic peak of $10,377 per FEU in September 2021. However, it was 46% above the average of $1,420 per FEU in the pre-pandemic year of 2019.The year-to-date average was $2,773 per FEU, $122 lower than the 10-year average of $2,895 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Rotterdam decreased 7%, or $156 to $2,046 per FEU,  and those from Shanghai to Genoa, 4%, or $123 to $2,766 per FEU. Following the trend, rates from New York to Rotterdam and from Rotterdam to New York both decreased 3%, or %28 to $814 per FEU and  $69 to $1,972 per FEU, respectively. Also, rates from Rotterdam to Shanghai decreased 2%, or $7 to $457 per FEU, while those from Shanghai to Los Angeles increased 5%, or $123 to $2,713 per FEU. Those from Shanghai to New York rose 4%, or $146 to $3,646 per FEU. Similarly, rates from Los Angeles to Shanghai increased 2%, or $17 to $706 per FEU.

Drewry expects rates to be less volatile in the coming week as carriers are reorganizing their capacity to reflect a lower volume of cargo bookings from China.