News
Drewry’s World Container Index (WCI) increased 8% from the previous week to $2,233 per FEU in Week 20, its first growth in five weeks. From a year earlier, however, it was 36% down. The composite index was 78% below the previous pandemic peak of $10,377 per FEU in September 2021 but 57% above the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $2,746 per FEU, $151 lower than the 10-year average of $2,896 per FEU, which is inflated by the exceptional 2020-22 COVID period.
Freight rates from Shanghai to New York surged 19%, or $704 to $4,350 per FEU, and those from Shanghai to Los Angeles shot up 16%, or $423 to $3,136 per FEU. Rates from New York to Rotterdam increased a marginal 1%, or $10 to $824 per 40ft container. On the other hand, rates from Shanghai to Rotterdam, from Shanghai to Genoa and from Rotterdam to New York al decreased 1%, which went down by $11 to $2,035 per FEU, $24 to $2,742 per FEU and $11 to $1,961 per FEU, respectively. Those from Rotterdam to Shanghai and from Los Angeles to Shanghai both remained stable.
Following the latest U.S.–China trade developments, Drewry expects an increase in trans-Pacific spot rates in the coming week due to a shortage in capacity.
