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Drewry’s World Container Index (WCI) increased 2% from the previous week to $2,276 per FEU in Week 21, remaining on an upward trend for two back-to-back weeks. From a year earlier, however, it was 44% down. The composite index was 78% below the previous pandemic peak of $10,377 per FEU in September 2021 but 60% above the average of $1,420 per FEU in the pre-pandemic year of 2019. The year-to-date average was $2,723 per FEU, $174 lower than the 10-year average of $2,897 per FEU, which is inflated by the exceptional 2020-22 COVID period.

Freight rates from Shanghai to Genoa increased 4%, or $99  to $2,841 per FEU and to New York, 4%, or $177 to $4,527 per FEU. Those from Shanghai to Los Angeles increased 2%, or $61 to $3,197 per FEU, and from Los Angeles to Shanghai, a marginal 1%, or $4 to $713 per FEU. On the other hand, rates from Shanghai to Rotterdam, Rotterdam to Shanghai, Rotterdam to New York, and New York to Rotterdam all remained stable.

Following the latest U.S.-China trade developments, Drewry expects an increase in spot rates in the coming week as carriers are reorganizing their capacity to accommodate a higher volume of cargo bookings from China.


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