News
25.09.01WCI Decreases 6% in Week 35
The World Container Index (WCI) decreased 6% from the previous week to $2,119 per FEU in Week 35, which went down 59% from a year earlier. The index declined for the 11th consecutive week and is expected to continue falling in the coming weeks.
Unpredictability began after U.S. tariffs were announced in April, which caused rates to surge from May through early June, but they plunged thereafter until mid-July and continued to decline until last week.
Trans-Pacific spot rates fell last week, as those from Shanghai to Los Angeles fell 3% ($80) to $2,332 per FEU and those from Shanghai to New York, 5% ($172) to $3,291 per FEU. The phase of accelerated purchasing by US retailers, which induced an early peak season, has ended. In response to a decelerating U.S. economy and increased tariff costs, they are now scaling back on procurement but at a measured pace. Hence, Drewry expects rates on this trade lane to continue declining in the coming weeks.
Asia–Europe spot rates declined last week, too, as those from Shanghai to Rotterdam reduced 10% ($312) to $2,661 per FEU, and from Shanghai to Genoa, 5% ($136) to $2,842 per FEU. Despite healthy demand and port delays in Europe, a growing surplus of vessel capacity has been pushing down spot rates on this trade lane. Therefore, Drewry predicts a further decline in spot rates in the coming weeks.