News
The Drewry World Container Index (WCI) fell 6% from the previous week to $1,913 per FEU in Week 38, marking the 14th consecutive week of decline. After two weeks of moving in opposite directions, the major trade routes, trans-Pacific and Asia–Europe, are now aligned in a downward trajectory, although each is moving at a different pace. Compared to a year earlier, the index was 52% lower.
Trans-Pacific spot rates started declining again, slipping back to levels last seen at the start of September. Spot rates from Shanghai to Los Angeles decreased 4% ($117) to $2,561 per FEU, while those from Shanghai to New York slid 5% ($172) to $3,571 per FEU. Despite a brief uptick, the momentum from general rate increases (GRIs) and blank sailings has now faded, which led to the rate reductions.
Asia–Europe spot rates fell last week again, going down 11% ($233) to $1,910 per FEU from Shanghai to Rotterdam and 9% ($211) to $2,131 per FEU from Shanghai to Genoa.
