25.11.04WCI Increases 4% in Week 44

The Drewry World Container Index (WCI) increased 4% from the previous week to $1,822 per FEU in Week 44. This is the third straight week of increase, following a prolonged decline over 17 consecutive weeks. From a year earlier, however, the index was down 43%.

Spot rates from Shanghai to Los Angeles increased 6% ($148) to $2,438 per FEU and to New York, 4% ($148) to $3,568 per FEU. Drewry expects a slight rate increase next week, driven by the implementation of last Saturday’s general rate increase (GRI). However, this momentum is likely to be short-lived, with rates expected to decline soon after.

Spot rates from Shanghai to Rotterdam rose 3% ($54) to $1,795 per FEU and to Genoa, 5% to $1,955 per FEU. Carriers on the Asia–Europe trade route are trying to push spot rates up by introducing increased freight-all-kinds (FAK) rates effective from Saturday in an attempt to elevate spot rates before the start of the new annual contract negotiation season.

Spot rates from New York to Rotterdam, on the other hand, fell 1% ($10) to $846 per FEU, and from Rotterdam to New York, 2% ($42) to $1,678 per FEU.