News
The Drewry World Container Index (WCI) decreased 10% from the previous week to $2,212 per FEU in Week 4, declining for the second consecutive week, primarily due to a drop in rates on the trans-Pacific and Asia–Europe trade routes. From a year earlier, the index was 36% lower. [
Spot rates from Shanghai to New York decreased 11% ($377) to $3,191 per FEU and to Los Angeles, 12% ($363) to $2,546 per FEU. Carriers increased blank sailings last week to counter softening demand following the end of the Lunar New Year cargo rush. Drewry expects freight rates to decline further in the coming weeks.
Spot rates on key Asia–Europe trade routes continued to decrease for the second consecutive week, with those on the Shanghai–Rotterdam route dropping 9% ($253) to $2,510 per FEU and those on the Shanghai–Genoa route falling 8% ($319) to $3,520 per FEU.
Spot rates from New York to Rotterdam fell 1% ($6) to $983 per FEU, and those from Rotterdam to New York, 4% ($64) to $1,570 per FEU.
