News
The Drewry World Container Index (WCI) decreased 5% from the previous week to $2,107 per FEU in Week 5, rising for the third 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 down 37%.
Spot rates from Shanghai to New York decreased 7% ($222) to $2,969 per FEU, and those from Shanghai to Los Angeles fell 4% ($104) to $2,442 per FEU. According to Container Capacity Insight, carriers have announced 63 blank sailings in February, up from 27 in January, as demand remains weak ahead of Lunar New Year factory closures. Drewry expects spot rates to continue to decrease further in the coming weeks.
Spot rates on the Asia–Europe trade continued to decrease for the third consecutive week, with rates from Shanghai to Rotterdam dropping 5% ($131) to $2,379 per FEU, and those from Shanghai to Genoa falling 6% ($227) to $3,293 per FEU.
On the trans-Atlantic route, spot rates increased 1% ($5) to $988 per FEU from New York to Rotterdam and 2% ($35) to $1,605 per FEU from Rotterdam to New York.
