News
The Drewry World Container Index (WCI) decreased 1% from the previous week to $2,232 per FEU in Week 17, driven by lower rates on the Asia–Europe trade route, declining for the second consecutive week. From a year earlier, the index was 3% higher.
Spot rates on the trans-Atlantic trade route increased in double digits last week. Although rates on this lane are typically stable, they have been rising since the end of March. Those from Rotterdam to New York grew 15% ($296) to $2,326 per FEU, due to capacity reductions and the implementation of a $1,100-per-FEU peak season surcharge (PSS) by carriers, effective April 15.
Spot rates on the Asia–Europe trade route fell last week despite ongoing tensions in the Middle East, owing to weak seasonal demand and excess capacity. Rates from Shanghai to Genoa waned 8% ($272) to $3,071 per FEU, while rates from Shanghai to Rotterdam decreased 4% ($82) to $2,147 per 40ft container.
In contrast, trans-Pacific rates hiked last week, driven by carrier capacity reductions to counter seasonal demand softness. Rates from Shanghai to Los Angeles rose 4% ($124) to $2,934 per FEU, while rates from Shanghai to New York remained stable at $3,562 per FEU.
