DREWRY’S composite World Container Index decreased by 0.2% to US$1682.10 per 40-foot container this week.
Compared with the same week last year, however, the index dropped by 77.9%.
The latest Drewry WCI composite index is now 84% below the peak of US$10,377 reached in September 2021. It is 37% lower than the 10-year average of US$2688, indicating a return to more normal prices, but remains 18% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$1851 per 40-foot container, which is US$837 lower than the 10-year average.
Freight rates on Rotterdam – New York fell 6% or US$255 to US$3714 per FEU.
Similarly, rates on New York – Rotterdam declined by 4% to reach at US$813 per 40-foot box.
However, rates on Shanghai – New York increased by 3% or US$73 to US$2,833 per 40-foot container.
Rates on Rotterdam – Shanghai and Shanghai – Los Angeles dropped 1% to US$579 and US$1782 per 40-foot container, respectively.
However, rates on Shanghai – Rotterdam inched up 1% to US$1,543 per FEU.
Nevertheless, rates on Shanghai – Genoa and Los Angeles – Shanghai hovered around the previous week’s level. Drewry expects East-West spot rates to decrease further in the next few weeks.
