DREWRY’S WORLD Container Index has seen a decrease of 2% this week to US$5806 per 40-foot container.
The decrease follows over a month of steady increases, including the 1% increase seen last week.
The composite index has increased 268% when compared with the same week last year.
The latest Drewry WCI composite index of US$5806 per 40-foot container is 44% below the previous pandemic peak of US$10,377 in September 2021, but it is 309% more than the average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year to date is US$3886 per 40-foot container, which is US$1108 higher than the 10-year average rate of US$2777 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates from New York to Rotterdam increased 4% or US$26 to US$736 per FEU. Likewise, rates from Rotterdam to New York and Los Angeles to Shanghai rose 1% to US$1954 and US$706 per 40-foot box respectively.
Conversely, rates from Shanghai to Los Angeles decreased 5% or US$354 to US$6934 per 40-foot box.
Similarly, rates from Shanghai to New York dropped 4% or US$399 to US$9,213 per 40-foot container.
Likewise, rates from Shanghai to Genoa declined 1% or US$82 to US$7645 per FEU. Meanwhile, rates from Rotterdam to Shanghai and Shanghai to Rotterdam remain stable.
Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.
