THE WORLD Container Index, published by Drewry, decreased by 1% this past week, and has fallen by 80% when compared with the same week last year.
The composite index for this week is US$1790 per 40-foot container is now 83% below the peak of US$10,377 reached in September 2021.
This week’s WCI is 33% lower than the 10-year average of US$2691, indicating a return to more normal prices, but remains 26% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$1976 per 40-foot container, which is US$715 lower than the 10-year average (US$2,691 mentioned above).
Rates on Shanghai – New York slid by 2% or US$45 to settle at US$2662 per 40-foot box.
Likewise, rates on Rotterdam – Shanghai fell 2% to US$687 per FEU.
Rates on Shanghai – Rotterdam and Shanghai – Genoa sank 1% each to US$1553 and US$2256 per 40-foot container, respectively.
Similarly, rates on Los Angeles – Shanghai and Rotterdam – New York also contracted by 1% each, to US$1070 and US$5326 per FEU, respectively.
Rates on Shanghai – Los Angeles and New York – Rotterdam hovered around the previous week’s level.
Drewry expects small week-on-week reductions in rates in the next few weeks.
