THE DREWRY World Container Index remained stable this past week at $1382 per 40-foot container.
The index has dropped by 40% when compared with the same week last year.
The latest Drewry WCI composite index is now 3% less than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $1682 per 40-foot container, which is $991 lower than the 10-year average rates of $2,673 (which was inflated by the exceptional 2020-22 covid period).
Freight rates on New York to Rotterdam decreased by 4% or $26 to $587 per FEU.
Likewise, rates on Los Angeles to Shanghai and Rotterdam to Shanghai dropped by 2% to $748 and $464 per 40-foot container respectively.
Rates on Shanghai to Los Angeles declined by 1% or $29 to $1971 per 40-foot box.
Conversely, rates on Shanghai to Rotterdam and Shanghai to Genoa increased by 2% to $1171 and $1397 per 40-foot container respectively.
Meanwhile, rates on Rotterdam to New York and Shanghai to New York remained stable.
Drewry anticipates east-west spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.
The Drewry WCI measures ocean freight rate movements of 40-foot containers in seven significant maritime trade lanes.
