DREWRY’S World Container Index decreased by 1% to US$3733 per 40-foot container this week.
It had increased by 91% when compared with the same week last year.
The latest WCI composite index of US$3733 is 163% more than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$3546 per 40-foot container, which is $857 higher than the 10-year average rate of US$2689 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates on Shanghai to Rotterdam and Rotterdam to Shanghai decreased by 3% or US$138 and US$32 to US$4,288 and US$958 per 40-foot box respectively.
Rates on Los Angeles to Shanghai and Shanghai to New York dropped by 2% or US$17 and US$98 to US$709 and US$6,170 per FEU.
Likewise, rates on Shanghai to Genoa reduced by 1% or US$52 to US$5,173 per 40-foot box.
Conversely, rates on Rotterdam to New York swelled by 10% or US$195 to US$2173 per 40-foot box.
Rates on New York to Rotterdam increased by 2% or US$12 to US$623 per FEU.
Rates on Shanghai to Los Angeles remained stable.
Drewry expects a minor reduction in spot rates after the Chinese New Year however, freight rates on the transatlantic trade route are expected to remain stable next week.
