DREWRY’S World Container Index (WCI) has remained stable this past week, finishing up at US$3440 per FEU for the week of 14 November, a decline of just US$4.
The index remains 67% below the previous pandemic peak of US$10,377 in September 2021, but 142% more than the average US$1420 in 2019 (pre-pandemic).
The average YTD composite index is US$3992 per FEU, which is US$1147 higher than the 10-year average of US$2845 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Rotterdam increased 2% or US$89 to US$4043 per FEU and those from Rotterdam to New York inched up 1% or US$34 to US$2658 per FEU.
On the other hand, rates from Shanghai to Los Angeles decreased 2% or US$106 to US$4700 per FEU while those from Rotterdam to Shanghai fell 1% or US$3 to US$521 per FEU.
Meanwhile, rates from Shanghai to Genoa, Los Angeles to Shanghai, Shanghai to New York, and New York to Rotterdam remained stable.
Drewry expects spot rates on the Asia to Europe trade route to increase next week as carriers have announced GRIs starting mid-November.
