The Drewry World Container Index (WCI) saw a 4% decrease, settling at $3,095 per forty-foot equivalent unit (FEU), marking a 70% decline from its pandemic peak in September 2021, yet still 118% above the 2019 pre-pandemic average of $1,420. The year-to-date average composite index now stands at $4,036 per FEU, surpassing the ten-year average by $1,200, a figure inflated by the exceptional 2020-22 COVID period.
Specifically, freight rates from Shanghai to various global destinations have adjusted. The Shanghai to Rotterdam route saw a 7% decrease to $3,132 per FEU, Shanghai to New York dropped 6% to $5,266 per FEU, and Shanghai to Genoa declined by 4% to $3,296 per FEU. Meanwhile, the Shanghai to Los Angeles route decreased by 3% to $4,814 per FEU, and Los Angeles to Shanghai rates saw a minimal 1% reduction to $710 per FEU. In contrast, rates from Rotterdam to New York surged by 28% to $2,663 per FEU, and New York to Rotterdam increased by 4% to $761 per FEU. Drewry anticipates a continued marginal decline in rates from China in the forthcoming weeks.
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Drewry
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