The Drewry WCI composite index decreased 2% to $3,364 per 40ft container, 68% below the previous pandemic peak of $10,377 in September 2021, but was 137% higher than the average $1,420 in 2019 (pre-pandemic).
The average YTD composite index is $3,711 per 40ft container, $835 higher than the 10-year average of $2,876 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Rotterdam decreased 5% or $160 to $3,274 per 40ft container, while those from Shanghai to Genoa fell 4% or $162 to $4,400 per 40ft container. Similarly, rates from Rotterdam to New York reduced by 2% or $46 to $2,732 per 40ft container followed by rates from Shanghai to New York and Shanghai to Los Angeles, which decreased 1% to $6,288 and $4,771 per 40ft container, respectively.
Conversely, spot rates from New York to Rotterdam increased 2% or $18 to $839 per 40ft container and rates from Rotterdam to Shanghai rose 1% or $3 to $518 per 40ft container. Meanwhile, rates from Los Angeles to Shanghai remained stable. Drewry expects spot rates to decrease slightly in the coming week due to the increase in capacity.
For more information:
Drewry
Tel: +44 (0)207 538 0191
Email: enquiries@drewry.co.uk
www.drewry.co.uk