THE DREWRY World Container Index decreased by 2% to US$1469 per 40-foot container this past week and has dropped by 43% when compared with the same week last year.
The latest WCI composite index is now 3% more than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year to date is US$1695 per 40-foot container, which is US$980 lower than the 10-year average rates of US$2675 (which was inflated by the exceptional 2020-22 covid period).
Freight rates on Shanghai to Rotterdam decreased by 4% to US$1227 per 40-foot container.
Likewise, rates on Shanghai to Los Angeles declined by 3% or US$79 to US$2208 per 40-foot box.
Similarly rates on Shanghai to New York diminished by 2% or US$40 to US$2621 per FEU.
Conversely, rates on New York to Rotterdam increased by 2% or US$12 to US$614 per 40-foot container.
Likewise, rates on Rotterdam to Shanghai and Rotterdam to New York inched up 1% to US$466 and US$1510 per 40-foot box respectively.
However, rates on Los Angeles to Shanghai remained stable to its previous week’s level.
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.