THE DREWRY World Container Index decreased by 1.1% to US$1389.5 this past week

The index has dropped by 62.3% when compared with the same week last year. It is now 2% below than average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year to date is US$1738 per 40-foot container, which is US$940 lower than the 10-year average rates of US$2678.

Freight rates on Shanghai to Rotterdam, Rotterdam to Shanghai and New York to Rotterdam decreased by 2% to US$1027, US$470 and US$739 per 40-foot containers respectively.

Likewise, rates on Shanghai to Genoa, Shanghai to Los Angeles and Los Angeles to Shanghai dropped by 1% to US$1,471, US$1998 and US$822 per FEU respectively.

Rates on Shanghai to New York and Rotterdam to New York remain stable.

Drewry anticipates East-West spot rates trend to remain close to current levels, overall, in the upcoming week.

The Drewry WCI measures ocean freight rate movements of 40-foot containers in seven significant maritime trade lanes.