THE DREWRY World Container Index increased this past week by 4$ to $1521 per 40-foot container.

The composite index has dropped by 28% when compared with the same week last year.

The latest WCI is now 7% more than average 2019 (pre-pandemic) rates of $1420.

The average composite index for the year to date is $1674 per 40-foot container, which is $998 lower than the 10-year average rate of $2672 (which was inflated by the exceptional 2020-22 covid period).

Freight rates on Shanghai to Rotterdam increased by 7%, or $99, to $1442 per FEU.

Rates on Shanghai to Genoa which swelled by 6%, or $89, to $1697 per 40-foot box.

Likewise, rates on Shanghai to New York rose by 4%, or $104, to $2851 per 40-foot container.

Similarly, rates on Rotterdam to Shanghai, Shanghai to Los Angeles and Los Angeles to Shanghai grew by 2% to $452, $1985 and $770 per FEU respectively.

Also, rates on New York to Rotterdam increased by 1% or $3 to $591 per 40-foot box.

Meanwhile, rates on Rotterdam to New York remain stable.

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.