THE DREWRY World Container Index this past week increased by 5% to US$1406 per 40-foot container.

This is the first increase since the index peaked on 17 August at US$1832.

This week’s index has dropped by 54% when compared with the same week last year.

The latest Drewry WCI composite index is now 1% below the average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year to date is US$1704 per 40-foot container, which is US$972 lower than the 10-year average rates of US$2676 (which was inflated by the exceptional 2020-22 Covid period).

Freight rates on New York to Rotterdam decreased by 7% to US$656 per 40-foot container.

Likewise, rates on Los Angeles to Shanghai declined by 3% to US$784 per 40-foot box.

Furthermore, rates on Rotterdam to Shanghai and Rotterdam to New York inched down by 1% to US$465 and US$1500 per 40-foot container.

Conversely, rates on Shanghai to Los Angeles increased by 11% to US$2175 per 40-foot box.

Similarly, rates on Shanghai to Rotterdam surged by 4% to US$1048 per 40-foot container.

Likewise, rates on Shanghai to New York rose by 3% to US$2616 per 40-foot box.

Moreover, rates on Shanghai to Genoa inched up by 1% to US$1359 per 40-foot container respectively.

Drewry anticipates East-West spot rates 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.