DREWRY’S World Container Index (WCI) decreased by 5% to US$3493 per 40-foot container this week. 

It had increased by 88% when compared with the same week last year.  

The latest WCI composite index of US$3493 is 146% more than average 2019 (pre-pandemic) rates of US$1420. 

The average composite index for the year-to-date is US$3553 per 40-foot container, which is $859 higher than the 10-year average rate of US$2694 (which was inflated by the exceptional 2020-22 covid period). 

Freight rates on Shanghai to Rotterdam decreased by 7% or US$277 to US$3944 per 40-foot box. 

Rates from Shanghai to Genoa dropped 6% or US$285 to $US4757 per FEU. 

Rates on Shanghai to Los Angeles declined 4% or $197 to $US4486 per FEU.  

Similarly, rates from Shanghai to New York dropped 3% or US$156 to US$5820. 

Conversely, rates on Los Angeles to Shanghai and New York to Rotterdam increased 2% or US$11 and US$10 to US$719 and US$633 respectively per FEU. 

Rates from Rotterdam to Shanghai and Rotterdam to New York increased 1% or US$5 and US$16 to US$915 and US2220 respectively per FEU. 

Drewry expects slight decreased in spot rates from China over the next few weeks.