DREWRY’S World Container Index decreased by 5% this past week to US$3010 per 40-foot container.

The latest WCI is 112% higher than average 2019 (pre-pandemic) rates of US$1420.

The average composite index for the year-to-date is US$3453 per 40-foot container, which is US$752 higher than the 10-year average rate of US$2701 (which was inflated by the exceptional 2020-22 covid period).

Freight rates from Shanghai to Rotterdam and Shanghai to Genoa decreased 8% to US$3209 and US$3882 per 40-foot box.

Similarly, freight rates from Shanghai to Los Angeles dropped 4% or US$148 to US$3934 per FEU, respectively.

Rates on Rotterdam to Shanghai decreased 2% or US$18 to US$827 per 40-foot container.

Likewise, rates on Los Angeles to Shanghai and Shanghai to New York declined 1% to US$701 and US$5376 per FEU respectively.

Rates on Rotterdam to New York and New York to Rotterdam increased 2% or US$2281 and US$658 per 40-foot container.

Drewry expects a continuing decrease in spot freight rates from China in the coming week.