Drewry‘s composite index , the World Container Index (WCI) , fell 2% to $5,806 per 40-foot container this week, following a period of continuous increases since week 18. However, it has increased 268% compared to the same time frame last year.
The latest Drewry WCI composite index of $5,806 per 40-foot container is 44% lower than the maximum figure reached during the COVID-19 pandemic period ($10,377 in September 2021), but it is 309% higher than the 2019 (pre-pandemic) average rates of $1,420.
The average composite rate so far this year is $3,886 per 40-foot container, which is $1,108 more than the 10-year average rate of $2,777, which was inflated by the exceptional period of COVID-19 in 2020-2022, as described by the consulting firm.
Freight rates from New York to Rotterdam increased 4% or $26 to $736 per FEU. Similarly, rates from Rotterdam to New York and Los Angeles to Shanghai rose 1% to $1,954 and $706 per 40-foot box, respectively.
In contrast, rates from Shanghai to Los Angeles decreased 5% or $354 to $6,934 per 40-foot box. Similarly, rates from Shanghai to New York fell 4% or $399 to $9,213 per 40-foot container.
Likewise, rates from Shanghai to Genoa fell 1% or $82 to $7,645 per FEU. Meanwhile, fares from Rotterdam to Shanghai and Shanghai to Rotterdam remain stable.
Drewry believes spot rates have peaked, but continued shipping disruptions will keep a floor below spot rates for some time.
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