The Drewry's World Container Index (WCI), an index calculated based on current rates for major trade routes, has dropped by 3% this week to $5,181 per 40-foot container. Additionally, Drewry expects East-West rates to remain stable in the coming weeks.
The latest Drewry WCI index of $5,181 per 40-foot container is 50% lower than the previous pandemic peak of $10,377 in September 2021 but still 265% higher than the average rate of $1,420 in 2019 (pre-pandemic).
The year-to-date average of the index is $4,108 per 40-foot container, which is $1,299 higher than the 10-year average rate of $2,809 (influenced by the exceptional Covid period of 2020-22).
Photo: Dreamstime.
Freight rates from Shanghai to Rotterdam and Genoa have decreased by 3% to $7,204 and $6,611 per 40-foot container, respectively. Similarly, rates from Shanghai to Los Angeles, Shanghai to New York, and New York to Rotterdam fell by 2% to $6,248, $8,591, and $743 per 40-foot container, respectively.
Spot prices from Rotterdam to Shanghai and New York also dropped by 1% to $622 and $1,908 per 40-foot container, respectively. Meanwhile, rates from Los Angeles to Shanghai remain stable. Despite the looming port strike by the ILA, there is a slight decline in eastbound trans-Pacific freight rates this week.
Source: Drewry.