The latest Drewry WCI composite index of $3,970 per 40ft container is 62% below the previous pandemic peak of $10,377 in September 2021, but it is 180% more than the average 2019 (pre-pandemic) rate of $1,420.
Photo: Dreamstime.
The average composite index for the year-to-date is $4,124 per 40ft container, which is $1,302 higher than the 10-year average rate of $2,821 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Rotterdam plunged 9% or $470 to $4,682 per 40ft container. Similarly, rates from Shanghai to Genoa contracted 6% or $328 to $4,928 per feu. Likewise, rates from Shanghai to New York declined 4% or $297 to $6,364 per 40ft box.
Table: Drewry.
Also, spot rates from Shanghai to Los Angeles dropped 1% or $47 to $5,580 per 40ft container. Conversely, spot rates from Rotterdam to New York increased 2% or $45 to $2,056 per 40ft box. Likewise, spot rates from New York to Rotterdam inched up 1% or $9 to $713 per feu.
While the looming ILA port strike casts a shadow, transpacific Eastbound freight rates have experienced a minor decline this week. However, weak demand is expected to drive further decreases in East-West spot rates in the coming weeks.
More information:
Drewry
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