The Drewry WCI composite index decreased 1% to $3,413 per feu, which is 67% below the previous pandemic peak of $10,377 in September 2021 but 140% more than the average $1,420 in 2019 (pre-pandemic).
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The average YTD composite index is $3,980 per feu, which is $1,132 higher than the 10-year average of $2,848 (inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Genoa increased 3% or $120 to $4,520 per feu. Likewise, spot rates from Shanghai to Rotterdam, New York to Rotterdam and Rotterdam to New York inched up 1% to $4,071, $793 and $2,672 per feu. On the other hand, rates from Shanghai to Los Angeles decreased 5% or $212 to $4,488 per feu while those from Rotterdam to Shanghai fell 1% or $4 to $517 per feu. Meanwhile, rates from Los Angeles to Shanghai and Shanghai to New York remained stable. Drewry expects spot rates to remain stable next week.
Table: Drewry.
More information:
Drewry
www.drewry.co.uk