Drewry's latest World Container Index (WCI) reveals a 3% drop in shipping rates, bringing the average to $3,855 per 40-foot container as of 16 January 2025. This represents a significant decline of 63% from the pandemic peak of $10,377 in September 2021 but remains 171% higher than the pre-pandemic 2019 average of $1,420.
Photo: Dreamstime.
Year-to-date, the average composite index stands at $3,915, which is $1,045 above the 10-year average of $2,871, a figure elevated by the extraordinary conditions of the Covid-19 period between 2020 and 2022.
Freight rates along key trade routes have shown varied movement. The Shanghai to Los Angeles route experienced a 5% decrease, equating to $248, landing at $5,228 per 40-foot container. Similarly, Shanghai to New York rates dropped by 4% or $260, settling at $6,825. Other reductions included Shanghai to Rotterdam, down 3% or $144 to $4,231, and Shanghai to Genoa, which fell 2% or $124 to $5,086. Conversely, rates for Rotterdam to New York rose by 4%, an increase of $100 to $2,798. Meanwhile, Los Angeles to Shanghai saw a slight rise of 1%, or $6, to $725, and New York to Rotterdam remained stable.
Table: Drewry.
Drewry anticipates that spot rates may decline further in the coming weeks due to increased shipping capacity. These trends underscore the volatility in the shipping market as carriers and customers navigate post-pandemic conditions and fluctuating demand.
More information:
Drewry
www.drewry.co.uk