Drewry's World Container Index (WCI) decreased by 6% this week, reaching $2,629 per 40ft container. This marks a 75% drop from the pandemic peak of $10,377 in September 2021 and the lowest level since May 2024. However, the index remains 85% higher than the pre-pandemic average of $1,420 in 2019. The year-to-date composite index stands at $3,372 per 40ft container, which is $489 above the 10-year average of $2,882, a figure still influenced by the extraordinary freight rate fluctuations seen during the Covid-19 period.
Photo: Dreamstime.
Freight rates saw significant declines on key trade routes. Shanghai to Los Angeles dropped by 11% ($411) to $3,477 per 40ft container, while Shanghai to New York fell by 10% ($533) to $4,593 per 40ft container. Rates from Shanghai to Genoa declined by 2% ($90) to $3,747 per 40ft container, and those from Shanghai to Rotterdam and Rotterdam to New York dropped by 1% to $2,586 and $2,374 per 40ft container, respectively. Conversely, rates on Rotterdam to Shanghai and New York to Rotterdam rose by 1% to $503 and $835 per 40ft container. Rates from Los Angeles to Shanghai remained unchanged. Drewry anticipates further declines in the coming week due to increasing shipping capacity.
Table: Drewry.
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