The Drewry WCI composite index decreased 2% to $3,364 per 40ft container this week, 68% below the previous pandemic peak of $10,377 in September 2021, but was 137% higher than the average $1,420 in 2019 (pre-pandemic).
The average year-to-date composite index is $3,711 per 40ft container, $835 higher than the 10-year average of $2,876, inflated by the exceptional 2020-22 Covid period.
Freight rates from Shanghai to Rotterdam decreased 5% or $160 to $3,274 per 40ft container, while those from Shanghai to Genoa fell 4% or $162 to $4,400 per 40ft container.
Similarly, rates from Rotterdam to New York reduced by 2% or $46 to $2,732 per 40ft container followed by rates from Shanghai to New York and Shanghai to Los Angeles, which decreased 1% to $6,288 and $4,771 per 40ft container, respectively.
Conversely, spot rates from New York to Rotterdam increased 2% or $18 to $839 per 40ft container and rates from Rotterdam to Shanghai rose 1% or $3 to $518 per 40ft container.
Meanwhile, rates from Los Angeles to Shanghai remained stable. Drewry expects spot rates to decrease slightly in the coming week due to the increase in capacity.
