The Drewry WCI composite index decreased 2% to $3,331 per feu, which is 68% below the previous pandemic peak of $10,377 in September 2021 but 134% more than the average $1,420 in 2019 (pre-pandemic).
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The average YTD composite index is $3,966 per feu, which is $1,116 higher than the 10-year average of $2,850 (inflated by the exceptional 2020-22 Covid period).
Table: Drewry.
Freight rates from Shanghai to Los Angeles decreased 5% or $238 to $4,250 per feu and those from Shanghai to Rotterdam fell 2% or $74 to $3,997 per feu. Likewise, rates from Shanghai to Genoa, Shanghai to New York and New York to Rotterdam shrank 1% to $4,490, $5,182 and $789 per feu, respectively. Meanwhile, rates from Rotterdam to Shanghai, Los Angeles to Shanghai and Rotterdam to New York remained stable. Drewry expects spot rates to remain stable next week.
More information:
Drewry
www.drewry.co.uk