Drewry WCI drops further on Chinese holiday, trend likely to continue

The index was 68 per cent below its previous pandemic peak of $10,377 in September 2021 but was 130 per cent higher than the pre-pandemic average of $1,420 in 2019.

The year-to-date average composite index is $3,638 per 40-foot container, $760 higher than the 10-year average of $2,878 (inflated by the exceptional 2020-22 COVID period).

Freight rates from Rotterdam to New York decreased by 10 per cent, or $263, to $2,469 per 40-foot container, while those from Shanghai to Rotterdam fell by 5 per cent, or $149, to $3,125 per 40-foot container. Rates from Rotterdam to Shanghai and Shanghai to Genoa reduced by 4 per cent to $498 and $4,236 per 40-foot container respectively, with those from Los Angeles to Shanghai having decreased by 2 per cent, or $14, to $707 per 40-foot container.

Furthermore, rates from New York to Rotterdam, Shanghai to Los Angeles, and Shanghai to New York fell by 1 per cent to $833, $4,717, and $6,212 per 40-foot container, respectively.

Drewry expects spot rates to decrease slightly in the coming week due to increased capacity.

ALCHEMPro News Desk (KUL)