Our detailed assessment

• The composite index decreased marginally by 0.5% this week, but, remains 79% higher than a year ago.
• The average composite index of the WCI, assessed by Drewry year-to-date, is $9,490 per 40ft container, which is $6,537 higher than the five-year average of $2,953 per 40ft container.
• Drewry’s World Container Index composite index decreased marginally by 0.5% to $9,376.70 per 40ft container but is 79% higher than the same week in 2021. Freight rates on Rotterdam – New York grew 2% or $140 to reach $6,455 per feu. Similarly, rates on New York – Rotterdam gained 3% to reach $1,276 per 40ft box. However, rates on Shanghai – Los Angeles and Shanghai – New York fell 1% each to $10,571 and $13,127 per 40ft container respectively. Similarly, rates on Shanghai – Genoa dropped 1% or $71 to reach $12,723 per feu. Spot rates on Rotterdam – Shanghai inched down 1% to $1,445. Rates on Shanghai – Rotterdam and Los Angeles – Shanghai hovered around the previous week’s level. Drewry expects rates to remain stable in the coming week.