The index was 75 per cent below the pandemic peak of $10,377 in September 2021, marking its lowest level since May 2024. However, it remains 85 per cent higher than the pre-pandemic average of $1,420 in 2019.
The Drewry World Container Index (WCI) fell by 5.93 per cent to $2,629 per FEU on February 27, continuing its decline since the Chinese Lunar New Year.
Freight rates dropped on major routes due to weak demand and increased shipping capacity.
The index remains 75 per cent below its 2021 peak but 85 per cent above pre-pandemic levels.
Drewry expects further declines in the coming week.
The average year-to-date (YTD) composite index is $3,372 per 40ft container, $489 higher than the 10-year average of $2,882 (inflated by the exceptional 2020–2022 COVID period).
Freight rates from Shanghai to Los Angeles decreased by 11 per cent, or $411, to $3,477 per 40ft container, followed closely by rates from Shanghai to New York, which dropped by 10 per cent, or $533, to $4,593 per 40ft container. Likewise, rates from Shanghai to Genoa fell by 2 per cent, or $90, to $3,747 per 40ft container, while rates from Shanghai to Rotterdam and from Rotterdam to New York declined by 1 per cent to $2,586 and $2,374 per 40ft container, respectively.
Conversely, rates from Rotterdam to Shanghai and from New York to Rotterdam increased by 1 per cent to $503 and $835 per 40ft container, respectively. Meanwhile, rates from Los Angeles to Shanghai remained stable.
Drewry expects rates to continue decreasing next week due to increased shipping capacity.
Fibre2Fashion News Desk (KUL)
