SIMIC

The composite index decreased three per cent this week, the 34th consecutive weekly decrease, and has dropped 66 per cent compared with the same week last year.

The latest Drewry WCI composite index of $3,383 per FEU is 67 per cent below the peak of $10,377 reached in September 2021.

It is 10 per cent lower than the five-year average of $3,740, indicating a return to more normal prices, but remains 138 per cent higher than average 2019 (pre-Covid crisis) rates of $1,420.

The average composite index for the year-to-date is $7,306 per FEU, which is $3,567 higher than the five-year average.

The composite index decreased three per cent to $3,383.46 per FEU and is 66 per cent lower than the same week in 2021.