SIMIC

DREWRY's composite World Container Index decreased by one per cent to US$1,790.36 per FEU this week, reported Hellenic Shipping News Worldwide.
While it decreased by one per cent this week, it also plunged 80 per cent when compared with the same week last year.
The latest Drewry WCI composite index of $1,790 per FEU is now 83 per cent below the peak of $10,377 reached in September 2021. It is 33 per cent lower than the 10-year average of $2,691, indicating a return to more normal prices, but remains 26 per cent higher than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $1,976 per FEU, which is $715 lower than the 10-year average $2,691 mentioned above.
The composite index remained down one per cent to $1,790.36 per FEU and is 80 per cent lower than the same week in 2022. Rates on Shanghai-New York slid two per cent or $45 to settle at $2,662 per FEU. Likewise, rates on Rotterdam-Shanghai fell two per cent.
Rates on Shanghai-Rotterdam and Shanghai-Genoa sank one per cent each to $1,553 and $2,256 per FEU, respectively. Similarly, rates on Los Angeles-Shanghai and Rotterdam-New York also contracted by one per cent each, to $1,070 and $5,326 per FEU, respectively.
Rates on Shanghai-Los Angeles and New York-Rotterdam hovered around the previous week's level. Drewry expects small week-on-week reductions in rates in the next few weeks.