Container rates remain stable

Drewry’s World Container Index (WCI) remained stable for the week of Dec. 9-13, sitting at US$3,529 per 40-ft container compared to US$3,533 the week before.

The WCI is 66 per cent below the previous pandemic peak of US$10,377 in September 2021 but 148 per cent more than the average US$1,420 in 2019, pre-pandemic.

The average year-to-date composite index is US$3,949 per feu, which is US$1,091 higher than the 10-year average of US$2,858, which was inflated by the COVID-19 period.

Freight rates from New York to Rotterdam increased three per cent to US$830 per feu and those from Shanghai to Rotterdam are up two per cent to US$4,855. Likewise, rates from Rotterdam to Shanghai, Shanghai to Genoa, Los Angeles to Shanghai and Shanghai to New York inched up one per cent to US$520, US$5,526, US$726 and US$5,199 per feu, respectively.

Rates from Shanghai to Los Angeles decreased four per cent to US$3,582 per feu and those from Rotterdam to New York shrank one per cent to US$2,622.

Drewry expects spot rates to remain stable next week.