Drewry WCI Drops 7%, Freight Rates Decline Across Major Lanes

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  • Drewry WCI Drops 7% to $2,368 Per 40ft Container.
  • Freight Rates Decline Across Major Trade Lanes.
  • Shanghai to Genoa Sees Largest Drop at 11%.

The World Container Index (WCI) has been the go-to global benchmark for index-linked contracts for several years. Entities looking for regional exposure beyond the eight most important trade lanes or considering index-linked contracts can get in touch with Drewry’s ocean freight cost benchmarking and procurement experts, reports Drewry.

WCI Slips 7% to $2,368 Per 40ft Box

The Drewry WCI composite index fell 7% this week, closing at $2,368 per 40ft container. This is a 77% fall from the pandemic high of $10,377 in September 2021 and the lowest since January 2024. The index is still 67% above the 2019 pre-pandemic average of $1,420.

The 10-year average of $2,884 is surpassed by the year-to-date (YTD) average of $3,205 per 40ft container, which is $321 above the 10-year average and is a figure that has been boosted by the record 2020-2022 Covid years.

Freight Rate Changes Across Key Trade Lanes

  1. Shanghai to Genoa – Decreased 11% ($412) to $3,333 per 40ft container.
  2. Shanghai to Los Angeles – Fell 8% ($260) to $2,906 per 40ft container.
  3. Shanghai to New York – Dropped 7% ($282) to $4,038 per 40ft container.
  4. Shanghai to Rotterdam – Declined 5% ($124) to $2,512 per 40ft container.
  5. Rotterdam to Shanghai – Increased 1% to $490 per 40ft container.
  6. New York to Rotterdam – Rose 1% to $854 per 40ft container.
  7. Rotterdam to New York – Up 1% to $2,373 per 40ft container.
  8. Los Angeles to Shanghai – remained stable.

Market Outlook: Rates Expected to Decline

With shipping capacity increasing, Drewry anticipates freight rates will recede next week, continuing the downward trend.

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Source: Drewry