The index was stable at $1,364 during the week. The index fell by 60percent in comparison to this week in the previous year.

The current Drewry WCI composite index of $1,364 for a 40-foot container is currently 4% lower than the median of the 2019 (pre-pandemic) rate of $1,420 and is the lowest rate in three years.

The composite index average to date is $1,720 for 40ft containers that is lower by $957 than the 10 year average that were $2,677 (which was increased because of the unusual 2021-22 Covid timeframe).

Shipping costs for Shanghai from Genoa fell by 3% (or $43 to $1,370) per 40 feet container.

Similar to rates for Los Angeles to Shanghai decreased by 22%, or 20 to $811 for each feu. In the same way, rates from Shanghai from Los Angeles decreased marginally by 11%, or $17-$1,979 for a 40ft container.

However, rates on New York to Rotterdam, Rotterdam to Shanghai, Rotterdam to New York and Shanghai to Rotterdam rose by 4% 3, 3% percent and 1% respectively to $703and $476. 1,024 and $1,564 per 40ft containers respectively. The rates on Shanghai between Shanghai and New York remain stable. Drewry expects rates for East-West spot staying close to the their current rates, over the next few weeks.

More information about the company: drewry.co.uk