THE most recent Drewry WCI composite index, standing at US$1,384 per FEU, is currently three per cent lower than the average rates observed in 2019 before the Covid crisis, which stood at $1,420, according to Drewry.

The year-to-date average composite index is $1,688 per FEU, representing a $986 decrease compared to the 10-year average rates of $2,674.

Notably, the 10-year average was inflated by the exceptional Covid crisis period of 2020-22.

Specifically, freight rates from Shanghai to Los Angeles have decreased nine per cent, amounting to a $208 reduction to $2,000 per FEU.

Similarly, rates from Shanghai to Rotterdam have dropped six per cent, reflecting a $79 decrease to $1,148 per FEU.

Rates on the Shanghai to Genoa route have declined five per cent, translating to a $76 decrease to $1,373 per FEU.

Likewise, rates from Shanghai to New York and Rotterdam to New York have decreased two per cent, reaching $2,573 and $1,486 per FEU, respectively.

On the other hand, rates from Rotterdam to Shanghai have increased two per cent, reaching $474 per FEU.

Rates from New York to Rotterdam have remained stable, and Drewry expects east-west spot rates to stay close to their