
The world of ocean freight saw a notable shift this week as Drewry’s World Container Index (WCI) registered an 8% increase, bringing the composite rate to $3,803 per 40-foot equivalent unit (FEU). While these figures are a far cry from the pandemic-induced peak of $10,377 back in September 2021, they still stand 168% above the pre-pandemic average of $1,420 in 2019. These numbers tell a story of an industry grappling with a new normal, blending a touch of stability with persistent volatility.
Year-to-date, the average composite index sits at $3,946 per FEU, $1,084 higher than the 10-year average of $2,862—a figure heavily skewed by the extraordinary market conditions between 2020 and 2022. This backdrop sets the stage for a freight market that is neither fully settled nor entirely unpredictable.
Looking at specific routes, some intriguing trends have emerged. Rates from Shanghai to Los Angeles surged by an impressive 26%, translating to an increase of $917 per FEU to $4,499. Similarly, the Shanghai-to-New York route saw a 17% jump, or $875, bringing rates to $6,074 per FEU. On the European front, Rotterdam-to-New York rates inched up by 3%, adding $91 to hit $2,713 per FEU.

Not all routes followed this upward trajectory, however. Shanghai-to-Genoa rates dipped 2% to $5,424 per FEU, while Rotterdam-to-Shanghai saw a similar 2% decline, falling to $508 per FEU. Meanwhile, Los Angeles-to-Shanghai rates held steady, suggesting a mixed sentiment across the Pacific.
What’s driving these changes? Drewry points to a combination of factors, including front-loading of shipments ahead of a possible International Longshoremen’s Association (ILA) port strike in January 2025 and looming tariff hikes as part of policy shifts under the incoming Trump administration. These developments could further shake up the transpacific trade lanes in the coming weeks.
The methodology behind Drewry’s WCI has also evolved to accommodate a volatile market. Adjustments made in 2021 now reject data points only if they deviate 30% or more from the median, providing a broader lens for assessing outliers. This refinement ensures that the index remains a reliable barometer of the ocean freight market.
With over 790 global port pairs covered in Drewry’s monthly updates, the WCI continues to be a vital tool for industry players navigating fluctuating spot freight rates. Whether you’re shipping goods from Shanghai to Rotterdam or monitoring trends across East-West trades, these insights underline the complexities of today’s supply chain dynamics.
Source: Drewry