Drewry WCI further drops as shipping demand remains weak

21 Mar '25

2 min read

Drewry WCI further drops as shipping demand remains weak

Pic: Adobe Stock

Insights

Drewry World Container Index fell by 4.39 per cent to $2,264 per FEU as weak shipping demand persists despite recent rate declines.
The index remains 78 per cent below its 2021 peak but 59 per cent above pre-pandemic levels.
Routes from Shanghai to major ports saw notable drops, while Los Angeles to Shanghai remained stable.
Drewry forecasts a slight further decrease in rates in the coming weeks.

The Drewry World Container Index (WCI)—a composite measure of container freight rates—has declined further, falling by 4.39 per cent to $2,264 per 40-foot equivalent unit (FEU) on March 20, down from $2,368 per FEU the previous week. The global container freight market has shown no positive signs, despite several consecutive weeks of decline. Freight rates may ease slightly further, as shipping demand remains very weak compared to the higher available capacity.

According to the weekly report, the index is 78 per cent below its pandemic peak of $10,377 in September 2021 and at its lowest since January 2024. However, it is still 59 per cent higher than the pre-pandemic average of $1,420 in 2019.

The average year-to-date (YTD) composite index stood at $3,127 per 40-foot container, which is $242 higher than the 10-year average of $2,885 (inflated by the exceptional COVID period of 2020–22).

Freight rates from Shanghai to Los Angeles dropped by 9 per cent or $248 to $2,658 per 40-foot container, while rates from Shanghai to New York fell by 7 per cent or $264 to $3,774 per 40-foot container. Similarly, rates from Shanghai to Rotterdam and from Rotterdam to New York decreased by 2 per cent to $2,463 and $2,316 per 40-foot container, respectively. Rates from Rotterdam to Shanghai, New York to Rotterdam, and Shanghai to Genoa declined by 1 per cent to $484, $846, and $3,286 per 40-foot container, respectively.

Meanwhile, rates from Los Angeles to Shanghai remained stable. Drewry expects rates to decrease slightly in the coming weeks.

Fibre2Fashion News Desk (KUL)

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