Drewry WCI drops 7% amid falling spot rates

The Drewry World Container Index (WCI) fell 7% this week to $1,959 per 40ft container, marking the fourth consecutive weekly decline.

Spot rates from Shanghai to major US ports dropped sharply. Rates to Los Angeles fell 8% to $2,239, while shipments to New York declined 5% to $2,819. The usual pre-Lunar New Year cargo surge failed to materialise, weakening demand.

Carriers have responded by announcing a high number of blank sailings, 18, 27, and 28 over the next three weeks, to manage capacity. Drewry expects rates to fall further in the coming weeks.

Asia–Europe routes also saw lower rates. Shanghai–Rotterdam dropped 9% to $2,164 per 40ft container, and Shanghai–Genoa fell 7% to $3,048. Ahead of Chinese New Year, carriers announced 9, 16, and 9 blank sailings across these lanes.

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