Drury announced the latest world Container Rate Index (WCI), down 2%, the composite index fell to $2,046.51; Ningbo Shipping Exchange released the NCFI freight index fell 1 percent from last week.(For more information on international maritime logistics, follow Eman Supply Chain)

It seems that a large number of shipping companies around the Spring Festival to control capacity did not meet the expectations of maintaining relatively stable freight rates.

In this period, the composite index, except for the Shanghai to the United States, rose 1 percent, all other routes were in decline.

The Drury WCI Composite index of $2,046 per large box is 80 per cent below the peak of $10,377 reached in September 2021 and 24 per cent below the nearly 10-year average of $2,694, indicating a return to more normal prices but still 46 per cent above the 2019 pre-pandemic average of $1,420.

Shanghai - Los Angeles freight increased 1% to $2,072 per container;

Shanghai-rotterdam freight dropped 4% to $1,741 per container;

Freight between Shanghai and New York dropped 6%, or $191, to $3,241 per carton.

The freight from Shanghai to Genoa remains the same as the previous shipment at US $2778 per carton.

Shanghai - Los Angeles freight increased 1% to $2,072 per container;

Shanghai-rotterdam freight dropped 4% to $1,741 per container;

Freight between Shanghai and New York dropped 6%, or $191, to $3,241 per carton.

The freight from Shanghai to Genoa remains the same as the previous shipment at US $2778 per carton.

European route: Many upstream and downstream enterprises in the bulk transport market have not finished the Spring Festival holiday, and the booking price of European route market is stable on the whole. The European freight index stood at 658.3 points, down 1.1% from last week. The freight index for the route to the east was 1043.8 points, up 1.4% from last week; The Tiexi freight index was 1190.2 points, down 0.4% from the previous week.

North American route: market supply and demand did not change significantly, the overall airline freight stable fluctuation. The U.S.-East freight index stood at 891.7 points, down 1.6% from last week. The U.S. -West freight index was 768.2 points, down 1.3 percent from the previous week.

Middle East route: liner cargo for pre-holiday hoarding, spot market booking prices fell slightly. The Middle East route index was 667.7 points, down 3.1 percent from last week.

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