THE Drewry World Container Index decreased six per cent to US$2,629 per FEU, 75 per cent below the previous pandemic peak of $10,377 in September 2021 and lowest since May 2024.

However, the index was 85 per cent higher than the pre-pandemic average $1,420 in 2019 according to Drewry Supply Chain Advisors report of February 27.

The average year to date composite index is $3,372 per FEU, $489 higher than the 10-year average of $2,882 inflated by the exceptional 2020-22 Covid period.

Freight rates from Shanghai to Los Angeles decreased 11 per cent or $411 to $3,477 per FEU, closely followed by the rates on Shanghai to New York which decreased 10 per cent or $533 to $4,593 per FEU.

Likewise, rates from Shanghai to Genoa fell two per cent or $90 to $3,747 per FEU and those from Shanghai to Rotterdam and Rotterdam to New York reduced one per cent to $2,586 and $2,374 per FEU, respectively.

On the other hand, rates from Rotterdam to Shanghai and New York to Rotterdam increased one per cent to $503 and $835 per FEU, respectively. Meanwhile, rates from Los Angeles to Shanghai remained stable.