The Drewry WCI composite index, which tracks the dynamics of spot rates for container shipping, has decreased by 12.9% in the first two months of 2023.
The most significant drop – by 27% – has been in the sub-index for routes from Asia to the US Atlantic Coast ports, and, as a result, it has fallen below the level of April 2020 (at the beginning of the sharp increase in freight rates). Sub-indexes for routes from Asia to Europe and from Europe to North America lost 15% each. The rates of shipping to Europe are already 2–3 times lower than pre-crisis ones.
The slightest decrease in the shipping market segment is observed on routes from Asia to the US Pacific Coast. The spot rates have dropped by less than 1% in the first two months of the year.