The Drewry’s World Container Index (WCI) saw yet another week of fall, by 7% to US$2,404, primarily on the back of tumbling rates in the China-Europe trade lanes.
The Drewry’s World Container Index has now seen 90% of its gains, from its quote at the onset of the pandemic to its peak level in 2021, erode in just 14 months, even as it took 22 months to scale up to its highest level.
The descent has been quicker than the rise, owing to an extremely weaker demand scenario, while the rise was...