The latest quote by the Drewry World Container Index (WCI) voiced the correction in spot prices after the massive 138% swing in 6 weeks witnessed between 15 December 2023 and 30 January 2024.
The WCI registered a 5% loss for the week, and at US$3,493 ended at a six week low. But in February though, the index lost over 8% with the primary laggards being the China- Europe and China-Mediterranean trade lane pairs, which lost 15-19% for the month. The transatlantic trade lane (Europe- US) registered...