Container freight rates weaken as WCI and FBX extend declines

Global container freight rates remained under pressure in the latest weekly assessments, with Drewry’s World Container Index (WCI) and the Freightos Baltic Index (FBX) recording further declines, while Chinese freight benchmarks and individual trade lanes showed contrasting movements. Drewry’s WCI decreased 1% to US$4,389 per 40-foot container, while the FBX Global Container Freight Index fell 2% to US$3,452. Both benchmarks declined for a second consecutive week, following the increases recorded earlier in October. Meanwhile, the China Containerized Freight Index (CCFI) rose 2. 28%, contrasting with declines in the Shanghai Containerized Freight Index (SCFI) and Ningbo Containerized Freight Index (NCFI).