The World Container Index fell -11% WoW to $3,445 last week. The annual change has now turned negative, falling from 2% YoY in the week through January 16th to -13% YoY in the week through January 23rd.

The largest declines were seen in the routes from Shanghai, including a -19% WoW decline in the Shanghai-Rotterdam route and a -10% WoW decline in the Shanghai-Genoa route. There were also smaller declines in the Shanghai-LA (-8% WoW) and Shanghai-NY (-7% WoW).