Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Drewry’s World Container Index decreased 13% to $4,168 per 40ft container

The World Container Index reported by Drewry experienced a 13% decline this week, dropping to $4,168 for a 40ft container.

Detailed assessment for Thursday, 12 September 2024

  • The latest Drewry WCI composite index of $4,168 per 40ft container is 60% below the previous pandemic peak of $10,377 in September 2021, but it is 193% more than the average 2019 (pre-pandemic) rate of $1,420.
  • The average composite index for the year-to-date is $4,128 per 40ft container, which is $1,310 higher than the 10-year average rate of $2,818 (inflated by the exceptional 2020-22 Covid period).
  • Freight rates from Shanghai to New York plunged 21% or $1,790 to $6,661 per 40ft container. Similarly, rates from Shanghai to Rotterdam contracted 17% or $1,067 to $5,152 per feu. Likewise, rates from Shanghai to Genoa declined 10% or $586 to $5,256 per 40ft box. Also, spot rates from Rotterdam to New York dropped 9% or $201 to $2,011 per 40ft container. Moreover, rates from Shanghai to Los Angeles fell 7% or $403 to $5,627 per 40ft box. Additionally, rates from New York to Rotterdam eased 4% or $28 to $704 per 40ft. Also, rates from Rotterdam to Shanghai shrank 1% or $6 to $606 per feu. Conversely, spot rates from Los Angeles to Shanghai increased 1% or $4 to $718 per 40ft box. Shippers are transferring their cargo from the US East Coast to the West Coast to avoid the planned ILA strike in October, resulting in a drop in demand. This resulted in a huge 21% decline in East Coast spot rates. Due to weak demand, Drewry expects East-West rates to decrease further in the upcoming weeks.

Spot freight rates by route

For more information:
Drewry Shipping Consultants Limited
Tel: +44 (0)207 538 0191
Email: [email protected]
www.drewry.co.uk

Publication date: