According to Drewry, the composite World Container Index has decreased by 3.5% to $1,535.75 this week. It has dropped by 78.9% when compared with the same week last year.
The latest Drewry WCI composite index of $1,535.75 per 40-foot container is now 85% below the peak of $10,377 reached in September 2021. It is 43% lower than the 10-year average of $2,688, indicating a return to more normal prices, but remains 8% higher than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $1,822 per 40ft container, which is $866 lower than the 10-year average.
The composite index decreased by 3.5% to $1,535.75 per 40ft container, and is 78.9% lower than the same week in 2022. Freight rates on Shanghai – New York dropped 7% or $190 to reach $2,543 per feu. Similarly, rates on Shanghai – Los Angeles fell 6% or $104 to $1,642 per 40ft box. Also, rates on Shanghai – Genoa slid 3% to $2,075 per 40ft container. Freight rates on Shanghai – Rotterdam contracted 2% or $33 to $1,316 per feu. On the contrary, rates from New York – Rotterdam and Rotterdam – New York inched up by 2% and 1% to stand at $793 and $3,226 respectively.
However, rates from Rotterdam – Shanghai and Los Angeles – Shanghai remained stable at the previous week’s level. Drewry expects East-West spot rates to rise again on most routes in the next few weeks.
For more information: drewry.co.uk
