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World Container Index - 23 March

Composite index decreased to $1,756.83 per 40ft container, 79% lower than the same week in 2022

Drewry’s composite World Container Index decreased by 2% to $1,756.83 per 40ft container this week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 23 March 2023

  • The composite index has decreased by 2% this week, and has dropped by 79% when compared with the same week last year.
  • The latest Drewry WCI composite index of $1,757 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021. It is 35% lower than the 10-year average of $2,690, indicating a return to more normal prices, but remains 24% higher than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $1,957 per 40ft container, which is $733 lower than the 10-year average ($2,690 mentioned above).
  • The composite index decreased by 2% to $1,756.83 per 40ft container, and is 79% lower than the same week in 2022. Rates on Rotterdam – New York slid by 5% or $265 to settle at $5,061 per 40ft box. Freight rates on Shanghai – Rotterdam fell 4% to $1,490 per 40ft container. Likewise, rates on Shanghai – New York dipped 2% to $2,598 per feu. Rates on Shanghai – Los Angeles and New York – Rotterdam contracted 1% to $1,897 and $1,153 per 40ft container, respectively. However, rates on Rotterdam – Shanghai increased 1% to $693 per feu. Rates on Shanghai – Genoa and Los Angeles – Shanghai hovered around the previous week’s level. Drewry expects small week-on-week reductions in rates in the upcoming weeks.

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