Drewry’s World Container Index inched up 1% to $5,901 per 40ft container this week.
Detailed assessment for Thursday, 11 July 2024
- The composite index inched up 1% to $5,901 per 40ft container this week and has increased 297% when compared with the same week last year.
- The latest Drewry WCI composite index of $5,901 per 40ft container is 43% below the previous pandemic peak of $10,377 in September 2021, but it is 315% more than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $3,744 per 40ft container, which is $981 higher than the 10-year average rate of $2,763 (which was inflated by the exceptional 2020-22 Covid period).
- Freight rates from New York to Rotterdam surged 4% or $26 to $682 per 40ft container. Similarly, rates from Shanghai to New York rose 3% or $229 to $9,387 per 40ft box. Likewise, rates from Shanghai to Genoa and Shanghai to Los Angeles increased 1% to $7,614 and $7,512 per feu. Conversely, rates from Rotterdam to Shanghai decreased 2% or $12 to $631 per 40ft box. Rates from Rotterdam to New York dropped 1% or $22 to $1,955 per FEU. Meanwhile, rates from Shanghai to Rotterdam and Los Angeles to Shanghai remain stable. Drewry expects freight rates to remain high until the end of the peak season.
Spot freight rates by major route
Our assessment across eight major East-West trades:
Source: Drewry Supply Chain Advisors
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Source: Drewry
