Drewry’s World Container Index decreased 2% to $5,428 per 40ft container this week.
Detailed assessment for Thursday, 15 August 2024
- The latest Drewry WCI composite index of $5,428 per 40ft container is 48% below the previous pandemic peak of $10,377 in September 2021, but it is 282% more than the average 2019 (pre-pandemic) rate of $1,420.
- The average composite index for the year-to-date is $4,039 per 40ft container, which is $1,242 higher than the 10-year average rate of $2,798 (which was inflated by the exceptional 2020-22 Covid period).
- Freight rates from Shanghai to Los Angeles decreased 3% or $198 to $6,303 per 40ft container. Similarly, rates from Shanghai to Rotterdam, Shanghai to Genoa and Shanghai to New York dropped 2% to $7,756, $7,182 and $8,764 per feu, respectively. Likewise, rates from New York to Rotterdam fell 1% or $4 to $762 per 40ft box. Meanwhile, rates from Rotterdam to Shanghai, Los Angeles to Shanghai and Rotterdam to New York remain stable. Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.
Spot freight rates by major route
Assessment across eight major East-West trades:
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Source: Drewry
