Drewry Composite World Container Index Drops By 8% This Week

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Drewry’s composite World Container Index decreased by 8% to $4,941.91 per 40ft container this week.

Detailed assessment for Thursday, 15 September 2022

The composite index decreased by 8% this week, the 29th consecutive weekly decrease, and has dropped by 52% when compared with the same week last year.

The latest Drewry WCI composite index of $4,942 per 40-foot container is now 52% below the peak of $10,377 reached in September 2021, but it remains 34% higher than the 5-year average of $3,692.

The average composite index for the year-to-date is $7,779 per 40ft container, which is $4,087 higher than the five-year average ($3,692 mentioned above).

The composite index decreased by 8% to $4,941.91 per 40ft container, and is 52% lower than the same week in 2021. Freight rates on Shanghai – Los Angeles dropped 11% or $530 to $4,252 per feu. Spot rates on Shanghai – Rotterdam fell 10% or $764 to $6,671 per 40ft box. Rates on Shanghai – Genoa and Shanghai – New York dipped 7% and 5% to $ 7,353 and $8,477 per 40ft container respectively. Similarly, rates from Rotterdam – Shanghai decreased 2% to $1,059 per 40ft box. Rates on Rotterdam – New York fell 1% or $81 to $6,607 per feu. Rates on Los Angeles – Shanghai and New York – Rotterdam hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.

Spot freight rates by major route

Drewry assessment across eight major East-West trades:

Spot freight rates by route - assessed by Drewry

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Source: Drewry

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