Drewry’s composite World Container Index decreased by 5% to $5,378.68 per 40ft container this week.
Detailed assessment
The composite index decreased by 5% this week, the 28th consecutive weekly decrease, and has dropped by 47% when compared with the same week last year.
The latest Drewry WCI composite index of $5,379 per 40-foot container is now 48% below the peak of $10,377 reached in September 2021, but it remains 46% higher than the 5-year average of $3,679.
The average composite index for the year-to-date is $7,858 per 40ft container, which is $4,179 higher than the five-year average ($3,679 mentioned above).
The composite index decreased by 5% to $5,378.68 per 40ft container, and is 47% lower than the same week in 2021. Freight rates on Shanghai – Los Angeles dropped 14% or $780 to $4,782 per feu. Spot rates on Rotterdam – Shanghai fell 9% or $108 to $1,082 per 40ft box. Rates on Shanghai – New York dipped 4% or $347 to $8,957 per 40ft container. Similarly, rates from Shanghai – Rotterdam and Rotterdam – New York decreased 2% each to $7,435 and $6,688 per 40ft box respectively. Rates on Shanghai – Genoa fell 1% or $87 to $7,884 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
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Source: Drewry
