Drewry’s World Container Index decreased by 5% to $3,493 per 40ft container this week.
Detailed assessment for Thursday, 29 February 2024
- The composite index decreased by 5% to $3,493 per 40ft container this week and has increased by 88% when compared with the same week last year.
- The latest Drewry WCI composite index of $3,493 per 40ft container is 146% more than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $3,553 per 40ft container, which is $859 higher than the 10-year average rate of $2,694 (which was inflated by the exceptional 2020-22 Covid period).
- Freight rates on Shanghai to Rotterdam decreased 7% or $277 to $3,944 per 40ft box. Likewise, rates from Shanghai to Genoa dropped 6% or $285 to $4,757 per feu. Followed by rates on Shanghai to Los Angeles which declined 4% or $197 to $4,486 per 40ft container. Similarly, rates from Shanghai to New York dropped 3% or $156 to $5,820 respectively.
- Conversely, rates on Los Angeles to Shanghai and New York to Rotterdam increased 2% or $11 and $10 to $719 and $633 per 40ft box. Likewise, rates Rotterdam to Shanghai and Rotterdam to New York swelled 1% or $5 and $16 to $915 and $2,220 per feu. Drewry expects slight decreases in spot rates from China over the next few weeks.
Did you subscribe to our daily Newsletter?
It’s Free! Click here to Subscribe!
Source: Drewry
