Drewry’s World Container Index decreased by 4% to $3,162 per 40ft container this week.
Detailed assessment for Thursday, 14 March 2024
- The composite index decreased by 4% to $3,162 per 40ft container this week and has increased by 77% when compared with the same week last year.
- The latest Drewry WCI composite index of $3,162 per 40ft container is 123% more than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $3,493 per 40ft container, which is $794 higher than the 10-year average rate of $2,699 (which was inflated by the exceptional 2020-22 Covid period).
- Freight rates from Shanghai to Rotterdam and Shanghai to Genoa decreased 5% to $3,473 and $4,223 per 40ft box. Similarly, freight rates from Shanghai to Los Angeles dropped 4% or $190 to $4,082 per feu respectively. Followed by rates on Rotterdam to Shanghai which reduced 2% or $16 to $845 per 40ft container. Likewise, rates on Los Angeles to Shanghai and Shanghai to New York declined 1% to $707 and $5,411 per feu respectively. While rates on Rotterdam to New York increased 2% or $50 to $2,242 per 40ft container. Similarly, freight rates from New York to Rotterdam grew 3% or $20 to $644 per 40ft box. Drewry expects spot rates ex-China to continue declining in the coming weeks, whereas freight rates on transatlantic will remain stable.
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Source: Drewry
