Drewry’s World Container Index decreased 8% to $4,775 per 40ft container this week.
Detailed assessment for Thursday, 5 September 2024
- The latest Drewry WCI composite index of $4,775 per 40ft container is 54% below the previous pandemic peak of $10,377 in September 2021, but it is 236% more than the average 2019 (pre-pandemic) rate of $1,420.
- The average composite index for the year-to-date is $4,127 per 40ft container, which is $1,313 higher than the 10-year average rate of $2,814 (inflated by the exceptional 2020-22 Covid period).
- Freight rates from Shanghai to Rotterdam plunged 14% or $985 to $6,219 per 40ft container. Likewise, rates from Shanghai to Genoa declined 12% or $769 to $5,842 per feu. Similarly, spot rates from Shanghai to Los Angeles slid 3% or $218 to $6,030 per 40ft box. In the same way, rates from Shanghai to New York and Rotterdam to Shanghai decreased 2% to $8,451 and $612 per 40ft container, respectively. Likewise, spot rates from New York to Rotterdam dropped 1% or $11 to $732 per feu. Conversely, rates from Rotterdam to New York increased 16% or $304 to $2,212 per 40ft box. Likewise, spot rates from Los Angeles to Shanghai inched up 1% or $4 to $714, per 40ft container. Despite the looming threat of an ILA port strike, transpacific Eastbound freight rates have seen a slight dip this week. Drewry expects Asia-Europe rates to decline in the upcoming weeks.
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Source: Drewry
