Drewry: World Container Index Drops By 2%

Drewry’s World Container Index decreased 2% to $5,806 per 40ft container this week.

Detailed assessment for Thursday, 25 July 2024

• The composite index decreased 2% this week to $5,806 per 40ft container following a period of continuous increases since week 18, and has increased 268% when compared with the same week last year.
• The latest Drewry WCI composite index of $5,806 per 40ft container is 44% below the previous pandemic peak of $10,377 in September 2021, but it is 309% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,886 per 40ft container, which is $1,108 higher than the 10-year average rate of $2,777 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from New York to Rotterdam increased 4% or $26 to $736 per FEU. Likewise, rates from Rotterdam to New York and Los Angeles to Shanghai rose 1% to $1,954 and $706 per 40ft box respectively. Conversely, rates from Shanghai to Los Angeles decreased 5% or $354 to $6,934 per 40ft box. Similarly, rates from Shanghai to New York dropped 4% or $399 to $9,213 per 40ft container. Likewise, rates from Shanghai to Genoa declined 1% or $82 to $7,645 per FEU. Meanwhile, rates from Rotterdam to Shanghai and Shanghai to Rotterdam remain stable. Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.

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Source: Drewry

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