Drewry World Container Index Falls 1% to $3,413 per Container

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  • The Drewry World Container Index (WCI) decreased by 1%, standing at $3,413 per 40ft container.
  • Freight rates for some key routes saw slight increases, while others decreased.
  • The WCI remains significantly higher than pre-pandemic levels.

The Drewry World Container Index (WCI) decreased by 1% this week, now standing at $3,413 per 40-foot container. While this marks a decline from the previous week, the current rate is still notably higher than pre-pandemic levels, reports Drewry.

Drewry World Container Index – 21 November 2024

The Drewry World Container Index (WCI) decreased by 1% this week, now standing at $3,413 per 40-foot container. While this marks a decline from the previous week, the current rate is still notably higher than pre-pandemic levels. The index is 67% below the peak reached during the pandemic in September 2021, which was $10,377 per 40-foot container. However, it remains 140% above the pre-pandemic average of $1,420 in 2019.

The year-to-date (YTD) composite index stands at $3,980 per 40-foot equivalent unit (feu), which is $1,132 higher than the 10-year average of $2,848. This is largely due to the elevated freight rates seen during the Covid-19 pandemic period (2020-2022).

Freight Rate Movements

On specific trade routes, spot freight rates showed mixed trends. Notably, freight rates from Shanghai to Genoa increased by 3%, or $120, reaching $4,520 per feu. Rates from Shanghai to Rotterdam, New York to Rotterdam, and Rotterdam to New York all saw slight increases of 1%, reaching $4,071, $793, and $2,672 per feu, respectively.

On the other hand, rates from Shanghai to Los Angeles decreased by 5%, or $212, to $4,488 per feu, while rates from Rotterdam to Shanghai fell by 1%, or $4, to $517 per feu. Rates between Los Angeles and Shanghai, as well as Shanghai and New York, remained stable.

Market Outlook

Drewry predicts that spot rates will likely remain stable in the coming week, suggesting a relatively steady outlook for global container freight.

Spot Freight Rates by Major Route

  1. Shanghai to Genoa: +3%, $4,520 per feu
  2. Shanghai to Rotterdam: +1%, $4,071 per feu
  3. New York to Rotterdam: +1%, $793 per feu
  4. Rotterdam to New York: +1%, $2,672 per feu
  5. Shanghai to Los Angeles: -5%, $4,488 per feu
  6. Rotterdam to Shanghai: -1%, $517 per feu
  7. Los Angeles to Shanghai: Stable
  8. Shanghai to New York: Stable

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Source: Drewry