Drewry’s World Container Index inched up 1% to $5,937 per 40ft container this week.
Detailed assessment for Thursday, 18 July 2024
- The composite index inched up 1% to $5,937 per 40ft container this week and has increased 286% when compared with the same week last year.
- The latest Drewry WCI composite index of $5,937 per 40ft container is 43% below the previous pandemic peak of $10,377 in September 2021, but remains 318% higher than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $3,820 per 40ft container, which is $1,049 higher than the 10-year average rate of $2,770 (inflated by the exceptional 2020-22 Covid period).
- Freight rates from New York to Rotterdam increased 4% or $28 to $710 per FEU. Likewise, rates from Shanghai to Rotterdam rose 3% or $219 to $8,267 per 40ft box. Similarly, rates from Shanghai to New York spiked 2% or $225 to $9,612 per 40ft container. Rates from Shanghai to Genoa inched up 1% or $113 to $7,727 per FEU. Conversely, rates from Shanghai to Los Angeles fell 3% or $224 to 7,288 per 40ft box. Rates from Rotterdam to New York also dropped 1% or $12 to $1,943 per 40ft container. Meanwhile, rates from Rotterdam to Shanghai and Los Angeles to Shanghai remain stable. Drewry expects ex-China rates to hold steady next week and remain high throughout the peak season.
Spot freight rates by major route
The assessment across eight major East-West trades:
Source: Drewry Supply Chain Advisors
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Source: Drewry
