This week, Drewry’s World Container Index increased 7% to $3,444 per 40ft container.
Detailed assessment for Thursday, 07 November 2024
- The Drewry WCI composite index increased 7% to $3,444 per feu, which is 67% below the previous pandemic peak of $10,377 in September 2021 but 142% more than the average $1,420 in 2019 (pre-pandemic).
- The average YTD composite index is $4,005 per feu, which is $1,162 higher than the 10-year average of $2,843 (inflated by the exceptional 2020-22 Covid period).
- Freight rates from Shanghai to Genoa jumped 21% or $751 to $4,399 per feu and those from Shanghai to Rotterdam surged 16% or $558 to $3,954 per feu. Similarly, rates from New York to Rotterdam increased 3% or $25 to $785 per feu. On the other hand, rates from Rotterdam to Shanghai decreased 3% or $19 to $524 per feu while those from Rotterdam to New York fell 2% or $40 to $2,624 per feu and those from Shanghai to Los Angeles dipped 1% or $33 to $4,806 per feu. Meanwhile, rates from Los Angeles to Shanghai and Shanghai to New York remained stable. Spot rates on the Asia-Europe trade lane increased for the second consecutive week and Drewry expects this uptrend to continue next week as well.
Spot freight rates by major route
Assessment across eight major East-West trades:
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Source: Drewry
