Drewry: World Container Index Up 16% Last Week

Drewry’s World Container Index increased 16% to $3,159 per 40ft container this week.

Detailed assessment for Thursday, 09 May 2024

• The composite index increased 16% to $3,159 per 40ft container this week and has increased by 81% when compared with the same week last year.
• The latest Drewry WCI composite index of $3,159 per 40ft container is 122% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,227 per 40ft container, which is $512 higher than the 10-year average rate of $2,714 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Rotterdam increased 20% or $606 to $3,709 per 40ft container. Similarly, rates from Shanghai to Los Angeles surged 18% or $617 to $3,988 per feu. Likewise, rates from Shanghai to Genoa and Shanghai to New York spiked 16% to $4,295 and $5,089 per 40ft box respectively. Moreover, rates from New York to Rotterdam inched up 1% or $4 to $629 per container. Conversely, rates from Rotterdam to New York decreased 2% or $50 to $2,160 per 40ft box. Likewise, rates from Rotterdam to Shanghai declined 6% or $44 to $695 per feu. While rates from Los Angeles to Shanghai remain stable. Drewry expects freight rates ex-China to continue increasing in the upcoming week amid a huge demand spike and tight capacity.

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Source: Drewry

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