Drewry: World Container Index Up 4% Last Week

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Drewry’s World Container Index increased 4% to $5,318 per 40ft container this week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Detailed assessment for Thursday, 27 June 2024

  • The composite index increased 4% to $5,318 per 40ft container this week and has increased 256% when compared with the same week last year.
  • The latest Drewry WCI composite index of $5,318 per 40ft container is 49% below the previous pandemic peak of $10,377 in September 2021, but it is 274% more than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $3,579 per 40ft container, which is $831 higher than the 10-year average rate of $2,748 (which was inflated by the exceptional 2020-22 Covid period).
  • Freight rates from Shanghai to Rotterdam increased 7% or $455 to $7,322 per 40ft container. Likewise, rates from Shanghai to Los Angeles and Shanghai to New York rose 4% to $6,673 and $7827 per 40ft box respectively. Similarly, rates from Rotterdam to Shanghai, Shanghai to Genoa and New York to Rotterdam grew 1% to $676, $7,102 and $640 per feu respectively. Conversely, rates from Rotterdam to New York decreased 2% or $49 to $2,044 per 40ft container. Meanwhile, rates from Los Angeles to Shanghai remain stable. Drewry expects minor increase in freight rates due to congestion at Asian ports.

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Source: Drewry