Drewry: World Container Index Up 6% Last Week

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Drewry’s World Container Index increased by 6% to $1,461 per 40ft container this week.

Detailed assessment for Thursday, 07 December 2023

  • The composite index increased by 6% to $1,461 this week and has dropped by 32% when compared with the same week last year.
  • The latest Drewry WCI composite index of $1,461 per 40-ft container is now 3% more than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $1,677 per 40ft container, which is $995 lower than the 10-year average rate of $2,672 (which was inflated by the exceptional 2020-22 Covid period).
  • Freight rates on Shanghai to Rotterdam and Shanghai to Genoa increased by 15% to $1,343 and $1,608 per feu respectively. Likewise, rates on Shanghai to New York increased by 7% or $184 to $2,747 per 40ft container. Similarly, rates on Los Angeles to Shanghai and Rotterdam to New York increased by 1% to $753 and $1,505 per 40ft box respectively. While rates on Rotterdam to Shanghai decreased by 5% to $443 per feu. Likewise, rates on Shanghai to Los Angeles decreased by 2% or $32 to $1,939 per 40 ft box. Rates on New York to Rotterdam remain stable. Drewry anticipates East-West spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.

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Source: Drewry