Drewry: World Container Index Up by 8% This Week

Drewry’s World Container Index increased 8% to $3,803 per 40ft container this week.

Detailed assessment for Thursday, 19 December 2024

• The Drewry WCI composite index increased 8% to $3,803 per feu, which is 63% below the previous pandemic peak of $10,377 in September 2021 but 168% more than the average $1,420 in 2019 (pre-pandemic).
• The average YTD composite index is $3,946 per feu, which is $1,084 higher than the 10-year average of $2,862 (inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Los Angeles increased 26% or $917 to $4,499 per feu and those from Shanghai to New York increased 17% or $875 to $6,074 per feu. Likewise, rates from Rotterdam to New York inched up 3% or $91 to $2,713 per feu. On the other hand, rates from Shanghai to Genoa and Rotterdam to Shanghai decreased 2% to $5,424 per feu and $508 per feu, respectively, and those from New York to Rotterdam and Shanghai to Rotterdam shrank 1% to $824 per feu and $4,819 per feu, respectively, whereas those from Los Angeles to Shanghai remained stable. Drewry expects an increase in rates on the Transpacific trade in the coming week, driven by front-loading ahead of the looming ILA port strike in January 2025 and the anticipated tariff hikes under the incoming Trump Administration.

Note: Due to the highly volatile market, Drewry revised the methodology of WCI in Week 20, 2021 by changing the criteria for ‘data outliers’ (data excluded from ‘average rate index’ calculation). We will reject data points only if they are 30% higher or lower than median instead of 20% higher or lower previously.

Spot freight rates by major route

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Source: Drewry

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