Drewry’s World Container Index Takes a Nosedive

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Drewry’s World Container Index decreased by 3% to $2,836 per 40ft container this week.

Detailed Assessment 

  • The composite index decreased by 3% to $2,836 per 40ft container this week and has increased by 66% when compared with the same week last year.
  • The latest Drewry WCI composite index of $2,836 per 40ft container is 100% more than the average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $3,372 per 40ft container, which is $666 higher than the 10-year average rate of $2,706 (which was inflated by the exceptional 2020-22 Covid period).
  • Freight rates from Shanghai to Genoa decreased 5% or $192 to $3,614 per feu. Similarly, rates from Shanghai to Rotterdam, Shanghai to Los Angeles, and Shanghai to New York dropped 3% to $3,078, $3,704 and $4,894 per 40ft box respectively. Likewise, rates from Rotterdam to Shanghai and New York to Rotterdam declined 2% to $794 and $622 per feu respectively. Also, rates from Rotterdam to New York fell 1% or $17 to $2,244 per 40ft box. At the same time, rates from Los Angeles to Shanghai remained stable at the previous week’s level. Drewry expects a minor decrease in spot freight rates in the coming week.

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Source: Drewry