Latest World Container Index: 08 Feb Update

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Mfame Editor
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153

This week, Drewry’s World Container Index experienced a 1% decline, settling at $3,786 per 40ft container.

  • As of Thursday, February 8, 2024, the composite index experienced a 1% decrease, settling at $3,786 per 40ft container this week, marking a 90% increase compared to the same period last year.
  • The latest Drewry WCI composite index, standing at $3,786 per 40ft container, reflects a significant 167% rise from the average pre-pandemic rate of $1,420 in 2019.
  • The year-to-date average composite index is $3,515 per 40ft container, which surpasses the 10-year average rate of $2,686 by $829, largely influenced by the exceptional conditions during the 2020-22 Covid period.
  • Freight rates from Shanghai to Genoa saw an 11% decrease, amounting to $5,225 per 40ft box, while rates from Shanghai to Rotterdam dropped by 5% to $4,426 per feu. Rates from New York to Rotterdam and from Los Angeles to Shanghai decreased by 4% and 1%, respectively, while rates from Rotterdam to New York surged by 24%. Rates from Shanghai to Los Angeles increased by 8%, and rates from Rotterdam to Shanghai and from Shanghai to New York grew by 3% and 2%, respectively. Spot rates ex-China are expected to remain steady next week due to the Chinese New Year holidays.

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Source: drewry

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