World Container Index – 13 Oct, 2022

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Drewry’s composite World Container Index decreased by 6% to $3,483.19 per 40ft container this week.

Our detailed assessment for Thursday, 13 October 2022

  • The composite index decreased by 6% this week, the 33rd consecutive weekly decrease, and has dropped by 65% compared to the same week last year.
  • The latest Drewry WCI composite index of $3,483 per 40-foot container is now 66% below the peak of $10,377 reached in September 2021. It is 7% lower than the 5-year average of $3,732, indicating a return to more normal prices, but remains 145% higher than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $7,402 per 40ft container, which is $3,670 higher than the five-year average ($3,732 mentioned above).
  • The composite index decreased by 6% to $3,483.19 per 40ft container and is 65% lower than the same week in 2021. Freight rates on Shanghai – Los Angeles dropped 13% or $376 to $2,619 per feu. Spot rates on Shanghai – New York fell 8% or $566 to $6,321 per 40ft box. Likewise, rates on Shanghai – Genoa and Shanghai – Rotterdam dipped 4% and 3% to $4,736 and $4,595 per 40ft container, respectively. Rates on Rotterdam – Shanghai slid 5% to $915 while Los Angeles – Shanghai rates slipped 4% to $1,175 per feu. However, rates from Rotterdam – New York gained 1% to $7,295 and rates from New York – Rotterdam grew 2% to $1,336 per 40ft container. Drewry expects the index to decrease in the next few weeks.

If you need spot market container freight rate information on other routes to those below, find out more about our Container Freight Rate Insight online service, which covers over 720 global port pairs and has thousands of data points updated monthly.

 

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Source: Drewry

 

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