Drewry: World Container Index Down 1% Last Week

LONDON : Drewry’s World Container Index decreased 1% to $5,736 per 40ft container last week.

Detailed assessment for Thursday, 01 August 2024

• The latest Drewry WCI composite index of $5,736 per 40ft container is 45% below the previous pandemic peak of $10,377 in September 2021, but it is 304% more than the average 2019 (pre-pandemic) rate of $1,420.
• The average composite index for the year-to-date is $3,946 per 40ft container, which is $1,161 higher than the 10-year average rate of $2,785 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Los Angeles decreased 3% or $194 to $6,740 per 40ft container. Likewise, spot rates from Shanghai to Rotterdam and New York declined 1% to $8,200 and $9,166 per 40ft container respectively. Conversely, rates from New York to Rotterdam increased 4% or $32 to $768 per feu. Meanwhile, rates from Rotterdam to Shanghai, Shanghai to Genoa, Los Angeles to Shanghai and Rotterdam to New York remain stable. Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.