Drewry: World Container Index Down 3% Last Week

LONDON : Drewry’s World Container Index decreased 3% to $5,551 per 40ft container last week.

Drewry’s detailed assessment for Thursday, 08 August 2024

The latest Drewry WCI composite index of $5,551 per 40ft container is 47% below the previous pandemic peak of $10,377 in September 2021, but it is 291% more than the average 2019 (pre-pandemic) rate of $1,420.

The average composite index for the year-to-date is $3,996 per 40ft container, which is $1,204 higher than the 10-year average rate of $2,791 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Los Angeles and Shanghai to Genoa decreased 4% to $6,501 and $7,309 per 40ft container, respectively. Likewise, spot rates from Shanghai to Rotterdam and Shanghai to New York declined 3% to $7,929 and $8,931 per 40ft container, respectively. Conversely, rates from Rotterdam to New York and Rotterdam to Shanghai increased 1% to $1,967 and $630 per feu, respectively.

Meanwhile, rates from Los Angeles to Shanghai and New York to Rotterdam remain stable. Drewry believes that spot rates have peaked, but continued shipping disruptions will keep a floor under the spot rates for some time.