Drewry: World Container Index down by 4% last week

LONDON : Drewry’s World Container Index decreased 4% to $3,216 per 40ft container last week.

• The latest Drewry WCI composite index of $3,216 per 40ft container is 69% below the previous pandemic peak of $10,377 in September 2021, but it is 126% more than the average 2019 (pre-pandemic) rate of $1,420.
• The average composite index for the year-to-date is $4,058 per 40ft container, which is $1,225 higher than the 10-year average rate of $2,834 (inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Genoa decreased 9% or $346 to $3,438 per 40ft container, while rates from Shanghai to Rotterdam dropped 6% or $218 to $3,373 per 40ft container. Likewise, rates from Shanghai to New York fell 3% or $152 to $5,609 per 40ft container and those from Shanghai to Los Angeles declined 2% or $78 to $4,941 per 40ft container. Conversely, rates from Rotterdam to Shanghai increased 1% or $4 to $547 per 40ft container. Meanwhile, rates from Los Angeles to Shanghai, New York to Rotterdam and Rotterdam to New York remained stable. Drewry expects rates (ex-China) to continue with their marginal decline in the coming weeks.