Drewry : World Container Index down by 5% last week

LONDON : Drewry’s World Container Index decreased by 5% to $3,010 per 40ft container this week.

• The composite index decreased by 5% to $3,010 per 40ft container this week and has increased by 71% when compared with the same week last year.
• The latest Drewry WCI composite index of $3,010 per 40ft container is 112% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,453 per 40ft container, which is $752 higher than the 10-year average rate of $2,701 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Rotterdam and Shanghai to Genoa decreased 8% to $3,209 and $3,882 per 40ft box. Similarly, freight rates from Shanghai to Los Angeles dropped 4% or $148 to $3,934 per feu respectively. Followed by rates on Rotterdam to Shanghai which reduced 2% or $18 to $827 per 40ft container. Likewise, rates on Los Angeles to Shanghai and Shanghai to New York declined 1% to $701 and $5,376 per feu respectively. While rates on Rotterdam to New York and New York to Rotterdam increased 2% or $2,281 and $658 per 40ft container. Drewry expects a continuing decrease in spot freight rates from China in the coming week.