Drewry: World Container Index up 151% on a Yearly Basis

LONDON : Drewry’s World Container Index increased 4% to $4,226 per 40ft container last week.

• The composite index increased 4% to $4,226 per 40ft container this week and has increased 151% when compared with the same week last year.
• The latest Drewry WCI composite index of $4,226 per 40ft container is 198% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,323 per 40ft container, which is $598 higher than the 10-year average rate of $2,725 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to New York increased 6% or $372 to $6,835 per 40ft container. Likewise, rates from Shanghai to Rotterdam swelled 5% or $271 to $5,270 per feu. Similarly, rates from Shanghai to Genoa rose 4% or $199 to $5,693 per 40ft box. Also, rates from Shanghai to Los Angeles increased 2% or $113 to $5,390 per feu. Also, rates from Rotterdam to Shanghai inched up 1% or $4 to $677 per 40ft box. Conversely, rates from Rotterdam to New York decreased 1% or $19 to $2,222 per 40ft container. Meanwhile, rates from Los Angeles to Shanghai and New York to Rotterdam remain stable. Drewry expects freight rates ex-China to continue rising next week due to the onset of the early peak season.

Ocean spot market freight rates against 790 global port pairs