Drewry’s World Container Index increased 16% to $4,072 per 40ft container this week

• The composite index increased 16% to $4,072 per 40ft container this week and has increased by 142% when compared with the same week last year.
• The latest Drewry WCI composite index of $4,072 per 40ft container is 187% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,280 per 40ft container, which is $559 higher than the 10-year average rate of $2,717 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Rotterdam increased 20% or $827 to $4,999 per 40ft container. Similarly, rates from Shanghai to Los Angeles increased 18% or $801 to $5,277 per feu. Likewise, rates from Shanghai to Genoa climbed 15% or $718 to $5,494 per 40ft box. Correspondingly, rates from Shanghai to New York surged 13% or $746 to $6,463 per 40ft container. Also, Rotterdam to New York rates increased 1% or $32 to $2,241 per feu. Conversely, rates from Rotterdam to Shanghai decreased 1% or $6 to $673. While rates from Los Angeles to Shanghai and New York to Rotterdam remain stable. Drewry expects the spike in spot freight rates to lessen in the next few months.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Ocean spot market freight rates against 790 global port pairs