Drewry’s World Container Index up 4% last Week

LONDON : Drewry’s World Container Index increased 4% to $3,213 per 40ft container this week.

Drewry’s detailed assessment for Thursday, 31 October 2024

• The Drewry WCI composite index increased 4% to $3,213 per feu, which is 69% below the previous pandemic peak of $10,377 in September 2021 but 126% more than the average 2019 (pre-pandemic) of $1,420.
• The average YTD composite index is $4,017 per FEU, which is $1,178 higher than the 10-year average of $2,839 (inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Genoa skyrocketed 11% or $352 to $3,648 per FEU and those from Shanghai to Rotterdam increased 8% or $264 to $3,396 per FEU. Rates from Shanghai to Los Angeles and Los Angeles to Shanghai also increased 1% to $4,839 and $718 per FEU, respectively, whereas those from Rotterdam to Shanghai decreased 1% or $5 to $543 per FEU. Meanwhile, rates from Shanghai to New York, New York to Rotterdam and Rotterdam to New York remained stable. After a decline since August, spot rates ex-China increased this week, and we expect this trend to continue as the Christmas rush intensifies.