Drewry’s composite World Container Index decreased by 1% to $1,741.44 per 40ft container this week.
Its detailed assessment for Thursday, 11 May 2023 states the following:
- The composite index has decreased by 1% this week, and has dropped by 77% when compared with the same week last year.
- The latest Drewry WCI composite index of $1,741 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021. It is 35% lower than the 10-year average of $2,688, indicating a return to more normal prices, but remains 23% higher than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $1,876 per 40ft container, which is $812 lower than the 10-year average ($2,688 mentioned above).
- The composite index decreased by 1% to $1,741.44 per 40ft container, and is 77% lower than the same week in 2022. Freight rates on Rotterdam – New York fell 5% or $253 to $4,530 per feu. Rates on New York – Rotterdam slid 4% to settle at $889 per 40ft box. Freight rates on Shanghai – Rotterdam contracted by 2% to $1,605 per 40ft container. Rates on Shanghai – Genoa had a meagre drop of 1% to $2,207 per feu. Rates on Shanghai – Los Angeles, Rotterdam – Shanghai, Los Angeles – Shanghai and Shanghai – New York hovered around the previous week’s level. Drewry expects East-West spot rates on routes other than the transatlantic to be stable in the next few weeks.
For more information: drewry.co.uk