The composite index increased by 4% to $1,521 this week and has dropped by 28% when compared with the same week last year.
The latest Drewry WCI composite index of $1,521 per 40-ft container is now 7% more than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $1,674 per 40ft container, which is $998 lower than the 10-year average rate of $2,672 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates on Shanghai to Rotterdam increased by 7% or $99 to $1,442 per feu.
Followed by rates on Shanghai to Genoa which swelled by 6% or $89 to $1,697 per 40ft box. Likewise, rates on Shanghai to New York rose by 4% or $104 to $2,851 per 40ft container. Similarly, rates on Rotterdam to Shanghai, Shanghai to Los Angeles and Los Angeles to Shanghai grew by 2% to $452, $1,985 and $770 per feu respectively. Also, rates on New York to Rotterdam increased by 1% or $3 to $591 per 40ft box. While rates on Rotterdam to New York remain stable. Drewry anticipates East-West spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.
For more information: drewry.co.uk