Drewry's detailed assessment for Thursday, 23 February 2023 showed that the composite index has decreased by 3% this week, and has dropped by 80% when compared with the same week last year.
The latest Drewry WCI composite index of $1,898 per 40-foot container is now 82% below the peak of $10,377 reached in September 2021. It is 30% lower than the 10-year average of $2,692, indicating a return to more normal prices, but remains 34% higher than average 2019 (pre-pandemic) rates of $1,420. The average composite index for the year-to-date is $2,035 per 40ft container, which is $657 lower than the 10-year average ($2,692 mentioned above).
The composite index remained decreased by 3% to $1,897.88 per 40ft container, and is 80% lower than the same week in 2022. Freight rates on all trades decreased marginally this week.
Source: drewry.co.uk