Drewry’s composite World Container Index decreased by 2% to $1,716.85 per 40ft container this week. The composite index has decreased by 2% this week, and has dropped by 79% when compared with the same week last year.
The latest Drewry WCI composite index of $1,717 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021. It is 36% lower than the 10-year average of $2,690, indicating a return to more normal prices, but remains 21% higher than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $1,917 per 40ft container, which is $751 lower than the 10-year average ($2,690 mentioned above).
The composite index decreased by 2% to $1,716.85 per 40ft container, and is 79% lower than the same week in 2022. Rates on Shanghai – Los Angeles decreased by 6% or $122 to settle at $1,775 per 40ft box. Freight rates on New York – Rotterdam fell 5% to $1,097 per 40ft container. Likewise, rates on Shanghai – New York dipped 4% or $104 to $2,494 per feu. Rates on Rotterdam – New York slid 2% to $4,978 per 40ft box. Rates on Shanghai – Rotterdam and Los Angeles – Shanghai contracted 1% each to $1,479 and $1,069 per 40ft container, respectively. However, rates on Shanghai – Genoa inched up by 2% to $2,285 and those on Rotterdam – Shanghai by 1% to $693 per feu. Drewry expects small week-on-week reduction in rates in the upcoming weeks.
If you need spot market container freight rate information on other routes to those below, find out more about our Container Freight Rate Insight online service, which covers over 720 global port pairs and has thousands of data points updated every month.
For more information: drewry.co.uk