Drewry’s World Container Index – 17 Aug

Drewry’s composite World Container Index increased by 2.3% to $1,832.48 per 40ft container this week.

The composite index has increased by 2.3% to $1,832.48 this week, and has dropped by 70.6% when compared with the same week last year.

The latest Drewry WCI composite index of $1,832.48 per 40-foot container is now 82% below the peak of $10,377 reached in September 2021. It is 32% lower than the 10-year average of $2,683, indicating a return to more normal prices, but remains 29% higher than average 2019 (pre-pandemic) rates of $1,420.

The average composite index for the year-to-date is $1,773 per 40ft container, which is $910 lower than the 10-year average ($2,683 mentioned above).

The composite index increased by 2.3% to $1,832.48 per 40ft container and is 70.6% lower than the same week in 2022. Freight Rates on Shanghai – Rotterdam increased by 6% or $95 to $1,768 per 40ft container. Similarly, spot rates on Shanghai – New York grew 5% or $182 to $3,545 per feu. Likewise rates on Rotterdam – Shanghai rose by 2% or $13 to $539 per 40ft box and rates on Shanghai – Genoa surged by 1% or $14 to $2,086 per 40ft container. Conversely, rates on Rotterdam – New York decreased by 1% or $16 to $1,577 per feu. Moreover, spot rates from Shanghai – Los Angeles, Los Angeles – Shanghai and New York – Rotterdam remained static at the previous week’s level. Drewry expects East-West spot rates to remain stable in the next few weeks.
Source: Drewry