Drewry’s World Container Index increased 12% to $4,716 per 40ft container this week

As per Drewry, detailed assessment for  06 Jun 2024

• The composite index increased 12% to $4,716 per 40ft container this week and has increased 181% when compared with the same week last year.
• The latest Drewry WCI composite index of $4,716 per 40ft container is 232% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,384 per 40ft container, which is $654 higher than the 10-year average rate of $2,730 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Genoa increased 17% or $971 to $6,664 per 40ft container. Similarly, rates from Shanghai to Rotterdam increased 14% or $762 to $6,032 per feu. Likewise, rates from Shanghai to Los Angeles increased 11% or $585 to $5,975 per 40ft box. Also, rates from Shanghai to New York rose 6% or $379 to $7,214 per 40ft box. Conversely, rates from Rotterdam to Shanghai decreased 5% or $35 to $642 per feu. Also, rates from Rotterdam to New York dropped 4% or $86 to $2,136 per 40ft container. Meanwhile, rates from Los Angeles to Shanghai and New York to Rotterdam remain stable. Drewry expects freight rates ex-China to continue rising next week due to the onset of the early peak season.