Drewry’s composite World Container Index increased by 1.7% to $1,790.60 per 40ft container this week.
Our detailed assessment for Thursday, 10 August 2023
Source: Drewry World Container Index, Drewry Supply Chain Advisors
The composite index has increased by 1.7% to $1,790.60 this week, and has dropped by 72.2% when compared with the same week last year.
The latest Drewry WCI composite index of $1,790.60 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021. It is 33% lower than the 10-year average of $2,684, indicating a return to more normal prices, but remains 26% higher than average 2019 (pre-pandemic) rates of $1,420.
The average composite index for the year-to-date is $1,771 per 40ft container, which is $913 lower than the 10-year average ($2,684 mentioned above).
The composite index increased by 1.7% to $1,790.60 per 40ft container and is 72.2% lower than the same week in 2022. Freight Rates on New York – Rotterdam increased by 8% or $61 to $798 per 40ft container. Similarly, spot rates on Shanghai – Rotterdam grew 3% or $53 to $1,673 per feu. Likewise rates on Shanghai – Los Angles rose by 2% or $40 to $2,362 per 40ft box and rates on Rotterdam – Shanghai, Los Angles – Shanghai, and Shanghai – New York surged by 1% to $526, $846 and $3,363 per 40ft container respectively. Moreover, spot rates from Shanghai – Genoa and Rotterdam – New York remained static at the previous week’s level. Drewry expects East-West spot rates to remain stable in the next few weeks.
Source: Drewry