Drewry: World Container Index Down By 3% Last Week

Large container ship arriving in port.

Drewry’s World Container Index decreased by 3% to $2,836 per 40ft container this week.

Detailed assessment for Thursday, 04 April 2024

  • The composite index decreased by 3% to $2,836 per 40ft container this week and has increased by 66% when compared with the same week last year.
  • The latest Drewry WCI composite index of $2,836 per 40ft container is 100% more than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $3,372 per 40ft container, which is $666 higher than the 10-year average rate of $2,706 (which was inflated by the exceptional 2020-22 Covid period).
  • Freight rates from Shanghai to Genoa decreased 5% or $192 to $3,614 per feu. Similarly, rates from Shanghai to Rotterdam, Shanghai to Los Angeles, and Shanghai to New York dropped 3% to $3,078,
  • $3,704 and $4,894 per 40ft box respectively. Likewise, rates from Rotterdam to Shanghai and New York to Rotterdam declined 2% to $794 and $622 per feu respectively. Also, rates from Rotterdam to New York fell 1% or $17 to $2,244 per 40ft box. At the same time, rates from Los Angeles to Shanghai remained stable at the previous week’s level. Drewry expects a minor decrease in spot freight rates in the coming week.

Source: Drewry