Drewry: World Container Index Down by 3% Last Week

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Detailed assessment for Thursday, 28 March 2024:

  • The composite index decreased by 3% to $2,929 per 40ft container this week and has increased by 71% when compared with the same week last year.
  • The latest Drewry WCI composite index of $2,929 per 40ft container is 106% more than average 2019 (pre-pandemic) rates of $1,420.
  • The average composite index for the year-to-date is $3,413 per 40ft container, which is $709 higher than the 10-year average rate of $2,704 (which was inflated by the exceptional 2020-22 Covid period).
  • Freight rates from Shanghai to New York decreased 6% or $318 to $5,058 per feu. Likewise, rates on New York to Rotterdam and Shanghai to Los Angeles declined 3% to $637 and $3,825 per 40ft container respectively. Similarly, rates on Shanghai to Rotterdam, Rotterdam to Shanghai and Shanghai to Genoa dwindled 2% to $3,159, $814 and $3,806 per 40ft box respectively. Also, rates on Los Angeles to Shanghai and Rotterdam to New York shed 1% to $691 and $2,261 per feu respectively. Drewry expects a minor decrease in spot freight rates in the coming week.

Source: Drewry