Drewry's Composite World Container Index rose 4% in week 16 (April 20)

The Drewry Composite World Container Index rose 4% in week 16 (April 20)

The composite index has increased by 4% this week, but has fallen 77% from the same week last year.

The latest Drewry Composite Container Rate Index of $1,774/FEU is now 83% below the peak of $10,377 reached in September 2021. This is 34% below the 10-year average of 2,688. USD, showing a trend towards a return to more normal levels, but still 25% above the 2019 (pre-pandemic) average of $1,420.

The composite freight rate index rose 4% to $1,773.58/FEU, but was 77% lower than in the same week in 2022. Transpacific eastbound rates rose, reflecting carrier performance increases General Rate Increases (GRI) from mid-April.

Container freight rates on the Shanghai-New York route increased 12% or $297 to $2,849 per FEU. Rates on the Shanghai - Los Angeles route increased 11%, or $182, to $1,856/FEU.

Rates on the Shanghai-Genoa route increased 1% to $2,268/FEU. Rates on the Shanghai – Rotterdam route fluctuated around last week's levels.

Rates on the Rotterdam - Shanghai and Los Angeles - Shanghai routes fell 4% to $618/FEU and $1,009/FEU, respectively.

Rates on the Rotterdam – New York route have now fallen for 19 consecutive weeks and are down 1% each week to $4,881/FEU. Prices on the New York - Rotterdam route fell 5% to $969/FEU.

Read more:

• International shipping and logistics market update - Week 16/2023

Source: Phaata.com (According to Drewry)

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