Drewry's Composite World Container Index continues downward trend

Source: Drewry World Container Index

Drewry’s composite World Container Index (WCI) fell 3.4% this week, 68.8% lower than the same week last year, and 84% below its peak of $10,377 reached in September 2021.

The latest Drewry WCI Composite Index of $1,680.73 per 40ft container is 37% below the 10-year average of $2,681, indicating a return to more normal prices, but still 18% higher. compared to the 2019 (pre-pandemic) average of $1,420.

The average composite index for the year-to-date is US$1,769 per 40ft container, $912 below the 10-year average of $2,681 mentioned above.

Rates on the Shanghai - Rotterdam route decreased by 10% to 1,449 USD/40ft container.

Spot rates on the Shanghai - Genoa route also decreased by 7% to 1,888 USD/FEU.

Rates on the Rotterdam - Shanghai route decreased by 3% and stood at 500 USD/40ft container.

Rates from New York - Rotterdam and Shanghai - New York routes decreased by 2% to 739 USD and 1% to 3,398 USD/40ft container, respectively.

Rates for Shanghai - Los Angeles route increased slightly by 2% to 2,254 USD/FEU.

Spot rates on the Los Angeles - Shanghai and Rotterdam - New York routes remain unchanged at last week's level.

Drewry expects East-West spot rates to remain stable in the next few weeks.

Source: Phaata.com (According to Drewry)

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