Drewry's Composite World Container Index down 7% for the week of 46/2022

Phaata Phaata

The Drewry Composite World Container Index (WCI) was down 7% this week, its 38th straight week of decline, and down 72% from the same week last year.

Drewry's Composite World Container Index

 

Drewry's Composite World Container Index (Source: Drewry)

 

The latest Drewry Composite World Container Index of $2,591/40-foot container is currently 75% below the peak of $10,377 reached in September 2021. The price is 31% below the five-year average of $3,764, which shows a trend back to normal prices, but is still 82% above the 2019 (pre-pandemic) average rates of $1,420.

The year-to-date WCI average is $6,922 per 40ft container, $3,159 above the five-year average ($3,764 mentioned above).

The WCI index fell 7% to $2,591.41/40ft container (FEU) and 72% lower than the same period in 2021. Freight rates on the Shanghai-Rotterdam route fell 14% or $439/FEU. Spot rates on the Shanghai-Los Angeles and Shanghai-New York routes fell 6% to $2,130 and $5,045 per FEU.

Similarly, rates on the Shanghai-Genoa and Rotterdam-Shanghai routes fell 3% each to $3,404 and $840/FEU. Prices on the New York – Rotterdam, Rotterdam – New York and Los Angeles – Shanghai routes fluctuated around last week's levels. Drewry expects prices to decline at a slower rate over the next few weeks.

 

Source: Phaata.com (According to Drewry)

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