Drewry's World Container Index falls in week 21

Source: Drewry World Container Index

The latest Drewry Composite World Container Index (WCI) of $1,685 per 40-foot container is now 84% below the peak of $10,377 reached in September 2021.

Additionally, the index is 37% below the 10-year average of $2,688, indicating a return to a more normal price level, but still 19% above the 2019 average of $1,420.

The year-to-date WCI average is $1,859 per 40ft container, $828 below the 10-year average.

Meanwhile, freight rates for the Rotterdam - New York route fell 10%, or $465, to $3,969/FEU, while the Shanghai - New York rate dropped 2% to $2,760/40ft container.

In addition to the above routes, freight rates are slightly reduced by 1% for most other routes. Rates on the Shanghai - Genoa and Shanghai - Rotterdam routes were reduced to $2,169 and $1,530 per 40ft container, respectively.

Similarly, rates on the Shanghai - Los Angeles and Los Angeles - Shanghai routes were reduced to $1,798 and $1,023/FEU, respectively, and rates on the Rotterdam - Shanghai route fell to $587/40ft container.

However, rates on the New York - Rotterdam route increased by 1% to 844 USD/FEU. Drewry expects spot rates on transatlantic routes to stabilize over the next few weeks.

See more:

• International shipping and logistics market update - Week 21/2023

Source: Phaata.com (According to Drewry)

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