Drewry’s World Container Index Drops This Week

Friday, 07 July 2023

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Drewry’s composite World Container Index (WCI) decreased by 2% to US$1,685.32 per 40ft container this week.

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Source: Drewry World Container Index, Drewry Supply Chain AdvisorsThe index has dropped by 78% when compared with the same week last year. The latest Drewry WCI composite index of US$1,685 per 40-foot container is now 84% below the peak of $10,377 reached in September 2021.

Additionally, it is 37% lower than the 10-year average of US$2,688, indicating a return to more normal prices, but remains 19% higher than average 2019 rates of US$1,420.

The average composite index for the year-to-date is US$1,859 per 40ft container, which is US$828 lower than the 10-year average.

Meanwhile, freight rates on Rotterdam – New York fell 10% or US$465 to US$3,969 per FEU, while rates on Shanghai – New York slid by 2% to settle at US$2,760 per 40ft box.

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Apart from the above trades, rates dipped by a meager 1% on the majority of others. Rates on Shanghai – Genoa and Shanghai – Rotterdam dropped to US$2,169 and US$1,530 per 40ft container, respectively.

Similarly, rates on Shanghai – Los Angeles and Los Angeles – Shanghai fell to US$1,798 and US$1,023 per FEU, respectively and those on Rotterdam – Shanghai dropped to US$587 per 40ft box.

https://container-news.com/wp-content/uploads/2023/05/drewrys2.png

Source: Drewry World Container Index, Drewry Supply Chain Advisors

However, rates on New York – Rotterdam inched up 1% to $844 per FEU with Drewry expecting East-West spot rates on routes other than the transatlantic to be stable in the next few weeks.

Spot freight rates by major route - Drewry's assessment across eight major East-West trades:

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Source : https://container-news.com

 

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