Drewry’s composite World Container Index increased by 2.5% to $1,575.62 per 40ft container this week.
Our detailed assessment for Thursday, 27 July 2023
The composite index has increased by 2.5% to $1,575.62 this week, and has dropped by 76.7% when compared with the same week last year.
The latest Drewry WCI composite index of $1,575.62 per 40-foot container is now 85% below the peak of $10,377 reached in September 2021. It is 41% lower than the 10-year average of $2,684, indicating a return to more normal prices, but remains 11% higher than average 2019 (pre-pandemic) rates of $1,420.
Source: Drewry World Container Index, Drewry Supply Chain Advisors
The average composite index for the year-to-date is $1,770 per 40ft container, which is $914 lower than the 10-year average ($2,684 mentioned above).
The composite index increased by 2.5% to $1,575.62 per 40ft container and is 76.7% lower than the same week in 2022. Freight rates on Shanghai – Los Angeles soared by 6% or $122 to $2,087 per 40ft container. Likewise, Shanghai – New York rates rose by 5% or $143 to $3,049 per 40ft box. However, rates from Rotterdam – New York decreased by 3% to $50 to stand at $1,590 per feu. Furthermore, spot rates from New York – Rotterdam, Rotterdam – Shanghai, Shanghai – Genoa, Los Angeles – Shanghai and Shanghai – Rotterdam remained stable at the previous week’s level. Drewry expects East-West spot rates to decline marginally on most routes in the next few weeks.
Source: Drewry World Container Index, Drewry Supply Chain Advisors
If you need spot market container freight rate information on other routes to those below, find out more about our Container Freight Rate Insight online service, which covers over 720 global port pairs and has thousands of data points updated every month.
Source: Drewry
