Drewry’s World Container Index decreased by 2% to $1,469 per 40ft container this week.

Our detailed assessment for Thursday, 16 November 2023

• The composite index decreased by 2% to $1,469 this week and has dropped by 43% when compared with the same week last year.
• The latest Drewry WCI composite index of $1,469 per 40-foot container is now 3% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $1,695 per 40ft container, which is $980 lower than the 10-year average rates of $2,675 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates on Shanghai to Rotterdam decreased by 4% to $1,227 per 40ft container. Likewise, rates on Shanghai to Los Angeles declined by 3% or $79 to $2,208 per 40ft box.

Similarly rates on Shanghai to New York diminished by 2% or $40 to $2,621 per feu. Conversely rates on New York to Rotterdam increased by 2% or $12 to $614 per 40ft container.

Likewise, rates on Rotterdam to Shanghai and Rotterdam to New York inched up 1% to $466 and $1,510 per 40ft box respectively. However, rates on Los Angeles to Shanghai remained stable to its previous week’s level. Drewry anticipates East-West spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.

Source: Drewry