Drewry’s World Container Index decreased by 6% to $1,384 per 40ft container last week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 23 November 2023

• The composite index decreased by 6% to $1,384 this week and has dropped by 42% when compared with the same week last year.
• The latest Drewry WCI composite index of $1,384 per 40-foot container is now 3% less than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $1,688 per 40ft container, which is $986 lower than the 10-year average rates of $2,674 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates on Shanghai to Los Angeles decreased by 9% or $208 to $2,000 per feu. Likewise, rates on Shanghai to Rotterdam dropped by 6% or $79 to $1,148 per 40 ft container. Followed by rates on Shanghai to Genoa which declined by 5% or $76 to $1,373 per 40 ft box. Similarly rates on Shanghai to New York and Rotterdam to New York declined by 2% to $2,573 and $1,486 per feu respectively. Likewise rates on Los Angeles to Shanghai shrank by 1% to $765 per 40ft container. Conversely rates on Rotterdam to Shanghai increased by 2% to $474 per 40ft box. While rates on New York to Rotterdam remained stable. Drewry anticipates East-West spot rates on lanes to remain close to current levels, overall, in the upcoming weeks.

Source: Drewry