Drewry’s World Container Index increased by 5% to $3,964 per 40ft container this week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 25 January 2024

• The composite index increased by 5% to $3,964 per 40ft container this week and has increased by 94% when compared with the same week last year.
• The latest Drewry WCI composite index of $3,964 per 40ft container is the highest since October 2022 and is 179% more than average 2019 (pre-pandemic) rates of $1,420.
• The average composite index for the year-to-date is $3,371 per 40ft container, which is $690 higher than the 10-year average rate of $2,681 (which was inflated by the exceptional 2020-22 Covid period).
• Freight rates on Shanghai to Los Angeles increased by 13% or $484 to $4,344 per 40ft container. Followed by rates on Shanghai to New York which surged by 9% or $499 to $6,143 per 40ft box. Likewise, rates on Rotterdam to Shanghai and Rotterdam to New York swelled by 5% to $1,028 and $1,576 per feu respectively. Similarly rates on Shanghai to Rotterdam, Shanghai to Genoa and New York to Rotterdam inched up by 1% to $4,984, $6,365 and $615 per 40ft box respectively. While rates on Los Angeles to Shanghai remained stable. Drewry expects spot rates to plateau or decline in the next few weeks on the routes from Asia.
• Source: Drewry