Drewry’s World Container Index decreased by 5% to $3,493 per 40ft container this week.

Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 29 February 2024

1. The composite index decreased by 5% to $3,493 per 40ft container this week and has increased by 88% when compared with the same week last year.
2. The latest Drewry WCI composite index of $3,493 per 40ft container is 146% more than average 2019 (pre-pandemic) rates of $1,420.
3. The average composite index for the year-to-date is $3,553 per 40ft container, which is $859 higher than the 10-year average rate of $2,694 (which was inflated by the exceptional 2020-22 Covid period).
4. Freight rates on Shanghai to Rotterdam decreased 7% or $277 to $3,944 per 40ft box. Likewise, rates from Shanghai to Genoa dropped 6% or $285 to $4,757 per feu. Followed by rates on Shanghai to Los Angeles which declined 4% or $197 to $4,486 per 40ft container. Similarly, rates from Shanghai to New York dropped 3% or $156 to $5,820 respectively. Conversely, rates on Los Angeles to Shanghai and New York to Rotterdam increased 2% or $11 and $10 to $719 and $633 per 40ft box. Likewise, rates Rotterdam to Shanghai and Rotterdam to New York swelled 1% or $5 and $16 to $915 and $2,220 per feu. Drewry expects slight decreases in spot rates from China over the next few weeks.

Source: The Drewry