Source: Drewry World Container Index, Drewry Supply Chain Advisors

Our detailed assessment for Thursday, 07 November 2024

• The Drewry WCI composite index increased 7% to $3,444 per feu, which is 67% below the previous pandemic peak of $10,377 in September 2021 but 142% more than the average $1,420 in 2019 (pre-pandemic).
• The average YTD composite index is $4,005 per feu, which is $1,162 higher than the 10-year average of $2,843 (inflated by the exceptional 2020-22 Covid period).
• Freight rates from Shanghai to Genoa jumped 21% or $751 to $4,399 per feu and those from Shanghai to Rotterdam surged 16% or $558 to $3,954 per feu. Similarly, rates from New York to Rotterdam increased 3% or $25 to $785 per feu. On the other hand, rates from Rotterdam to Shanghai decreased 3% or $19 to $524 per feu while those from Rotterdam to New York fell 2% or $40 to $2,624 per feu and those from Shanghai to Los Angeles dipped 1% or $33 to $4,806 per feu. Meanwhile, rates from Los Angeles to Shanghai and Shanghai to New York remained stable. Spot rates on the Asia-Europe trade lane increased for the second consecutive week and Drewry expects this uptrend to continue next week as well.