Drewry’s World Container Index increased by 9% to $1,661 per 40ft container this week.

Our detailed assessment for Thursday, 21 December 2023

• The composite index increased by 9% to $1,661 per 40ft container this week and has dropped by 22% when compared with the same week last year.

• The latest Drewry WCI composite index of $1,661 per 40ft container is now 17% more than average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $1,674 per 40ft container, which is $998 lower than the 10-year average rate of $2672 (which was inflated by the exceptional 2020-22 Covid period).

• Freight rates on Shanghai to Rotterdam increased by 16% to $1,667 per feu, followed by rates on Shanghai to Genoa up by 15% to $1,956 per 40ft box. Likewise, rates on Shanghai to New York rose by 8% to $3,074 per 40ft container. Similarly, rates on Shanghai to Los Angeles, Rotterdam to Shanghai and Los Angeles to Shanghai increased by 6% to $2,100, 3% to $466 and 1% to $774 per feu respectively. Rates on Rotterdam to New York inched down by 2% to $1,480 per 40ft box, while rates on New York to Rotterdam remained stable. Drewry anticipates East-West spot rates to remain close to current levels, overall, in the upcoming weeks.

The next Drewry World Container Index will be published on Thurs, 4 January 2024.

Source: Drewry Supply Chain Advisors