Drewry detailed assessment for Thursday, 29 August 2024

• The latest Drewry WCI composite index of $5,181 per 40ft container is 50% below the previous pandemic peak of $10,377 in September 2021, but it is 265% more than the average 2019 (pre-pandemic) rate of $1,420.

• The average composite index for the year-to-date is $4,108 per 40ft container, which is $1,299 higher than the 10-year average rate of $2,809 (inflated by the exceptional 2020-22 Covid period).

• Freight rates from Shanghai to Rotterdam and Genoa decreased 3% to $7,204 and $6,611 per 40ft container, respectively. Likewise, rates from Shanghai to Los Angeles, Shanghai to New York and New York to Rotterdam decreased 2% to $6,248, $8,591 and $743 per 40ft box, respectively. Similarly, spot rates from Rotterdam to Shanghai and New York decreased by 1% to $622 and $1,908 per 40ft container, respectively. Meanwhile, rates from Los Angeles to Shanghai remain stable. Despite the looming threat of an ILA port strike, transpacific Eastbound freight rates have seen a slight dip this week. Drewry expects East-West rates to remain stable in the upcoming weeks.

Spot freight rates by major route

Drewry assessment across eight major East-West trades:

Source: Drewry Supply Chain Advisors