Our detailed assessment for Thursday, October 14, 2021
- The composite index decreased 2.3% this week, but, remains 283% higher than a year ago.
- The average composite index of the WCI, assessed by Drewry for year-to-date, is $7,126 per 40ft container, which is $4,629 higher than the five-year average of $2,497 per 40ft container.
- Drewry’s World Container index composite index decreased by 2.3% and reached $9,900.25 per 40ft container, but is 283% higher than the same week in 2020. Freight rates on Shanghai to New York dropped 7% or $1,085 to reach $14,025 and Shanghai to Los Angeles fell 2% or $275 to $10,898 per 40ft box. Similarly, rates on Los Angeles to Shanghai, Shanghai to Rotterdam, Rotterdam to Shanghai and Shanghai to Genoa declined 1% respectively per 40ft container. However, rates on New York to Rotterdam nudged up by 3% or $38 and stood at $1,154 per feu. Rates on Rotterdam to New York hovered around previous weeks level. Drewry expects rates to remain steady in the coming week.
Spot Freight Rates by Major Route
Our assessment across eight major East-West trades: