Drewry detailed assessment for Thursday, 10 October 2024

• The latest Drewry WCI composite index of $3,349 per 40ft container is 68% below the previous pandemic peak of $10,377 in September 2021, but it is 136% more than the average 2019 (pre-pandemic) rate of $1,420.

• The average composite index for the year-to-date is $4,079 per 40ft container, which is $1,248 higher than the 10-year average rate of $2,831 (inflated by the exceptional 2020-22 Covid period).

• Freight rates from Rotterdam to Shanghai decreased 8% or $47 to $543 per 40ft container. Similarly, rates from Shanghai to Rotterdam dropped 6% or $224 to $3,591 per feu. Likewise, rates from Shanghai to Los Angeles fell 5% or $239 to $5,019 per 40ft box. Also, rates from Shanghai to New York declined 3% or $161 to $5,761 per feu. Similarly, rates from Shanghai to Genoa shrank 2% or $64 to $3,784 per 40ft box. Conversely, rates from New York to Rotterdam and Rotterdam to New York increased 1% to $730 and $2,083 per 40ft box respectively. Meanwhile, rates from Los Angeles to Shanghai remained stable. The ILA port strike, which began on October 1, 2024, ended after three days on October 4, 2024. Following the tentative deal, Drewry expects rates ex-China to continue to decrease marginally in the coming weeks.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Source: Drewry Supply Chain Advisors