The composite index increased 10% to $5,868 per 40ft container this week and has increased 298% when compared with the same week last year. The latest Drewry WCI composite index of $5,868 per 40ft container is 43% below the previous pandemic peak of $10,377 in September 2021, but it is 313% more than average 2019 (pre-pandemic) rates of $1,420.
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The average composite index for the year-to-date is $3,664 per 40ft container, which is $909 higher than the 10-year average rate of $2,756 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to New York increased 17% or $1,331 to $9,158 per 40ft container. Rates from Shanghai to Rotterdam surged 10% or $734 to $8,056 per FEU. Additionally, rates from New York to Rotterdam swelled 2% or $16 to $656 per FEU. And rates from Rotterdam to Shanghai decreased 5% or $33 to $643 per 40ft box. Rates from Rotterdam to New York dropped 3% or $67 to $1,977 per FEU.
Drewry expects a minor increase in freight rates out of China as Asian ports face congestion issues.
More information:
Drewry
www.drewry.co.uk