Drewry's World Container Index remained stable at $3,440 per 40ft container this week. At $3,440 per feu, the WCI composite index is 67% below the previous pandemic peak of $10,377 in September 2021 but 142% more than the average $1,420 in 2019 (pre-pandemic).
Photo: Dreamstime.
The average YTD composite index is $3,992 per feu, which is $1,147 higher than the 10-year average of $2,845 (inflated by the exceptional 2020-22 Covid period).
Table: Drewry.
Freight rates from Shanghai to Rotterdam increased 2% or $89 to $4,043 per feu and those from Rotterdam to New York inched up 1% or $34 to $2,658 per feu. On the other hand, rates from Shanghai to Los Angeles decreased 2% or $106 to $4,700 per feu while those from Rotterdam to Shanghai fell 1% or $3 to $521 per feu. Meanwhile, rates from Shanghai to Genoa, Los Angeles to Shanghai, Shanghai to New York, and New York to Rotterdam remained stable. Drewry expects spot rates on the Asia to Europe trade route to increase next week, as carriers have announced GRIs starting mid-November.
More information:
Drewry
www.drewry.co.uk