Drewry, a leading consultancy in the shipping and logistics sector, delivers comprehensive insights and benchmarks for container freight rates and market dynamics. Their World Container Index (WCI) monitors spot freight rates across major trade routes, reflecting industry trends and providing crucial data for stakeholders.
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As of 19 December 2024, the WCI composite index increased 8% to $3,803 per 40-foot container, a significant drop from its September 2021 peak but still 168% higher than pre-pandemic averages in 2019. Specific route analysis reveals notable rate increases, including a 26% rise from Shanghai to Los Angeles and a 17% increase from Shanghai to New York. Meanwhile, rates on some routes, such as Shanghai to Genoa, experienced modest declines. Drewry anticipates further fluctuations, with Transpacific rates expected to rise due to impending labour disputes and policy changes.
Table: Drewry.
Drewry's expertise extends beyond data tracking. Their services include freight cost benchmarking, contract appraisals, carrier strategy workshops, and capacity analyses. These offerings help clients optimise operations, understand market performance, and stay competitive. Their innovative Container Freight Rate Insight (CFRI) covers over 790 port pairs, enabling access to up-to-date, independently researched benchmarks critical for index-linked contracts.
For over two decades, Drewry has led the field in providing reliable freight market intelligence. Their comprehensive reports and advisory services empower businesses to navigate the complexities of global trade efficiently, making them a trusted partner in the logistics and shipping industries.
More information:
Drewry
www.drewry.co.uk