Drewry, a leading provider of supply chain advisory services, has reported that the World Container Index (WCI) has decreased by 4% to $2,168 per 40ft container. This marks the lowest rate since January 2024 and represents a substantial 79% decrease from the pandemic peak of $10,377 in September 2021. However, despite the decline, the current index remains 53% higher than the pre-pandemic average of $1,420 in 2019.
The year-to-date (YTD) average composite index now stands at $3,053 per 40ft container, which is $167 higher than the 10-year average of $2,886. This figure remains inflated due to the exceptional COVID-19 period between 2020 and 2022.
Freight rate fluctuations across major routes
Drewry's latest assessment revealed that freight rates on key routes have witnessed mixed trends.
- Rates from Rotterdam to New York saw a 7% decrease, dropping $154 to $2,162 per 40ft container.
- Rates from Shanghai to Los Angeles declined 6%, falling $171 to $2,487 per 40ft container.
- On the Shanghai to Rotterdam route, rates decreased 4% to $2,370 per 40ft container.
- Similarly, Shanghai to New York saw a 4% drop to $3,622 per 40ft container, while
- Shanghai to Genoa fell 3% or $115 to $3,171 per 40ft container.
- Conversely, Rotterdam to Shanghai experienced a 3% increase, rising $16 to $500 per 40ft container.
- Additionally, Los Angeles to Shanghai rates rose by 1% or $7 to $709 per 40ft container.
- Notably, rates from New York to Rotterdam remained unchanged.
Drewry anticipates that freight rates will continue to decline slightly in the coming weeks as the market stabilises.
More information:
Drewry
www.drewry.co.uk