DREWRY’S composite World Container Index decreased by 3% to US$1806.43 per 40-foot container this week.
The index has dropped by 80% when compared with the same week last year.
The latest Drewry WCI composite index is now 83% below the peak of US$10,377 reached in September 2021. It is 33% lower than the 10-year average of US$2691, indicating a return to more normal prices, but remains 27% higher than average 2019 (pre-pandemic) rates of US$1420.
The average composite index for the year-to-date is US$1994 per 40-foot container, which is US$697 lower than the 10-year average (US$2691 mentioned above).
Rates on Shanghai – Genoa slid by 8%, or US$190, to settle at US$2287 per 40-foot box.
Rates on Rotterdam – New York fell 4% or US$196 to US$5377 per FEU.
Rates on Shanghai – Los Angeles and Shanghai – New York sank 2% each to US$1916 and US$2707 per 40-foot container, respectively.
Similarly, rates on Rotterdam – Shanghai and Shanghai – Rotterdam also contracted by 2% each, to US$702 and US$1562 per feu, respectively.
However, those on Los Angeles – Shanghai and New York – Rotterdam gained 1% each to US$1083 and US$1165 per 40-foot box, respectively. Drewry expects small week-on-week reductions in rates in the next few weeks.
