DREWRY’S World Container Index has again decreased by 2% this week, falling to US$5319 per 40-foot container.
The latest Drewry WCI composite index of US$5319 per 40-foot container is 49% below the previous pandemic peak of US$10,377 in September 2021, but it is 274% more than the average 2019 (pre-pandemic) rate of US$1420.
The average composite index for the year-to-date is US$4077 per 40-foot container, which is US$1273 higher than the 10-year average rate of US$2803 (which was inflated by the exceptional 2020-22 Covid period).
Freight rates from Shanghai to Genoa decreased 5% or US$394 to US$6788 per 40-foot container. Similarly, rates from Shanghai to Rotterdam dropped 4% or US$327 to US$7429 per FEU.
Likewise, spot rates from Rotterdam to New York fell 1% or US$27 to US$1934 per 40-foot box. Conversely, rates from Shanghai to Los Angeles increased 2% or US$98 to US$6401 per 40-foot container.
Similarly, rates from Shanghai to New York inched up 1% or US$47 to US$8811 per FEU. Meanwhile, rates from Rotterdam to Shanghai, Los Angeles to Shanghai and New York to Rotterdam remain stable.
Drewry says the recent uptick in transpacific Eastbound freight rates to the US West Coast and East Coast could be attributed to the looming International Longshoremen’s Association port strike on October 1, and the anticipated rush to ship goods before the strike begins.
As a result, Drewry expects rates on Transpacific trade to continue increasing in the coming weeks.
