Drewry World Container Index - 04 Jan

Drewry’s World Container Index increased by 61% to $2,670 per 40ft container this week.

Drewry detailed assessment for Thursday, 04 January 2024

• The composite index increased by 61% to $2,670 per 40ft container this week and has increased by 25% when compared with the same week last year.

• The latest Drewry WCI composite index of $2,670 per 40ft container is now 88% more than average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $2,670 per 40ft container, which is $3 lower than the 10-year average rate of $2,673 (which was inflated by the exceptional 2020-22 Covid period).

• Freight rates on Shanghai to Rotterdam skyrocketed by 115% or $1,910 to $3,577 per feu. Followed by rates on Shanghai to Genoa which rose by 114% or $2,222 to $4,178 per 40ft box. Likewise, rates on Shanghai to Los Angeles elevated by 30% or $626 to $2,726 per 40ft container. Similarly, rates on Shanghai to New York increased by 26% or $784 to $3,858 per feu. Also, rates on Rotterdam to Shanghai jumped by 17% or $80 to $546 per 40ft box. In the same way rates on Rotterdam to New York surged by 2% or $23 to $1,503 per box. While rates on Los Angeles to Shanghai and New York to Rotterdam remain stable. Drewry anticipates East-West spot rates to increase in the coming weeks, due to the Red Sea/Suez situation.

Source: Drewry Supply Chain Advisors