Drewry World Container Index - 11 Jan

Drewry’s World Container Index increased by 15% to $3,072 per 40ft container this week.

Drewry’s detailed assessment for Thursday, 11 January 2024

• The composite index increased by 15% to $3,072 per 40ft container this week and has increased by 44% when compared with the same week last year.

• The latest Drewry WCI composite index of $3,072 per 40ft container is the highest since October 2022 and is 116% more than average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $2,871 per 40ft container, which is $196 lower than the 10-year average rate of $2,675 (which was inflated by the exceptional 2020-22 Covid period).

• Freight rates on Shanghai to Genoa increased by 25% to $5,213 per feu. Followed by rates on Shanghai to Rotterdam which rose by 23% to $4,406 per 40ft box. Likewise, rates on Rotterdam to Shanghai elevated by 19% to $652 per 40ft container. Similarly, rates on Shanghai to New York increased by 8% to $4,170 per feu. Also, rates on Shanghai to Los Angeles increased by 2% to $2,790 per 40ft box. In the same way, rates on New York to Rotterdam and Rotterdam to New York surged by 1% to $599 and $1,513 per 40ft box respectively. Conversely rates on Los Angeles to Shanghai dropped by 1% to $766 per 40ft box. Drewry anticipates East-West spot rates to increase in the coming weeks, due to the Red Sea/Suez situation.

Source: Drewry Supply Chain Advisors