Drewry World Container Index - 16 May

Drewry’s World Container Index increased 11% to $3,511 per 40ft container this week.

Our detailed assessment for Thursday, 16 May 2024

• The composite index increased 11% to $3,511 per 40ft container this week and has increased by 104% when compared with the same week last year.

• The latest Drewry WCI composite index of $3,511 per 40ft container is 147% more than average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $3,241 per 40ft container, which is $524 higher than the 10-year average rate of $2,717 (which was inflated by the exceptional 2020-22 Covid period).

• Freight rates from Shanghai to Rotterdam, Shanghai to Los Angeles, and Shanghai to New York increased 12% to $4,172, $4,476 and $5,717 per 40ft container respectively. Similarly, rates from Shanghai to Genoa increased 11% or $481 to $4,776 per feu. Likewise, rates from Rotterdam to New York climbed 2% or $49 to $2,209 per 40ft box. While rates from Rotterdam to Shanghai decreased 2% or $16 to $679 per 40ft container. Also, rates from Los Angeles to Shanghai dropped 1% or $7 to $692 per feu. While rates from New York to Rotterdam remain stable. Drewry expects ex-China freight rates to rise due to increased demand, tight capacity, and the need to reposition empty containers.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Source: Drewry Supply Chain Advisors