Drewry World Container Index - 18 Aug

Drewry’s composite World Container Index decreased by 3% to $6,223.82 per 40ft container this week.

Detailed assessment for Thursday, 18 August 2022

• The composite index decreased by 3% this week, the 25th consecutive weekly decrease, and has dropped by 35% when compared with the same week last year.
• The latest Drewry WCI composite index of $6,224 per 40-foot container is now 40% below the peak of $10,377 reached in September 2021, but it remains 71% higher than the 5-year average of $3,631.
• The average composite index for the year-to-date is $8,056 per 40ft container, which is $4,425 higher than the five-year average ($3,631 mentioned above).
• The composite index decreased by 3% to $6,223.82 per 40ft container, and is 35% lower than the same week in 2021. Freight rates on Shanghai – Los Angeles and Shanghai – Rotterdam dropped 5% each to $6,521 and $8,430 per feu respectively. Spot rates on Shanghai – Genoa fell 2% or $192 to $8,587 per 40ft container. Similarly, rates on Rotterdam – Shanghai decreased 1% to $1,187 per 40ft box. However, rates on New York – Rotterdam gained 1% to $1,298 per feu. Rates on Los Angeles – Shanghai, Shanghai – New York and Rotterdam – New York hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.

Spot freight rates by major route

Our assessment across eight major East-West trades: