Drewry World Container Index - 27 July

Our detailed assessment for Thursday, 27 July 2023

• The composite index has increased by 2.5% to $1,575.62 this week, and has dropped by 76.7% when compared with the same week last year.

• The latest Drewry WCI composite index of $1,575.62 per 40-foot container is now 85% below the peak of $10,377 reached in September 2021. It is 41% lower than the 10-year average of $2,684, indicating a return to more normal prices, but remains 11% higher than average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $1,770 per 40ft container, which is $914 lower than the 10-year average ($2,684 mentioned above).

• The composite index increased by 2.5% to $1,575.62 per 40ft container and is 76.7% lower than the same week in 2022. Freight rates on Shanghai – Los Angeles soared by 6% or $122 to $2,087 per 40ft container. Likewise, Shanghai – New York rates rose by 5% or $143 to $3,049 per 40ft box. However, rates from Rotterdam – New York decreased by 3% to $50 to stand at $1,590 per feu. Furthermore, spot rates from New York – Rotterdam, Rotterdam – Shanghai, Shanghai – Genoa, Los Angeles – Shanghai and Shanghai – Rotterdam remained stable at the previous week’s level. Drewry expects East-West spot rates to decline marginally on most routes in the next few weeks.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Source: Drewry Supply Chain Advisors