Drewry World Container Index - 30 Mar

Drewry's detailed assessment for Thursday, 30 March 2023

• The composite index has decreased by 2% this week, and has dropped by 79% when compared with the same week last year.
• The latest Drewry WCI composite index of $1,717 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021. It is 36% lower than the 10-year average of $2,690, indicating a return to more normal prices, but remains 21% higher than average 2019 (pre-pandemic) rates of $1,420
• The average composite index for the year-to-date is $1,917 per 40ft container, which is $751 lower than the 10-year average ($2,690 mentioned above).
• The composite index decreased by 2% to $1,716.85 per 40ft container, and is 79% lower than the same week in 2022. Rates on Shanghai – Los Angeles decreased by 6% or $122 to settle at $1,775 per 40ft box. Freight rates on New York – Rotterdam fell 5% to $1,097 per 40ft container. Likewise, rates on Shanghai – New York dipped 4% or $104 to $2,494 per feu. Rates on Rotterdam – New York slid 2% to $4,978 per 40ft box. Rates on Shanghai – Rotterdam and Los Angeles – Shanghai contracted 1% each to $1,479 and $1,069 per 40ft container, respectively. However, rates on Shanghai – Genoa inched up by 2% to $2,285 and those on Rotterdam – Shanghai by 1% to $693 per feu. Drewry expects small week-on-week reduction in rates in the upcoming weeks.

Spot freight rates by major route

Drewry's assessment across eight major East-West trades: