Drewry’s World Container Index - 02 Nov

Drewry’s World Container Index increased by 5% to $1,406 per 40ft container this week.

Our detailed assessment for Thursday, 02 November 2023

• The composite index increased by 5% to $1,406 this week and has dropped by 54% when compared with the same week last year.

• The latest Drewry WCI composite index of $1,406 per 40-foot container is now 1% below the average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $1,704 per 40ft container, which is $972 lower than the 10-year average rates of $2,676 (which was inflated by the exceptional 2020-22 Covid period).

• Freight rates on New York to Rotterdam decreased by 7% to $656 per 40ft container. Likewise, rates on Los Angeles to Shanghai declined by 3% to $784 per 40ft box. Furthermore, rates on Rotterdam to Shanghai and Rotterdam to New York inched down by 1% to $465 and $1,500 per 40ft container. Conversely, rates on Shanghai to Los Angeles increased by 11% to $2,175 per 40ft box. Similarly, rates on Shanghai to Rotterdam surged by 4% to $1,048 per 40ft container. Likewise, rates on Shanghai to New York rose by 3% to $2,616 per 40ft box. Moreover, rates on Shanghai to Genoa inched up by 1% to $1,359 per 40ft container respectively. Drewry anticipates East-West spot rates to remain close to current levels, overall, in the upcoming weeks.

Spot freight rates by major route

Our assessment across eight major East-West trades:

Source: Drewry Supply Chain Advisors