Drewry: World Container Index 276% Higher Than a Year Ago, But Down 2% on Week

Drewry’s composite World Container index decreased 2% to $9,669.47 per 40ft container this week.

Our detailed assessment for Thursday, 28 October 2021
• The composite index decreased 2% this week, but, remains 276% higher than a year ago.

• The average composite index of the WCI, assessed by Drewry for year-to-date, is $7,248 per 40ft container, which is $4,687 higher than the five-year average of $2,561 per 40ft container.

• Drewry’s World Container index composite index decreased 2% and reached $9,669.47 per 40ft container, but is 276% higher than the same week in 2020. Freight rates on Shanghai – Rotterdam fell 3% or $493 to reach $14,062 per feu. Similarly, spot rates on Shanghai – Genoa and Shanghai – New York dropped 3% each to reach $13,123 and $13,554 per 40ft box respectively. Rates on Los Angeles – Shanghai fell $13 to $1,302 per 40ft container. However, rates on Rotterdam – Shanghai and Shanghai – Los Angeles gained 1% to reach $1,591 and $10,976 per feu respectively. Rates on New York – Rotterdam and Rotterdam – New York hovered around previous weeks level. Drewry expects rates to remain steady in the coming week.

Spot freight rates by major route

Our assessment across eight major East-West trades:
Source: Drewry