Drewry: World Container Index Down 32% Since A Year Ago
Drewry’s composite World Container Index decreased by 3% to $6,430.07 per 40ft container this week.
Our detailed assessment for Thursday, 11 August 2022
o The composite index decreased by 3% this week, the 24th consecutive weekly decrease, and has dropped by 32% when compared with the same week last year.
o The latest Drewry WCI composite index of $6,430 per 40-foot container is now 38% below the peak of $10,377 reached in September 2021, but it remains 78% higher than the 5-year average of $3,613.
o The average composite index for the year-to-date is $8,113 per 40ft container, which is $4,500 higher than the five-year average ($3,613 mentioned above).
o The composite index decreased by 3% to $6,430.07 per 40ft container, and is 32% lower than the same week in 2021. Freight rates on Shanghai – Genoa dropped 10% or $962 to $8,779 per feu. Spot rates on Shanghai – Los Angeles fell 2% or $151 to $6,834 per 40ft. Similarly, rates on Shanghai – Rotterdam decreased 1% or $106 to $8,833 per 40ft container. Rates on Los Angeles – Shanghai, Rotterdam – Shanghai, Shanghai – New York, New York – Rotterdam and Rotterdam – New York hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.