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Drewry: World Container Index Down By 2% This Week, Now 29% Lower Than Same Week of Last Year

Drewry’s composite World Container Index decreased by 2% to $6,628.29 per 40ft container this week.

Our detailed assessment for Thursday, 04 August 2022
• The composite index decreased by 2% this week, the 23rd consecutive weekly decrease, and has dropped by 29% when compared with the same week last year.

• The latest Drewry WCI composite index of $6,628 per 40-foot container is now 36% below the peak of $10,377 reached in September 2021, but it remains 84% higher than the 5-year average of $3,594.

• The average composite index for the year-to-date is $8,168 per 40ft container, which is $4,573 higher than the five-year average ($3,594 mentioned above).

• The composite index decreased by 2% to $6,628.29 per 40ft container, and is 29% lower than the same week in 2021. Freight rates on Shanghai – Los Angeles dropped 3% or $214 to $6,985 per feu. Spot rates on Shanghai – Rotterdam and Shanghai – Genoa fell 2% each to $8,939 and $9,741 per 40ft box respectively. Similarly, rates on Shanghai – New York decreased 1% to $9,774 per 40ft container. However, rates on New York – Rotterdam gained 1% or $18 to $1,292 per 40ft box. Rates on Los Angeles – Shanghai, Rotterdam – Shanghai and Rotterdam – New York hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.
Source: Drewry

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