Drewry: World Container Index Retreated 10% This Week
Drewry’s composite World Container Index decreased by 10% to $4,014.10 per 40ft container this week.
Our detailed assessment for Thursday, 29 September 2022
• The composite index decreased by 10% this week, the 31st consecutive weekly decrease, and has dropped by 61% when compared with the same week last year.
• The latest Drewry WCI composite index of $4,014 per 40-foot container is now 61% below the peak of $10,377 reached in September 2021, but it remains 8% higher than the 5-year average of $3,714.
• The average composite index for the year-to-date is $7,597 per 40ft container, which is $3,884 higher than the five-year average ($3,714 mentioned above).
• The composite index decreased by 10% to $4,014.10 per 40ft container, and is 61% lower than the same week in 2021. Freight rates on Shanghai – Genoa dropped 19% or $1,203 to $5,216 per feu. Spot rates on Shanghai – Los Angeles fell 13% or $496 to $3,283 per 40ft box. Likewise, Rates on Shanghai – Rotterdam and Shanghai – New York dipped 10% and 5% to $ 5,441 and $7,278 per 40ft container respectively. However, rates from Rotterdam – New York gained 4% or $301 to $7,038 per 40ft box. Rates on Rotterdam – Shanghai, Los Angeles – Shanghai and New York – Rotterdam hovered around the previous week’s level. Drewry expects the index to decrease in the next few weeks.